Report predicts growth in sedimentation, centrifugation global markets
The global market for centrifuges, clarifiers and related equipment will grow by 6.5 percent in 2014, bringing the total revenue to $7.3 billion, according to a report by market research firm The McIlvaine Company.
The report -- Sedimentation & Centrifugation World Markets -- reveals that over the next 12 months the use of water and wastewater products in the chemical and pharmaceutical industries is set to increase, driven by rapid development in both sectors. The fastest growth is expected in Asia, where the chemical industry seems set for significant capital expenditures on chemical plants, while the pharmaceutical industry is predicted to expand generic drugs production.
Globally, sedimentation and centrifugation revenues for the chemical industry for this year are expected to grow, standing at about $161 million for Asia, $140 million for the Americas, $131 million for Europe and $8 million for Africa.
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In the pharmaceutical industry, where filters, piping and pumps are the key hardware products, the main driving force will be increased demand for contamination prevention technology, the report said.
Overall, The McIlvaine Company predicted that sedimentation revenues will increase by about six percent. Global revenues for clarifiers are expected to go up 5.7 percent, keeping the category on top of the chart as the largest market segment, while decanters will rise 4.2 percent and hydrocyclones revenues are forecast to increase by 5.1 percent.