Graphite Heat Exchangers Market: Introduction
The key responsibility of a heat exchanger is to transfer the heat from one fluid to another. Heat exchangers are used for heating and cooling processes. Graphite heat exchangers are designed to deliver heat up, cool down, and evaporate corrosive fluids. These exchangers are widely used in various applications due to their superior properties. Graphite is a corrosion resistant material. It does not provide ion pick up and hence, it is used in pharmaceutical, and fine chemical industries applications.
Graphite Heat Exchangers Market: Trends & Developments
Demand for graphite heat Exchangers is increasing due to the rise in price of energy systems and limited availability of natural energy resources. Demand for graphite heat exchange is rising at a rapid pace due to its anticorrosive and high resistant properties. This, in turn, is fueling the demand for graphite heat Exchangers in petrochemicals, chemicals, and pharmaceuticals applications. Additionally, growth of the construction industry and rise in urbanization in developing countries have propelled the demand for heat exchangers. Increase in HVACR Heating, ventilation, and air conditioning) deployments due to favorable government investments in the commercial construction industry boost the demand for effective heat exchangers. However, lack of awareness regarding the usage of graphite heat exchangers inhibits the market. Rise in adoption of these exchangers by commercial builders and associations is expected to create lucrative opportunity during the forecast period.
Graphite Heat Exchangers Market: Segmentation
The graphite heat Exchangers market can be classified based on type, application, and region. In terms of type, the market can be segregated into shell & tubes, blocks, plates, and others. Shell & blocks graphite heat exchangers can control fluids at high temperatures and pressures; therefore, they are preferred in numerous applications such as chemical, petrochemical, and food & beverage. Based on application, the graphite heat Exchangers market can be divided into chemical, metal surface treatment, pharmaceutical, food & beverage, and others. Rise in demand for graphite heat Exchangers in industrial chemicals is anticipated to boost the market in the near future. Demand for graphite heat exchanges is increasing in the chemical industry due to their high chemical resistivity. Moreover, the growing need of energy saving, and rise in price of energy resources upsurges the graphite heat Exchangers application in power generation in various industries.
Graphite Heat Exchangers Market: Regional Outlook
In terms of region, the global graphite heat Exchangers market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in North America and Europe is estimated to expand at sluggish pace, as it is a highly matured region and earlier adoption of these exchangers. The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period due to rapid industrialization in the emerging economies such as India and China. The graphite heat Exchangers market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future owing to high production cost of graphite heat exchangers in these regions.
Global Graphite Heat Exchangers Market: Key Players
Key players operating in the global graphite heat Exchangers market include SGL Group, MERSEN, Graphite India Limited, ALFA LAVAL, Nantong Xingqiu Graphite Equipment Co., Ltd., Nantong Sunshine Graphite Equipment Technology Co., Ltd., CEPIC, GAB Neumann GmbH, Louisville Graphite Incorporated, Nantong shanjian graphite equipment co., ltd., and Jiangsu Ruineng Anticorrosion Equipment Co.,Ltd
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