The newest market research study by Future Market Insights on odour control system includes the global industry analysis for 2014–2018 and market forecast for 2019–2029. The study observes the odour control system market and offers detailed perceptions for the forecast period of 2019-2029. According to the analysis and study done in the report, the global odour control system market is anticipated to observe prominent progress, due to increasing adoption in the chemical industry.
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- The market value of global odour control system in 2019 is estimated at ~ US$ 1
- During the forecast period of 2019-2029, the odour control system market is anticipated to grow at a CAGR of ~5%.
- Adoption of odour control systems in chemical & petrochemical industry is likely to account for relatively high sales over the forecast period.
- The growth in demand for odour control systems in the chemical and petrochemical industry can be primarily attributed to their increasing usage in existing as well as new industrial plants.
- APEJ (Asia Pacific Excluding Japan) is anticipated to hold more than one third of the revenue shares in the odour control system market by the end of 2029.
- APEJ will continue to be an opportunistic market for odour control system manufacturers and distributors, owing to increasing industrial and infrastructure development.
- The odour control system market in Japan is also anticipated to grow at significant rate, complying with the stringent regulations imposed by the government for controlling odour emissions through industrial as well as municipal sectors.
- Growing concerns towards E-waste maanagement and waste recycling services across the globe are anticipated to drive growth in odour control system installations
Installation of hybrid odor control systems and demand for advanced and cost-effective odour control system from various industrial and government entities have increased significantly. This growing demand for progressive products generates pressure on manufacturers to deliver technologically-advanced and unique product offerings. Thus, technological advancements have led to noteworthy investment in research and development by manufacturers. Manufacturers in the odour control system market are constantly focusing on developing unique technologies, which help them differentiate their products and earn a competitive edge.
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Odour control systems play a crucial role in wastewater and solid waste treatment facilities. Individual odour control systems can be installed at various locations in a single wastewater treatment facilities, or a centralize system could be installed for low capacity plants. Increasing investment for the effective and efficient waste management, establishment of new plants and capacity increase of existing facilities, and also growing intolerance towards odours, are factors expected to increase the demand for odour control systems in near future.
Japan to Provide Noteworthy Growth Opportunities for Manufacturers
The ongoing technological advancements and progression in investment for the storm water management projects and wastewater treatment facilities are expected to grow significantly over the forecast period. Odour control system manufacturers are focusing more on improving their market structures and offerings in the region.
Emphasis on trade balance and increasing production by strengthening the manufacturing sector is currently the prime motive of the government in Japan. Also, the adoption of ‘best available technique’ is prominent in the country, which is likely to propel the demand for advanced odour control system. Japan has large installed base of odour control systems which are likely to get regular up gradation and replacements. Considering the average life of the odour control systems and the install base, the market in Japan is estimated to surge in next few years.
For the global odour control system manufacturers, Japan is projected to be a prominent market throughout the forecast period, owing to the increasing consumption and production of odour control systems across several industries.
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Chemical & Petrochemical Industry to Capture Prominent Share
The division of the global odour control system market has been done on the basis of application, along with six regions. High application potential of odour control system is identified in chemical & petrochemical industry. These industries produce odorous compounds such as hydrogen sulfide, ammonia,mercaptansand several others.The air contains odorant molecules, which must be treated to avoid corrosion and to comply with environment regulations, hence mandating the use of odour control systems in chemical & petrochemical industries.