Rapid Growth of the Automotive Industry Worldwide to Augment the Adsorption Equipment Market Growth

 

Adsorption Equipment Market

Adsorption equipment is used to bind or adhere particles, ions, atoms, or molecules to a surface in a process stream. They are widely used for industrial applications such as drying of procedure gas streams, controlling odor, and the recovery of volatile solvents such as trichloroethylene, ethanol, and benzene. Due to its ability to avoid the spread of unnecessary gases, adsorption equipment find applications in chemical production process, vehicles, and perfumes. Moreover, it is consolidated for remediation as well as recovery of air streams or polluted water into an ecological framework.

Market Dynamics:

Stringent regulations to control volatile organic compound (VOC) emissions in various end-use industries, such as pharmaceutical, food & beverage, semiconductor, printing, chemical, and automotive paints, are expected to propel the growth of the adsorption equipment market. For instance, in April 2018, the U.S. Environmental Protection Agency (EPA) regulated VOCs at Federal level in 40 CFR 59, which is the National Volatile Organic Compound Emission Standards for Consumer and Commercial Products.

Moreover, the rapid growth of the automotive industry worldwide is expected to augment the growth of the adsorption equipment market. India’s automotive industry has been witnessing high growth. For instance, according to the India Brand Equity Foundation (IBEF), the Indian automotive industry is expected to reach US$ 251.4-282.8 billion by 2026. India was the world's fourth largest manufacturer of cars and seventh largest manufacturer of commercial vehicles in 2019.

Furthermore, increasing demand for adsorption equipment and the introduction of new and advanced technologies in adsorption equipment is expected to fuel the adsorption equipment market growth. However, high capital investment and easy availability of product substitute is expected to restrain the growth of the adsorption equipment market.

Competitive Analysis:

Major players operating in the adsorption equipment market are NICHEM, Taikisha Ltd., Dürr AG, TIGG LLC, CECO Environmental, GasServStroy LLP, MainTech Systems GmbH, Eisenmann SE, Monroe Environmental Corp., ENVIRONMENTAL C & C INC, Evoqua Water Technologies LLC, Gulf Coast Environmental Systems (GCES), and Chemisch Thermal Prozesstechnik GmbH (CTP).

In February 2021, Xebec Adsorption Inc. announced that its wholly owned subsidiary, HyGear, signed a Gas-as-a-Service (GaaS) contract with Saint-Gobain Glass for a 15-year term.

In February 2021, the United Nations Industrial Development Organization (UNIDO) invited bids from companies or consortiums of companies to set up biomethanation projects showcasing specific developments in one or more areas of innovations.


Location: India

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