Clean Steam Separator Market Size by 2032: Global Demand and Regional Analysis
Expanding at a CAGR of 3%, the global clean steam separator market is likely to amass a market value worth US$ 3,441.3 Million by the end of the forecast period and is projected at US$ 2,554 Million in 2022.
In the period 2016-21, the industry experienced compounded growth of 2.8%. The growth of the market can be attributed to the growing demand for power across the globe, especially in developing regions, such as the Asia Pacific.
Clean steam separators are in high demand due to their ability to reduce water content and improve raw material quality in mineral processing. Separators are also gaining popularity in the pharmaceutical industry for purposes such as product sterilisation, the production of sterile solutions, and biopharmaceutical manufacturing, among others.
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In any type of industrial engine wet steam reduces thermal efficiency, further, it can also cause a hydraulic lock or erode internals. Thus, clean steam separators becomes an essential part of many industrial processes, where handling steam and moisture is unavoidable. A typical steam separator uses a tangential inlet and cyclonic action to instantly separate steam and condensate, however, simpler versions are also available.
Clean steam separators come across a variegated range of sizes, for different pressure ranges, for different applications. Demand for clean steam separator is directly proportional to growth of its end use industries. Due to gradually increasing growth rate among most end use industries, the global clean steam separators market is expected to expand with a moderate CAGR over the forecast period.
Clean Steam Separators Market: Drivers & Restraints
The prime factor boosting the growth in the global Clean Steam Separators market is the rising demand for power across developing nations of Asia Pacific. As coal still remains the most dominant fuel for power generation, demand for steam separators will continue to rise. With reviving economies of US and Western Europe, the chemical and chemical processing industries of the region will also drive the demand for clean steam separators.
Furthermore, as regulation become stricter regarding industrial safety, clean steam separators are bound to witness untapped installation areas, where moisture can corrode other equipment. Reviving crude oil prices is also fuelling oil and gas companies to further invest in gas processing stations, which is also driving more demand for clean steam separators.
Clean Steam Separators Market: Regional Outlook
Geographically, Clean Steam Separators market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. North America has been the global leader in generating demand for clean steam separators, amid, matured industrialization and its giant thermal power industry.
However, over the forecast period, the region’s clean steam separator market is expected to witness maturity levels, as focus on renewable energy rises. Contrary, Western Europe is already catering a mature clean steam separators market, but with reviving chemical and pharmaceutical industry of the region, demand for clean steam separators is anticipated to rise gradually over the forecast period.
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Asia Pacific Excluding Japan (APEJ) is expected to present the most impressive growth considering the demand for clean steam separators. China and India are anticipated to take the lead, amid, increasing demand for power in these countries. Also, as prominent chemical processing and oil & gas companies such as BASF, Dow, Shell, etc. initiates their processing facilities in the region, demand for clean steam separator shall witness a rise.
Japan is another prominent clean steam separators market and is expected to maintain its dominance throughout the forecast period. This can be attributed to a number of reasons such as Japan’s dominant chemical and rubber industry. Latin America and Eastern Europe are also rising markets in terms of demand for clean steam separators, particularly because of rising power demand in the region, and also reviving oil and gas industry.
Gas processing in Russia in one such sector which will attract high demand for clean steam separators. Middle East and Africa is also a prominent region in terms of growing demand for clean steam separators, as KSA plans to diversify its economy. Furthermore, the region has always been highly dependent on fossil fuels for its power consumption, which will continue to drive demand for clean steam separators.