Global distillation systems market is projected to witness a CAGR of 4.53% to reach US$6.561 billion in 2024 from US$5.029 billion in 2018. Distillation is a method for separating mixtures based on differences in the conditions required to change the phase of components in the mixture. Distillation is widely used for water treatment purposes. Growing industrialization and urbanization coupled with increasing awareness towards water and wastewater management are expected to drive the market during the forecast period. The increasing consumption of alcoholic and non-alcoholic beverages coupled with the rising food & beverage industry is further anticipated to boost the distillation system market in the upcoming years.
Moreover, the growing petrochemical industry and pharmaceutical industries are expected to further fuel up the growth of the market during the forecast period. Increasing product innovation coupled with increasing investment by major market players is expected to boost the market for distillation systems. For instance, Pilodist, a leading supplier for units and systems for thermal separation has launched two new distillation systems in the last two years.
The distillation system market has been segmented on the basis of product type, technique, component, application, and geography. By technique, vacuum segment is expected to hold a significant share owing to its wide usage for separation of heavy hydrocarbon residue. Further, in the application segment, beverages are anticipated to witness significant growth on account of the increasing consumption of alcoholic beverages. Geographically, North America and the European region are anticipated to hold significant market share while Asia Pacific region is also projected to grow at a substantial rate on account of the rising manufacturing opportunities in countries like India coupled with the growing food & beverage industry in the region.
• Growing petrochemical industry.
• Rising industrialization and urbanization.
• Increasing consumption of distilled spirits.
• Presence of alternative drug delivery systems.
• In May 2019, Pilodist expanded its production capacity through the inauguration of a new production hall for the assembly and testing of turn-key systems for distillation and extraction.
• In May 2019, Sulzer acquired GTC Technology US LLC, a technology company offering proprietary processes and systems for the production of aromatics and other petrochemicals, with an aim to strengthen its leadership in petrochemical processes.
• In March 2017, Pilodist launched a new customized distillation system designed to operate under atmospheric as well as vacuum conditions down to 1 Torr in continuous and discontinuous mode by using either a circulation evaporator with level sensors or a distillation flask with an electrical heating mantle.
• In March 2017, Pilodist launched processor-controlled crude oil distillation system for automatic operation.
The major players profiled in the Distillation Systems market include L&T Hydrocarbon Engineering, Pilodist, GEA Group, SPX Flow, Anton Paar, Alfa Laval, EPIC Modular Process Systems, Sulzer, Praj Industries, and Bosch Packaging Technology.
The distillation systems market has been analyzed through the following segments:
• By Product Type
o Pot Still
o Column Still
• By Component
• By Technique
o MED - Multiple-effect distillation
• By Application
o Water Treatment
• By Geography
o North America
o South America
? United Kingdom
o Middle East and Africa
? Saudi Arabia
o Asia Pacific
? South Korea