DUBAI, United Arab Emirates, Jan. 26, 2022 (GLOBE NEWSWIRE) — The world contact and convection dryer market is estimated at the top US$199.1 million by 2022. Increasing emphasis on drying across industries as an imperative process for maintaining product quality is driving the growth of the market.
Future Market Insights (FMI) in its latest research study examines the growth trail of the Contact and Convection Dryer Market for the assessment period 2022-2029. According to the research study, sales of contact and convection dryers reached ~2,649 units in 2021, with an estimated annual increase of 2.8% to be observed in 2022.
| Attribute | Details | |
| Estimated market size of contact and convection dryers in 2022 | US DOLLARS$ 199.1 Mn | |
| Projected size of the contact and convection dryer market in 2029 | US DOLLARS$ 252.4 Mn | |
| Historical CAGR of the Contact and Convection Dryer Market (2014-2021) | 2.9% | |
| CAGR Based on Contact and Convection Dryer Market Value (2022-2029) | 3.4% | |
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According to the IMF study, the growing attention to industrial drying as an imperative for maintaining product quality is becoming the foundation for the growth of the contact and convection dryer market. Industrial drying remains one of the most demanding unit operations, and this demand continues to strengthen as end-user industries strive to achieve “operational efficiency”.
According to the report, the role of contact and convection dryers as intermittent drying equipment is expected to be significant in 2022 and beyond, as they meet basic drying requirements before products are transported upstream for complex drying processes. However, a limited installation rate coupled with a low replacement rate are two of the key factors that are expected to pose significant challenges to manufacturers of contact and convection dryers.
Rapidly growing processing verticals unlocking gains in developing economies
The IMF study finds that the explosive growth of processing industries in fast-growing economies, such as South Asia and East Asia, signals the emergence of new opportunities for market players to exploit. Marlet. High adoption of contact and convection dryers to effectively meet drying requirements, especially for powders, remains one of the key factors driving their demand in industrial processing streams. Major market players are redefining their expansion strategies with a stronger focus on these regions, so that they firmly establish themselves in these “already opportunistic” markets and reap significant profits.
According to the study, sales of contact dryers will continue to outpace sales of convection dryers, with global sales estimated at around 1,768 units in 2022. While superior energy efficiency continues to be the main selling point contact dryers, a reduced environmental footprint and low costs are two other factors that underpin their visibility. Moreover, contact dryers possess an unparalleled capacity in terms of heat accumulation and retention, which further ensures its viability in the end-user market.
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Report scope
| Attribute | Details |
| Forecast period | 2022-2029 |
| Historical data available for | 2014-2021 |
| Market analysis | US$ million for value |
| Key regions covered | North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa |
| Main countries covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, North Africa, South Africa |
| Key Segments Covered | Product type, orientation, application and region |
| Profiled Key Companies |
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| Report cover | Market forecast, brand share analysis, competition intelligence, DROT analysis, market dynamics and Challenges, strategic growth initiatives |
As IMF analysis suggests, the contact and convection dryer market exhibits a higher degree of consolidation at the bottom, with mid-tier and emerging players controlling a significant portion of the global market share. Market players will continue to invest in service and supply contracts with end users, a cornerstone of their sales strategy. Market players are capitalizing on the “digitalization” trend to support customers in terms of optimizing designs and operating costs.
Custom contact and convection dryers will remain a priority for manufacturers to jump-start their business models, IMF research reveals. Since product customization is one of the best tools companies can use to understand end-user needs, manufacturers are focusing on product customization to diversify their offerings and reach new markets with minimal changes to their business models. Manufacturers active in the contact and convection dryer market will continue to bet on strategic mergers and acquisitions, with new possibilities thanks to combined expertise and a pool of shared resources.
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Competitive landscape
The major players operating in the global contact and convection dryer market are focused on providing customized products as per the end-use requirements. Some of the other companies aim to enter into strategic collaboration, partnership, acquisition and mergers with players to strengthen their footprint in the market.
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