Our industrial automation analyst identifies key drivers of the pulp drying equipment market’s growth: green solutions, resilience, innovation, and emerging markets. Dive deeper into our comprehensive FMI report to explore the dynamics of this burgeoning market and uncover compelling opportunities for stakeholders.
NEWARK, Del., Dec. 14, 2023 /PRNewswire/ — The global pulp drying equipment market is anticipated to reach a valuation of US$ 642.6 million in 2024, driven by plant based meat alternatives. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.7% between 2024 and 2034 and reaching a total valuation of approximately US$ 988.5 million by 2034.
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One of the major factors contributing to the growth of the market is government regulations and sustainability standards. Stringent environmental regulations and sustainability standards imposed by governments and industry bodies are expected to drive pulp and paper manufacturers to invest in eco-friendly and energy-efficient drying equipment to meet compliance requirements.
Equipment that enhances the resilience of the production process to external shocks, such as supply chain disruptions or fluctuations in energy prices, maybe a priority for manufacturers. Economic conditions, including GDP growth and global trade dynamics, can impact the overall demand for pulp and paper products, subsequently influencing the market for pulp drying equipment.
Ongoing research and development in drying technologies, including microwave drying, infrared drying, and other novel methods, can present opportunities for equipment manufacturers to introduce innovative solutions that offer improved efficiency and reduced environmental impact.
The increasing industrialization and demand for paper products in developing economies present opportunities for market penetration. Adaptable and cost-effective pulp drying equipment can find a growing market in these regions.
The emphasis on worker safety and compliance with safety standards are anticipated to drive the adoption of pulp drying equipment with enhanced safety features and automated systems to minimize risks. The growing demand for specialty papers, such as packaging materials with specific properties, can drive the need for specialized pulp drying equipment capable of handling unique requirements.
Companies adopting circular economy principles may explore equipment that supports the recycling and reusing of waste materials generated during pulp and paper production. Integrating AI for predictive maintenance, process optimization, and quality control in pulp drying operations can also increase efficiency and reduce downtime.
“Pulp drying equipment designed to minimize water usage and energy consumption aligns with sustainability goals and may be favored by companies looking to reduce their environmental footprint,” remarks Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Market Study
- Global pulp drying equipment market was valued at US$ 614.5 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 4.4%.
- The market in India is expected to expand at a CAGR of 5.4% through 2034.
- By product type, the rotary drum segment to account for a share of 28.0% in 2024.
- From 2024 to 2034, pulp drying equipment market is expected to flourish at a CAGR of 4.7%.
- By 2034, the market value of pulp drying equipment is expected to reach US$ 988.5 million.
Competitive Landscape
Prominent players in the pulp drying equipment market are:
- Boardman, Inc.
- Super Radiator Coils
- Bepex International, LLC
- FEECO International, Inc.
- Corbett Industries, Inc.
- General Air Products, Inc.
- Marsden, Inc
- GEA Barr-Rosin
- Carrier Vibrating Equipment, Inc.
- Kelvion Inc.
Recent Development
In 2022, Valmet, as a part of its service offerings for tissue producers, innovated a service agreement focused on enhancing the efficiency and safety of the Yankee cylinder, hood, and air system. The dryer section is a significant energy consumer within the tissue-making process, accounting for approximately 70% of the total energy consumption. It also plays a pivotal role as the primary contributor to CO2 emissions in production.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pulp drying equipment market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the pulp drying equipment market, the market is segmented based on product type (rotary drum, flash drying, and ring tape drying), and end use (newsprint industry, pulp, and paper industry, packaging industry, and other end use), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Unveiling the Dynamics of the Pulp Drying Equipment Market: Access Our Comprehensive Research Methodology
About the Industrial Automation Team at Future Market Insights
The industrial automation team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About the Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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