A recently published report by Fact.MR on spray drying equipment market foretells that sales of spray drying equipment would continue to soar in the long term. In terms of value, the global spray drying equipment market is estimated to surpass the valuation of US$ 820 Mn by 2027 with a year-on-year growth of ~4% in the foreseeable future.
Spray drying equipment is gaining popularity in different verticals owing to its capacity for bulk production in end-use plants. Different end-use industries including food processing, pharmaceutical industries and chemicals are making huge investments to scale their operations in spray drying equipment market. Investments are also being made to enhance manufacturing for commercial purposes for future. Latest Fact.MR report predicts that global spray drying equipment market will exceed US$ 820 value by the end of the year 2017. The annual growth is expected to be at 4% growth rate in the coming future.
Important regions covered in the keyword market report include:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- Japan and MEA
- APEJ (China, India)
Chemical and processed food industry boosts market
Customizations drive the global spray drying equipment market in Asian countries. Asia Pacific is witnessing rapid growth in spray drying equipment market and is responsible for the two-fifth of the total new installations. Growth in demand for different components like chemicals and processed food in Asia Pacific bolsters the global market. Greenfield establishments along with brownfield establishments attract investments in spray drying equipment market. Both type of establishments in different verticals like food, pharmaceuticals and chemical are gaining traction in both developing as well as developed economies. New projects are projected to surge the market growth and the market is expected to expand by 1.3 times the current capacity.
You can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S&rep_id=4418
Drug manufacturing sector also contributes significantly in the global spray drying market. Effective pharmaceutical formulations have positively influenced drug manufacturing in terms of bioavailability and throughput. Spray drying equipment is increasingly used in different mainstream products of the pharmaceutical industry.