Spray Drying Equipment Market Growth Factors, Shares and Top Key Players between 2019 and 2027

Posted on 2020-01-24 by Mark Hub in Industrial // 0 Comments

A recently published report by Fact.MR on spray drying equipment market foretells that sales of spray drying equipment would continue to soar in the long term. In terms of value, the global spray drying equipment market is estimated to surpass the valuation of US$ 820 Mn by 2027 with a year-on-year growth of ~4% in the foreseeable future.

Spray drying equipment is gaining popularity in different verticals owing to its capacity for bulk production in end-use plants. Different end-use industries including food processing, pharmaceutical industries and chemicals are making huge investments to scale their operations in spray drying equipment market. Investments are also being made to enhance manufacturing for commercial purposes for future. Latest Fact.MR report predicts that global spray drying equipment market will exceed US$ 820 value by the end of the year 2017. The annual growth is expected to be at 4% growth rate in the coming future.

Important regions covered in the keyword market report include:

North America (Canada, US)
Latin America (Argentina, Mexico)
Europe (NORDIC, UK)
Japan and MEA
APEJ (China, India)

Chemical and processed food industry boosts market

Customizations drive the global spray drying equipment market in Asian countries. Asia Pacific is witnessing rapid growth in spray drying equipment market and is responsible for the two-fifth of the total new installations. Growth in demand for different components like chemicals and processed food in Asia Pacific bolsters the global market. Greenfield establishments along with brownfield establishments attract investments in spray drying equipment market. Both type of establishments in different verticals like food, pharmaceuticals and chemical are gaining traction in both developing as well as developed economies. New projects are projected to surge the market growth and the market is expected to expand by 1.3 times the current capacity.

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Drug manufacturing sector also contributes significantly in the global spray drying market. Effective pharmaceutical formulations have positively influenced drug manufacturing in terms of bioavailability and throughput. Spray drying equipment is increasingly used in different mainstream products of the pharmaceutical industry.

Value-adding technologies highly preferred

Drug manufactures practice mass production of drugs. Major manufacturing companies in the pharmaceutical industry are leveraging such opportunities of mass production to gain greater market penetration. Two major factors that include increased demand for customized spray drying equipment and accelerated research and developments on biomolecules surge the spray drying equipment’s installation. Pharmaceutical industry is expected to exhibit tremendous growth worldwide and will grow at 6% CAGR during the forecast period.

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The keyword market report offers a plethora of insights which include:

Changing consumption pattern among individuals globally.
Historical and future progress of the global keyword market.
Region-wise and country-wise segmentation of the keyword market to understand the revenue, and growth lookout in these areas.
Accurate Year-on-Year growth of the global keyword market.
Important trends, including proprietary technologies, ecological conservation, and globalization affecting the global keyword market.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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