Solvent Recycling Equipment Market: Introduction
The Solvent Recycling Equipment separates accumulated sand particles and hydrocarbons from solvent using distillation process to turn solvent waste back into functioning solvent. It can recycle most solvents used in processes such as electroplating, metal finishing, paint and powder coating, parts washing and vapor degreasing ultimately reducing new solvent cost as well as disposing issues. From end user point of view, purchasing a Solvent Recycling Equipment allows companies to avoid waste management cost and streamline the operations. The plant owners are looking to explore recycling alternatives due to complex issues associated with waste management in the industrial sector. Most of the waste from degreasing operation in the plants are hazardous waste due to their constituents such as xylene, MEK, acetone among others. Many businesses contract with an outside management company to haul waste off-site for recycling. Generally, it is expensive to haul waste that is considered a hazardous waste. Solvent Recycling Equipment is an alternative to recycle these solvents on-site that reduces the cost of disposal significantly and operational cost to replace spent solvent. There are various technologies and equipment available in the market but the most popular technology is the use of distillation for increasing the efficiency of degreasing and cleaning operations and slashing the cost of waste disposal.
Solvent Recycling Equipment Market: Drivers and Restraints
The number of solvent recyclers have increased rapidly over the recent past as awareness among manufacturers for preserving environment is picking pace across the globe. The designated areas for landfill have become limited while government authorities are imposing strict regulations for the waste management. As a result, it has become almost important among plant owners to minimize the industrial waste at the source not only for reducing stress on environment but to also reduce the cost of buying solvent. The organizations working for protecting environment are teaming up with manufacturers for making the process more energy efficiency and cost effective to recycle solvents, which are used in the chemical industry to manufacture different kind of products such as coatings, printing inks, and polymers. The primary driver of market growth is environmental sustainability. However, notable installation cost due to required machinery and coupled with maintenance cost and heavy research and development investments will be the major barrier to market growth.
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Solvent Recycling Equipment Market: Segmentation
On the basis of design, the Solvent Recycling Equipment market can be segmented into:
- Simple Distillation
- Fractional Distillation
On the basis of capacity, the Solvent Recycling Equipment market can be segmented into:
- Low Capacity ( Below 16 Gallons)
- Medium Capacity ( 16-55 Gallons)
- High Capacity (Above 55 Gallons)
On the basis of sales channel, the Solvent Recycling Equipment market can be segmented into:
- Chemical Plants
- Food & Beverages
- Medical device
Solvent Recycling Equipment Market: Region-Wise Outlook
The global Solvent Recycling Equipment market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, Western Europe, Japan and North America plant operators will be expected to account for the major share of the market mainly driven by strong focus of government authorizes toward following sustainable industrial operations. Furthermore, the focus of the authorities with mission to protect the environment towards disposal of hazardous solvents will drive the demand for Solvent Recycling Equipment in this developed part of the globe. Asia Pacific region is expected to grow at rapid as high growth economies located in the region will witness rapid industrialization. The MEA, Latin America and Eastern Europe will also offer attractive opportunities for the market players.
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Solvent Recycling Equipment Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Solvent Recycling Equipment market include:
- Maratek Environmental
- Solvent Waste Management, Inc.
- CleanPlanet Chemical
- Best Technology Inc.
- BECCA Inc.
- NexGen Enviro Systems
- Alltrade Recycling Equipment
- CBG Biotech
- Air Power Inc
- OFRU Recycling GmbH & Co. KG