Technological advancements and growing chemical industry to bolster global graphite heat exchanger market through 2024
According to TechSci Research report, “Global Graphite Heat Exchanger Market By Product, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global graphite heat exchanger market is projected to grow at a CAGR of over 9% during 2019-2024. Anticipated growth in the market can be attributed to graphite heat exchangers’ environment friendly nature and various advantages such as high operating efficiency and reduced energy consumption. Graphite heat exchangers are used across a wide range of applications, including chemical plants, petroleum refineries, petrochemical plants and food processing plants. Graphite is one of the most cost-effective materials to be used, thereby positively influencing global graphite heat exchanger market during the forecast period.
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By end user, global graphite heat exchanger market has been categorized into chemical, petrochemical, metal surface treatment, pharmaceutical, food & beverages and other industries. The chemical industry led the market in 2018 and is expected to account for majority of the global market in coming years, owing to growing demand for chemicals in emerging economies. Europe dominated global graphite heat exchanger market over the past few years and is likely to maintain its leading market position during 2019-2024, on account of increasing government spending on activities in the oil & gas sector. Moreover, growing need from chemicals and hydrocarbons sectors would drive the region’s graphite heat exchanger market during the forecast period.
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“Demand for graphite heat exchangers is growing rapidly, owing to power requirement for commercial and non-commercial purposes, on account of rising population and economic growth in developing nations. Rapid industrialization in developing countries of Asia-Pacific like India, China and Japan is expected to offer lucrative growth opportunities to players operating in graphite heat exchanger market over the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Graphite Heat Exchanger Market By Product, By End User, By Region, Competition, Forecast & Opportunities, 2024,” has evaluated the future growth potential of global graphite heat exchanger market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global graphite heat exchanger market.
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