Global Graphite Heat Exchanger Market to Grow at Over 7% CAGR till 2024
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 7% 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. Asia-Pacific dominated global 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.
“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.
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“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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