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Increasing demand for food is expected to lead to high demand for organic fertilizer dryers, thereby offering lucrative growth opportunities for players in the market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050.

Moreover, increasing mining activities are expected to boost demand for rotary drum dryers, thereby aiding in growth of the market. For instance, according to India Brand Equity Foundation, mineral production in India grew at a CAGR of 5.72 per cent between 2013-14 and 2017-18E to reach US$ 17.62 billion in 2017-18.

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Key Takeaways:

• Asia Pacific holds the dominant position in the global Industrial dryer market and is expected to witness significant growth over the forecast period 2020-27. This is owing to emerging economies such as China and India. Emerging economies such as India and China are growing rapidly with high growth of various industries such as chemicals, food, pharmaceutical, and mining & minerals. Industrial dryers find major applications in the aforementioned industries. The efficiency of the drying process has a massive impact on the quality of the product and its efficiency as well. Furthermore, the availability of a large number of dryers and their suitability for all kinds of materials have resulted in a dramatic rise in demand from end-use industries.
• Among End-use industry segment, Chemical sub segment is expected to dominate the global Industrial dryer market over the forecasted period 2020-27. This is owing to the significant growth in the chemical industry in the last 2-3 years. For instance, According to the ICCA Economic Analysis Report 2019, Companies in the chemical industry have spent about US$ 3 Trillion in 2017 for buying good, services and machinery. Moreover, the quality of the product in the pharmaceutical industry is a major concern. This is also important due to strict government regulations over product quality and its specification in food and pharmaceutical industry. Generally, products in the industries are heat sensitive that require suitable devices for drying process.