The crystallization equipment market is estimated to rise from USD 3,229.6 million in 2024 to USD 4,174.7 million by 2034. Sales of crystallization equipment are anticipated to grow at a CAGR of 3.20% from 2024 to 2034. In 2023, the global crystallization equipment market was valued at USD 3,136.8 million.
Attributes | Key Statistics |
---|---|
Crystallization Equipment Market Size (2024) | USD 3,229.6 million |
Anticipated Market Value (2034) | USD 4,174.7 million |
Value-based CAGR (2024 to 2034) | 3.20% CAGR |
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Increasing Demand for Crystallization Equipment from the Pharmaceutical Sector
The COVID-19 pandemic has substantially transformed the global pharmaceutical industry in many ways. There has been an increasing demand for efficient processes for manufacturing pharmaceutical compounds such as drugs, medications, vaccines, etc. This has resulted in a rapid surge in the demand for crystallization equipment, a critical step in pharmaceutical manufacturing. It is used to isolate and purify chemical compounds, ensuring the production of high-quality pharmaceutical products.
The market has also boomed in the past few years because it helps achieve the desired level of purity, which is crucial for the efficacy and safety of the final drug product. The pharmaceutical industry is continuously expanding due to population growth, aging demographics, and increasing healthcare needs. All of these factors have collectively led to the rise in the significance of crystallization equipment in the pharma industry, thus elevating the global market revenue.
The crystallization equipment market heavily relies on the performance of several industries, such as pharmaceutical, biotechnology, chemical, and food and beverage. The growth of this market is also dependent upon the adoption of advanced technologies and crystallization equipment in manufacturing factory units all over the world. The overall global economic condition also significantly influences the expansion of this market.
Historically speaking, the crystallization equipment market has witnessed several peaks and troughs. During the pandemic, the demand for machine tool equipment rapidly declined as the world faced sudden shutdowns. Sluggish manufacturing needs in the initial phases of the pandemic adversely affected the market. Later on, as the pharma industry boomed, the demand for crystallization processes in the medical industries experienced a remarkable expansion.
Post-pandemic, as the world returned to normalcy and the demand for manufacturing equipment became steady, the market growth became stable. Recessionary economies and the ongoing war-like situations in many European as well as Middle Eastern countries have heavily impacted the petrochemical industry, which is one of the largest consumers of the market. Despite these challenges, the food and beverage industry and technological advancements in biotechnology are expected to propel the market.
Attributes | Key Statistics |
---|---|
Crystallization Equipment Market Value (2019) | USD 2,830.7 million |
Historical Market Value (2023) | USD 3,136.8 million |
CAGR (2019 to 2023) | 2.60% CAGR |
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The pharmaceutical industry has been going through a period of rapid expansion in the past few years. The increasing need for precision and efficiency in drug development and manufacturing in the pharmaceutical industry is one of the critical drivers for the growth of the equipment market. Pharma companies all over the world are investing heavily to bring innovations in the crystallization processes, thus fueling the market growth.
Top End-Use Industry | Pharmaceutical |
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Market share (2024) | 24.00% |
On the basis of the end-use industry, the pharmaceutical industry dominates the market with a whopping market share of 24.00% in 2024. This highly sophisticated technology has not only seen adoption in developed countries but has also gained popularity in developing countries such as India, Brazil, Australia, etc. As the pharma industry continues to grow, the demand for crystallization equipment is bound to experience a considerable expansion.
The batch-type crystallization equipment is gaining tremendous attention from industries all over the world due to its flexibility and ease of control. Batch crystallization allows for the precise manipulation of conditions such as temperature, pressure, and solvent ratios. These factors are crucial for achieving consistent product quality, especially in industries such as pharmaceutical and chemical, where the slightest variation in crystallization conditions can significantly impact the purity and characteristics of the final product.
Top Product Type | Batch-type |
---|---|
Market share (2024) | 31.00% |
On the basis of product type, batch-type crystallization equipment dominates the market with a share of 31.00%. Its demand in the international market can also be attributed to its ability to handle a wide range of production volumes without compromising on efficiency or product quality. This makes batch-type crystallization equipment a preferred choice for small-scale as well as giant manufacturing units in streamlining their operations.
This section provides an analysis of the crystallization equipment market by countries, including the United States, the United Kingdom, Australia, China, and India. The table presents the CAGR for each country, indicating the expected growth of the market through 2034.
Countries | CAGR (2024 to 2034) |
---|---|
India | 3.90% |
China | 3.70% |
Australia | 2.90% |
United Kingdom | 2.80% |
United States | 2.80% |
The crystallization equipment market in India is anticipated to grow at a significant rate of 3.90% CAGR during the forecast period from 2024 to 2034.
The Chinese crystallization equipment market is expected to showcase remarkable growth of 3.70% from 2024 to 2034.
The crystallization equipment market in Australia is anticipated to grow at a significant rate of 2.90% CAGR over the forecast period.
The crystallization equipment market in the United Kingdom is anticipated to grow at a significant rate of 2.80% from 2024 to 2034.
The crystallization equipment market in the United States is anticipated to grow at a 2.80% CAGR over the forecast period.
The competitive landscape for crystallization equipment is filled with numerous international companies with a worldwide reach. The industry is still nascent, with ample room for innovations. There is a noticeable push towards sustainable manufacturing practices in the manufacturing hub, and the crystallization processes are no exception. Despite these challenges, many small to medium-sized enterprises cater to the needs of local manufacturers seeking efficient crystallization services.
Recent Developments
The crystallization equipment market is projected to expand at a CAGR of 3.20% from 2024 to 2034.
The pharmaceutical industry majorly drives the demand for crystallization equipment in the global marketplace.
Amcor, Berry Global, and Sealed Air are some of the leading players in the market.
The market is anticipated to reach USD 4,174.7 million by 2034.
India is the leading country in the market, with a CAGR of 3.90% through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 5.1. Evaporative Crystallizers 5.1.1. Draft Tube Crystallizers 5.1.2. Submerge Circulating Crystallizers 5.2. Cooling Crystallizers 5.2.1. Vacuum Cooling Crystallizers 5.2.2. Continuous Cooling Crystallizers 5.2.3. Scraped Surface Crystallizers 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Seawater Purification 6.2. Drug Purification 6.3. Other Applications 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. MEA 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. MEA Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Alaqua Inc 17.2. Radhe Techno 17.3. Biozeen 17.4. Rosenblad Design Group Inc. 17.5. KEP 17.6. SPX Flow 17.7. SHAANXI AEROSPACE POWER HI-TECH CO.,LTD. 17.8. Buflovak 17.9. Lenntech 17.10. Chem Process Systems 18. Assumptions & Acronyms Used 19. Research Methodology
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