Global Desiccant Wheel Market: Snapshot
Desiccant wheels are experiencing a vast rise in demand from a number of industry verticals such as food and beverages, chemicals, and pharmaceuticals for maintaining the regulatory standards associated to the relative humidity (RH) levels in production infrastructures. In the next few years, reduction in electricity costs and portability of desiccant dehumidifiers are expected to increase the popularity of desiccant wheels on a global front. Furthermore, desiccant dehumidifiers have demonstrated their ability to be much more effective than compressor-based dehumidifiers when it comes to extracting moisture in short time spans.
Transparency Market Research states that the global desiccant wheel market will expand at a healthy pace in the next few years. The market is estimated to expand at a 4.9% CAGR from 2016 to 2024. If the number holds true, the market, which valued at US$296.5 mn in 2015, is expected to rise to US$ 463.0 mn by 2024.
Silica Gel to Retain Position as Dominant Desiccant Variety
Of the key varieties of desiccants commonly used in desiccant wheels in the global market, including activated alumina, molecular sieve, and silica gel, the segment of silica gel led, holding a nearly 68% of the global market in 2015. The segment dominated chiefly owing to silica gel’s comparatively cheaper costs than other alternatives. Silica gel desiccant wheels are also known to have extremely good moisture adsorption capabilities, resulting in the production of dryer air. Furthermore, silica gel desiccants are considered to be safe for use in food and beverage industry by several regulating authorities. Also, silica gel is non-flammable and has a higher shelf life, resulting in durable desiccant wheels.
In terms of key application areas of silica gel desiccants, their applications in the food industry accounted for a significant share in the segment’s overall revenue valuation in 2015. The food industry has a high adoption rate of desiccant wheels due to the new and improved manufacturing processes requiring dry environment. Food safety rules and regulations have forced enterprises to install desiccant dehumidifiers within manufacturing facilities. Other desiccant varieties can contaminate the perishable goods present within the premises.
Market in Asia Pacific to Lead to Most Lucrative Returns
From a geographical perspective, the desiccant wheels market in North America held the dominant position in 2015. High adoption of desiccant wheels for dehumidification purpose across pharmaceutical and chemical sectors in the past few years has helped the North America desiccant wheels market stay ahead of other regional markets. Manufacturing units of pharmaceutical products need a controlled environment as these products are highly reactive to moisture. Raw materials used for tablet manufacturing are extremely hygroscopic and can absorb moisture quickly. Moisture can affect the weight, quality and firmness of the end product. Similarly, chemical manufacturing companies must maintain specific humidity levels within the premises as various chemicals show adverse reactions after interaction with moisture.
However, due to the growing needs from the flourishing manufacturing sector and growing heating ventilation and air conditioning (HVAC) needs from the expanding infrastructure, Asia Pacific desiccant wheels market is expected to outpace North America, exhibiting a CAGR of 6.2% during the forecast period. In Asia Pacific, the manufacturing sector in emerging economies such as China and India are anticipated to drive the desiccant wheel market. These countries have a large number of manufacturing plants and their number is expected to further grow during the forecast period. Furthermore, increasing concentration of desiccant wheel manufacturers and product varieties with comparatively lower prices is also expected to drive the market during the forecast period.
Some of the key players operating in the global desiccant wheel market are Munters, NovelAire Technologies, DRI, Rotor Source, Inc., Trane, Proflute AB, Airxchange Inc., Seibu Giken DST AB, Greenheck Fan Corporation, and Fläkt Wo
Global Desiccant Wheel Market: Overview
Similar to thermal wheels, desiccant wheels are used solely for dehumidifying purposes. They can do so using specialized coatings that allow them to absorb moisture quicker. The rotation of a desiccant wheel allows air to pass through it. Each segment of desiccant in the wheel absorbs the moisture which is expelled via a special regenerative area in the wheel. This allows the wheels to act rapidly in terms of reducing the humidity in a closed environment, a favorable condition for the manufacture of several moisture sensitive products in various industries.
The report on the global desiccant wheel market is a collection of data generated through a dedicated effort to foresee its future. The report shows how values and statistics from the recent past and the current market scenario are used to create a logical and feasible scenario for the market till 2024. This can be done through the formative analytical methodologies such as Porter’s Five Force analysis and a player-based SWOT analysis of the global desiccant wheel market’s competitive landscape.
Global Desiccant Wheel Market: Trends and Opportunities:
The primary driver attributed to the growth of the global desiccant wheel market is the fast growth rate in infrastructure shown by a large number of industry verticals around the world. Players in the industries of pharmaceuticals, chemicals, and food and beverages are especially showing a massive upswing in their demand for desiccant wheels. Furthermore, desiccant wheels have proven to be far more effective in regulating humidity levels than dehumidifiers based on compressor technology, as the former can soak up atmospheric moisture in much shorter time spans.
Silica gel desiccant wheels have been the leading type to be used by a large number of the end users for the global desiccant wheel market. In 2015, this segment took up close to 68% of the global desiccant wheel market in terms of revenue, signifying its massive preference rate over the other types. Silica gel wheels are extremely popular for their superior abilities in moisture absorption, non-flammable nature, and longer life-span than other wheel types. Additionally, silica gel desiccant wheels are also considered safe to be used in food and beverage manufacturing environments by several top regulatory authorities, making it a staple for many companies from this industry.
Pharma companies and chemicals manufacturers make large scale use of desiccant wheels to maintain humidity levels within the manufacturing plant to create the optimum environment. This applies especially to tablet manufacturers as tablet surfaces are meant to be extremely hygroscopic.
Global Desiccant Wheel Market: Region-wise Outlook:
By 2024, the global desiccant wheel market is expected to be led by North America. This region has been the dominant one over the recent past and will continue to lead the market in terms of demand due to an early and high rate of adoption of desiccant wheels in a large part of the region’s pharmaceutical industry.
Asia Pacific, on the other hand, is showing an optimistic CAGR of 6.2% from 2015 to 2024 in the global desiccant wheel market. A majority of this demand has risen from the growing demand for heating, ventilation, and air-conditioning. The urban and industrial infrastructure in emerging economies from Asia Pacific is expanding at a rapid rate, allowing the manufacturers of desiccant wheels to offer a greater range of products and a higher rate of market penetration. The Asia Pacific market for desiccant wheels will also improve further once both global and regional players enter the mix and enhance the competitive scenario, leading to favorable price drops.
Companies Mentioned in the Research Report:
The top players in the global desiccant wheel market include Greenheck Fan Corporation, NovelAire Technologies, Munters, Rotor Source, Inc., DRI, Trane, Proflute AB, Seibu Giken DST AB, Airxchange Inc., and Fläkt Woods Group.
Key segments of the Global Desiccant Wheel Market:
By Type of Desiccant
- Silica Gel
- Molecular Sieve
- Activated Alumina
- Food Industries
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments