The analysts forecast global industrial fractionating columns market to grow at a CAGR of 2.18% during the period 2018-2022. The latest trend gaining momentum in the market is Adoption of modular column unit design.
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Industrial fractionating columns are usually fabricated as a complete segment and then shipped to the plant site for installation.
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However, some manufacturers have introduced modular columns that can be easily assembled at the site. Similarly, there has been the development of 3D printed parts for distillation columns, which may find future adoption in the manufacture of industrial fractionating columns.
These technologies can lead to faster development and deployment of fractionating columns than conventional manufacturing techniques.
Major key players in the global industrial fractionating columns market: Babcock & Wilcox Enterprises, IDESA, Larsen & Toubro, Morimatsu group, Sumitomo Heavy Industries, TOYO Engineering
According to the industrial fractionating columns market report, one of the major drivers for this market is Growth in global refinery capacity. The global oil and gas refining industry is the largest end-user of industrial fractionating columns.
These columns are used in petroleum refineries to separate out the components of complex crude mixtures, such as gasoline and diesel. Therefore, the growth in global refining capacity has a direct impact on the demand for industrial fractionating columns.
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Further, the industrial fractionating columns market report states that one of the major factors hindering the growth of this market is Rising material and manufacturing costs. One of the challenges for industrial fractionating column manufacturers is the fluctuation in prices of raw materials used in the construction of fractionating columns.
The material cost for the production of fractionating columns forms a significant share of the overall cost of manufacturing. Any significant change in the cost of raw materials can drive down the margins for the industrial fractionating column vendors.
Key questions answered in this industrial fractionating columns market report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?