Mushrooming industries worldwide belching out carbon dioxide and other greenhouse gases, namely nitrous oxide and methane has upped the global temperature and consequently humidity in the atmosphere. This has brought about demand for dehumidification equipment from different industries such as chemicals, food and beverages, and pharmaceuticals. With higher levels of humidity more number of desiccant wheels are required to absorb moisture and this has been the single-most important growth driver in the market.
Soaring demand for energy efficient heating, ventilation, and air-conditioning (HVAC) equipment wherein desiccant-wheel-based dehumidification systems help by lowering the steep cost of HVAC systems with low energy consumption and operational intelligence has also stoked their demand.
A drawback of desiccant wheels, however, is that they wear out fast in a humid atmosphere and their efficiency takes a beating. This necessitates their fast replacement thereby leading to increase in the operational costs. This is slated to serve as roadblock to their market’s growth in the near future. Another problem with desiccant wheels is that they absorb pungent odors of cigarettes and building materials while sucking in the moisture. This odor becomes overpowering when the desiccant is reheated to remove adsorbed moisture during the regeneration process.
Expanding at a steady CAGR of 5.0% from 2015 to 2024, the global desiccant wheel market is forecasted to achieve a value of US$463.0 mn by 2024 from USS296.5 mn in 2015.
Cheaper Cost and Excellent Moisture Absorption Capacity Makes Silica Gel the Dominant Desiccant
The different types of desiccants used in desiccant wheels are molecular sieve, activated alumina, and silica gel. Of these, the silica gel segment leads the market. In 2015 it accounted for a substantial 68% of the global market. This is on account of its comparatively cheaper cost and excellent moisture adsorption capabilities, resulting in a dryer air. Additionally, silica gel desiccants have been labelled as safe enough for use in the food and beverage industry by many regulatory bodies. Further, it is non-flammable and has longer shelf life.
Depending upon application, the key segments of the global desiccant wheels market are electronics, pharmaceuticals, chemicals, food industry, and warehousing, among others. Among them, pharma companies and chemicals manufacturers make significant use of desiccant wheels to maintain optimal humidity levels inside the manufacturing unit.
Browse the full Global Desiccant Wheel Market report http://www.mrrse.com/desiccant-wheel-market
Industrialization and Infrastructure Development to Drive Stellar Growth in Asia Pacific
Geographically, North America is a key market that holds a dominant position. The market in the region has been primarily driven by demand from the pharmaceutical and chemical sectors. Manufacturing units of pharmaceutical products need a controlled environment as these products are highly reactive to moisture. In terms of growth rate, however, Asia Pacific, powered by India and China is slated to outshine all other regions. This is because of the increasing manufacturing activities in the region and the rising heating ventilation and air conditioning (HVAC) needs on account of a fast expanding infrastructure in the region. Further, presence of many desiccant wheel manufacturers and product varieties at affordable prices is also predicted to push growth.