Industrial Agitators Market to attain a net worth of USD 3.24 Billion by the end of 2027: Future Market Insights
As per a recent analysis of the global industrial agitators market, by Future Market Insights (FMI), the global demand for industrial agitators will increase at a robust year-on-year growth rate of 7.1 percent, in 2022, considering its applicability across various end-use industries.
· Global Industrial Agitators Market Size (2022): US$ 2.15 Bn
· Estimated Market Net Worth (2027): US$ 3.24 Bn
· Global Market Growth Rate (2022-2027): 8.6% CAGR
· North America Market Share (2022): 31.6%
“Agitators are used across a host of end-user industries, such as pharmaceutical and bio-tech, food and beverages, oil and gas, coatings and paints, adhesives and sealants, and brewing and distillation, given its maximum operational reliability for any mixing task—ranging from homogenization and suspending to dispersing and gassing. In addition, the demand is projected to remain high among small and medium-sized businesses (SMBs),” said a Senior Analyst, FMI.
APAC Continues to Reflect Potential Installation Opportunities
Regionally, demand for industrial agitators is expected to remain concentrated in North America given the consolidated presence of manufacturers. The trend is likely to be followed closely in the emerging markets of APEJ. Expanding the manufacturing sector combined with a visible shift towards efficient production capacities from conventional utilization capacities will drive up industrial agitators sales in the Asia Pacific, in the coming years.
Substantial Demand Noted in Pharma Mixing Processes
Although in terms of value, the chemicals industry is projected to exhibit maximum demand for industrial agitators, the pharmaceutical industry is also likely to witness significant industrial agitators demand for keeping the medicine-making clean and sanitary. The industrial agitators used in the pharmaceutical industry are specifically equipped with efficient mixing and dispersing technology while offering uniform distribution of substances and product stability. Moreover, advanced mixing solutions offered by industrial agitators during biotechnological production, active pharmaceutical ingredient synthesis production, and hydrogenation of intermediates will supplement to higher sales demand of industrial agitators.
Top-entry Industrial Agitators Gets the Top Spot
Accounting for approximately 70 percent market share, top-entry industrial agitators will dominate the overall adoption landscape, specifically in the chemicals industry. Advantages such as fast mixing, high energy efficiency, zero in-tank maintenance, and adjustable speed and power will make top-entry industrial agitators the most cost-effective mixers.
Manufacturers are increasingly offering customized top-entry industrial tank agitator solutions to meet the unique liquid characteristics for mixing processes in various tanks including, plastic tank, FRP tank, and those made of stainless steel.
On the other hand, side entry industrial agitators will also gain prominence, arising from the shortcomings of top-entry industrial agitators such as the need for a large support structure and a higher initial capital cost. Side entry industrial agitators tend to yield homogeneity with lesser capital during acceptable blend durations apart from effectively blending low viscosity liquids.
The global market for industrial agitators showcases a relatively fragmented landscape, specifically in terms of raw material supply scenario. The global industrial agitators market may remain affected arising from a fragmented supply base with varying degrees of supplier capabilities, intricate pricing and discounting structure, and low profit margins.
Stringent procurement policies along with several regulatory and environmental requirements may further translate into a volatile supply market. On the other hand, further keeping in view the market competitiveness, key players such as Xylem Inc. (holding approximately 25 percent market share), Silverson Machines Inc., and Dynamix Agitators Inc., among others are making product innovations apart from substantial investments in building an efficient distribution network.
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