The global freeze drying equipment market is forecast to grow at a CAGR of 6.72% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: The introduction of smart freeze dryers is one of the key trends spurring this market's growth. Businesses and corporations today are spending generously toward R&D to achieve cost synergies and overall process optimization. Increasing efficiency and lowering operating costs and emissions have become the key performance indicators of almost all the process-based industries.
Freeze drying remains a relatively expensive technique of drying. With the world moving toward the adoption of smart technologies that enable remote monitoring to provide optimized results, the freeze drying industry is also gradually moving in the same direction.
Vendors in the freeze drying equipment market have introduced products such as smart freeze dryers that offer increased reliability and affordability. These dryers are based on proven, standardized modules and are designed according to the specific size and technology requirements of each customer.
Besides being cost effective, these dryers also facilitate planning, validation, and documentation, and significantly reduce delivery times. Standardized modules are more cost-efficient to produce and more reliable than bespoke systems, resulting in lower purchase and maintenance costs.
According to the report, declining raw material prices generating greater margins is a key driver contributing to the growth of this market. Freeze dryers used in the process industry make use of stainless steel as the primary raw material. The variation in the price of steel, thus, can be directly reflected in the total cost of freeze dryers.
Global steel prices have been weak and reached $365/ton in 2016, the lowest in a decade. The sharp decline in steel prices can be attributed to the global oversupply. The oversupply was a result of the weakening appetite in China for manufacturing. China, which accounts for around half of global steel production, witnessed a downturn in domestic demand, resulting in increased export of steel.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Cuddon Freeze Dry
- Millrock Technology
- SP Industries
- Martin Christ Gefriertrocknungsanlagen
- Optima Packaging Group
- Telstar Lifescience
- Tofflon Science and Technology
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market drivers
PART 07: Impact of drivers
PART 08: Market challenges
PART 09: Impact of drivers and challenges
PART 10: Market trends
PART 11: Market segmentation by product type
PART 12: Geographical segmentation
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/fw6qb3/global_freeze
Related Topics: Medical Devices, Food Processing, Industrial Machinery
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/research-and-markets---global-freeze-drying-equipment-market-cagr-growth-of-672-by-2020---trends-technologies--opportunities-report-2016-2020---key-vendors-telstar-lifescience-tofflon-science--technology-labconco-300330880.html
SOURCE Research and Markets