Mass transfer technology is an important technique used in a variety of industrial processes. It is used to physically separate various materials or substances from liquids or solids in order to produce valuable goods or remove unwanted food or non-food components. Mass transfer technology is important in many sectors, including food packaging and manufacturing, water treatment, chemicals, oil and gas, pharmaceuticals, and many others.
Among these, mass transfer is a significant phenomenon with wide applications in food industries. Very few foods are sold without packaging since food packaging is at the very core of the contemporary food industry. A rise in the need for efficient and sustainable mass transfer equipment solutions for critical operations in various sectors, along with recent advancements and investment in cost-effective and efficient mass transfer technologies are expected to boost the growth of the global mass transfer equipment market.
Newest Insights in the Mass Transfer Equipment Market
Many food processing companies use mass transfer techniques, in which substances are mechanically separated from liquids or solids in order to recover valuable products or remove unwanted food or non-food components. Therefore, mass transfer equipment will be crucial to the food packaging industry in the upcoming years. An increase in the adoption of mass transfer equipment in the food packaging industry is expected to boost the growth of the global mass transfer equipment market. As per a report by Research Dive, the global mass transfer equipment market is expected to grow with a CAGR of 5.4% and surpass a revenue of $5,416.8 million in the 2022-2031 timeframe. The Europe mass transfer equipment market is expected to perceive dominant growth with a CAGR of 5.2% in the years to come. The region has a gigantic demand for mass transfer equipment owing to their growing usage in various end use industries, which is creating growth opportunities for the mass transfer equipment market in the region.
How are Market Players Responding to the Rising Demand for Mass Transfer Equipment?
Many market players are greatly investing in pioneering research and inventions to cater for the rising demand for mass transfer equipment. Some of the leading players are DtEC, Baretti, Sulzer Ltd, Koch-Glitsch., MTE Group., Beijing Zehua Chemical Engineering Co., Ltd., Tianjin Univtech Co., Ltd., Munters Group, HAT International Ltd., Finepac Structures Pvt. Ltd., and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a notable position in the global market. For instance:
- In May 2021, 3D-Micromac, one of the leading companies in laser micromachining, launched a new microLED LIFT mass transfer tool.
- In June 2022, Suzler, a Swiss industrial engineering company, announced the signing of a Memorandum of Understanding with BASF, a leading chemical manufacturer. This collaboration aims to develop renewable fuels by combining Sulzer Chemtech's capabilities and mass transfer equipment with BASF's high-performance catalysts. This partnership is expected to assist the companies in achieving their goals in a more comprehensive and systematic way.
COVID-19 Impact on the Global Mass Transfer Equipment Market
The COVID-19 pandemic outbreak had an adverse effect on the development of the global mass transfer equipment market due to the implementation of a global lockdown, which led to the temporary closing of manufacturing facilities. The demand for mass transfer equipment from various end-use industries reduced massively amidst the pandemic period. The pandemic hampered operations in the industrial sector due to supply chain disruptions caused by import and export restrictions. In addition, companies faced labor scarcity and a lack of raw materials. However, the mass transfer equipment market is projected to experience growth in the post-pandemic period due to growing need for mass transfer solutions in the food packaging industry.