Jun 23, 2020
Mist Eliminator Market Set to Grow 1.4X by 2030; Demand Witnesses a Marginal Decline Amid COVID-19 Pandemic
by Team Fact.MR
The global mist eliminator market is estimated to be valued at ~US$ 592 Mn in 2020 and surpass US$ 846 Mn by the end of the forecast period (2020-2030). Demand for mist eliminators continues to gain a boost from the expansion of power generation and chemical industry in Asian countries such as China, Japan, and India. This, in turn, is anticipated to create significant opportunities for the players in the mist eliminator market by the end of 2030. However, due to the recent COVID-19 outbreak, the mist eliminator market is experiencing significant setbacks in 2020, as the uptake by end-use industries moves on a downward trend.
Manufacturers are strategizing on working closely with their customers and suppliers to understand their specific needs and serve them with high-performance mist eliminators. In addition, to remain competitive in the future, key players are focusing on supplying tailor-made solutions to their customers according to their plant requirements. This is anticipated to raise the sales of mist eliminators in the foreseeable future.
Key Takeaways of Mist Eliminator Market Study
- Under the Covid-19 impact, the global mist eliminator market is expected to create an absolute $ opportunity of more than ~US$ 253 Mn and grow at a value CAGR of 3.6% during the forecast period 2020-2030.
- Sales of wire mesh mist eliminators are forecast to grow 2.3X over vane mist eliminators in 2020.
- Vane mist eliminator is expected to account for 1/3rd of the overall absolute dollar opportunity created during the forecast period.
- Use in power generation industry is anticipated to grow, gaining 410 BPS in its market share through 2030.
- Metal mist eliminators are projected to account for 65% of the total sales in 2020 and create an absolute $ opportunity of more than ~US$ 185 Mn during the forecast period 2020-2030.
- South Asia & Oceania’s market is expected to record a relatively high value CAGR of 4.6% through 2030.
- North America is projected to be valued 4X the revenue of South Asia & Oceania’s market and account for major chunk of the global market value.
“Governments across the world are implementing stringent environmental regulations to curb carbon emissions, thus generating significant growth opportunities for the mist eliminator market players. Moreover, resumption of manufacturing & production activities in China and less impacted countries by the coronavirus outbreak such as Japan and South Korea will assist the global mist eliminator market growth,” says the Fact.MR analyst.
Key Players Focus on Strategic Contracts to Stimulate Growth
Prominent players in the mist eliminator market are Sulzer Ltd., CECO Environmental, DuPont de Nemours, Inc., Munters Group, Koch-Glitsch, Kimre Inc., Hilliard Corporation, AMACS Process Towers., and Air Quality Engineering, among others. The market is fragmented with a large number of country-level market players focusing on strengthening their presence by strategically deploying prime distributors in local regions. The key players are continuously focusing on grabbing contracts to expand their global footprints. For instance,
- In 2020, Sulzer Ltd. received a contract from ExxonMobil for the supply of its industrial scale cMIST system for natural gas dehydration. The new unit will be installed at an onshore ExxonMobil facility in the U.S.
- In 2020, DuPont de Nemours, Inc. received an order from Next Wave Energy Partners for its STRATCO alkylation technology. Through this contract, Next Wave will also utilize several innovations from DuPont in order to provide its efficient technology to its customers.
Find More Valuable Insights on Mist Eliminator Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global mist eliminator market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the mist eliminator market based on type (wire mesh, vane, and fiber bed), material (metal, polypropylene, and FRP & others), and end user (oil & gas, desalination, power generation, chemical, and others) across six regions.
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