Thermosyphon Evaporators Market: Introduction
- Evaporators are devices, which are used to separate a solvent from a compound. It can be used to extract a solid by separating the liquid from it or to concentrate and purify solutions which reduce the amount of the end product and remove the impurities for safer storage and consumption.
- Flooded evaporators are divided into forced-flow evaporators and thermosyphon evaporators. Thermosyphon evaporators are used in various industrial processes.
Key Drivers of the Thermosyphon Evaporators Market
- Rise in demand from the nuclear industry is the major factor driving the growth of the market. At the end of 2017, global nuclear capacity of 448 operable reactors stood at 392 GWe, up 2 GWe on the total recorded at the end of 2016. According to the World Nuclear Industry Status Report 2018, 15 countries are building nuclear power plants, with two newcomers: Bangladesh and Turkey. As of July 1, 2018, more than 50 reactors were under construction in these 15 countries. Total capacity under construction is 48.5 GW.
- Increasing research and development activities in pharmaceutical industries to introduce novel therapeutics requires evaporators for many procedures during drug development. Rising demand to attain the highest purity in drugs is one of the important factors driving the demand for thermosyphon evaporators. According to The European Federation of Pharmaceutical Industries and Associations, the world pharmaceutical market was worth an estimated US$ 852,647 Mn at ex-factory prices in 2017.
- Furthermore, these durable, robust, and high functionality thermosyphon evaporators are widely used to evaporate media in oil-chemical, gas, oil, chemical, and other industrial processes.
- Technological advancements have led key players to initiate the development of new and innovative products with enhanced features and more accurate results. This has further prompted other industry participants to reduce product prices, resulting in increased competition.
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Nuclear End-user Segment to Witness Attractive Opportunities
- In terms of end-user, the market can be divided into the following segments: chemical, nuclear, pharmaceutical, and other. In terms of revenue, the nuclear segment is expected to contribute significantly during the forecast period. The operation of the nuclear process generates two types of wastes i.e. high-level waste and low-level waste. High-level waste consists of spent fuel, fission products, and transuranic materials generated during the fission reaction. Low-level wastes are filters and resins used for purification. High-level liquid nuclear waste from the plants are sent for permanent storage. The quantity of the waste is high if stored in the waste vault; it requires larger tanks and constant surveillance. Thus, thermosyphon evaporators are used to reduce the volume of high-level liquid nuclear waste.
Asia Pacific Region to Hold a Major Share of the Global Thermosyphon Evaporators Market
- In terms of region, the global thermosyphon evaporators market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global thermosyphon evaporators market in 2018, and is expected to expand at a prominent CAGR during the forecast period. The region is the major hub for key pharmaceutical, chemical, and nuclear firms which has a positive influence on the growth of the market.
- The U.S. is the major market in North America as well as in the global thermosyphon evaporators market. According to World Nuclear Association, the number of operable reactors in the U.S. stood at 99 by the end of 2017.
- The market in Asia Pacific is expected to expand at the highest pace during the forecast period.
- China, India, Japan, and Indonesia are the major contributors to the Asia Pacific thermosyphon evaporators market
- At the beginning of 2018, China had 38 operable nuclear reactors, representing about 9% of the world’s nuclear capacity. The country continues to dominate the new-build market, accounting for three of the four grid connections in 2017, and 18 of the 59 reactors under construction at the start of 2018.
- In terms of revenue, Europe and Latin America are expected to contribute significantly to the expansion of the thermosyphon evaporators market during the forecast period
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Key Players Operating in the Thermosyphon Evaporators Market
The global thermosyphon evaporators market is highly concentrated with top manufacturers accounting for approximately 40%–45% share of the market. A few key players operating in the global thermosyphon evaporators market are:
- Rufouz Hitek Engineers Pvt. Ltd.
- Shanghai Baofeng Machinery Manufacturing Co., Ltd
- NPK Elliron CJSC
- Simmakers Ltd
- ATR ASAHI Process System (P) Ltd
Global Thermosyphon Evaporators Market: Research Scope
Global Thermosyphon Evaporators Market, by End-user
Global Thermosyphon Evaporators Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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