Players in the mist eliminator market are working closely with end-users and suppliers to evaluate their needs and customize high-performance mist eliminators to befit their application-specific requirements.
ROCKVILLE, MD / ACCESSWIRE / September 8, 2020 / The mist eliminator market is projected to grow at a sluggish CAGR of 3.2% in terms of value through the period of forecasting between 2020 and 2030. Factors determining the growth include the implementation of rigorous environmental regulations globally, coupled with adoption in refineries, power generation, and chemical industry. However, the outbreak of COVID-19 is further slowing down the modest growth owing to a contraction in demand and diminished spending power of the manufacturing sector.
"As industrial players emphasis on efficient and effective operations to improve the overall productivity and safety of manufacturing facilities, mist eliminators are finding acceptance owing to their superior performance characteristics such as separation of useful chemicals from the mist," says the Fact.MR report.
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Mist Eliminator Market - Key Takeaways
- The global mist eliminator market is forecasted to bestow an incremental opportunity of nearly US$ 253 Mn between 2020 and 2030.
- By type, the wire mesh mist eliminator segment is forecasted to grow 2.3X over its counterpart, vane mist eliminator, owing to its higher separation efficiency and lower installation costs.
- The Vane mist eliminator segment is poised to capture 1/3rd of the absolute dollar opportunity created during the assessment period.
- Based on end-use, the power generation industry will remain the most prominent segment backed by a high need to decrease emissions.
- By material, metal-based mist eliminators are anticipated to account for nearly 2/3rd value and offer a revenue opportunity worth US$ 185 Mn during the forecast period.
- North America, led by the US, will expand 4X the revenue of South Asia & Oceania and will account for over 1/3rd of market value.
- South Asia & Oceania, on the other hand, will rise in value at a relatively higher CAGR of 4.6% through 2030.
Mist Eliminator Market - Driving Factors
- Growing adoption of mist eliminators across refineries, power generation, and chemical industries in order to block droplets from escaping into the atmosphere and subsequently reduce pollution is the primary growth attribute.
- A rising number of stringent environmental regulations to control carbon emissions from industries is also asserting market players to adopt mist eliminators.
Mist Eliminator Market - Constraints
- High installation and maintenance costs of the mist eliminator are posing a challenge to the growth of the market.
Anticipated Market Impact by Coronavirus Outbreak
The operations in the global manufacturing sector came to a curt halt in the first quarter of 2020, thereby restraining sales of equipment reliant on manufacturing facilities. On these lines, the demand for mist eliminators has witnessed a steep decline. Moreover, the production side of the mist eliminator market is experiencing challenges such as a lack of sufficient workforce and disruption of supply chains. Cumulatively, these factors are negatively impacting the overall growth of the market, and the downtrend is expected to prevail through the pandemic.
Explore the global mist eliminator market with 120 figures, 56 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/2618/mist-eliminator-market
Competition Landscape
The key players operating in the mist eliminator market include Sulzer Ltd., CECO Environmental, DuPont de Nemours, Inc., and Munters Group. Market players are focusing on developing advanced designs and tapping on unexplored application areas. Moreover, market players are seeking contracts from other organizations to ensure financial security in the long-run. On these lines, in 2019, DuPont de Nemours, Inc., procured a contract from NioCorp Developments Ltd. for its MECS sulfuric acid technology that maximizes energy recovery and emission control. Likewise, in 2020, Sulzer Ltd. secured a contract from ExxonMobil to supply its industrial-scale cMIST system for natural gas dehydration.
More on the Report
The FACT.MR's market research report provides in-depth insights on the mist eliminator market. The market is scrutinized on the basis of type (wire mesh, vane, and fiber bed), material (metal, polypropylene, and FRP & others), and end user (oil & gas, desalination, power generation, chemical, and others) across six major regions (North America, Europe, East Asia, South Asia & Oceania, Latin America, and Middle East & Africa (MEA).
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SOURCE: FactMR