Product category:
Boilers, Heat Exchangers, Dryers and Refrigeration
News Release from: Frost and Sullivan | Subject: Heat Exchanger Report
Edited by the Processingtalk Editorial
Team on 27 September 2007
European heat exchanger market is
buoyant
Currently, the European heat exchanger market is buoyant, growing at a rate of 10 percent annually, and plate heat exchangers are preferred over shell and tube styles, according to a recent review
The recent escalation of oil prices has prompted the initiation of many projects related to gas to liquid (GTL), liquified natural gas (LNG) and ethylene cracker plants, projects that may have been on hold for many years As a direct consequence, the demand for heat exchangers has increased significantly
This article was originally published on Processingtalk on 7 Feb 2003 at 8.00am (UK)
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New analysis from Frost and Sullivan, in a report titled the European Heat Exchanger Market, suggests that the market for these systems earned revenues of USD3.5 billion in 2006.
"The Iraq war affected the US economy, resulting in significant reductions in investment in the US petrochemical sector and refineries" note Frost and Sullivan Research Analysts Kaushik Ghosh and Debasmita Das: "This provided great opportunities for manufacturers in Europe to bridge this gap in investment, and they form the core end user sectors for heat exchangers".
Currently, the European heat exchanger market is buoyant, growing at a rate of 10 percent annually.
Sectors like chemicals, fuel processing, power generation, pulp and paper, petrochemicals and oil and gas refineries have propelled the demand for heat exchangers.
"The future of the heat exchanger market in Europe, however, lies in plate heat exchangers," cites Ghosh: "Their popularity is growing mainly due to the advantages they hold over shell and tube categories".
Plate heat exchangers are compact, can be modularised in different shapes and sizes, show increased efficiency in heat transfer, incur low installation and maintenance costs and can withstand high temperature and pressure.
These advantages will lead to an increased replacement of shell and tube heat exchangers by plate heat varieties in the future.
Despite the high demand, scarcity and high prices of raw materials represent a serious impediment to heat exchanger manufacturers.
This, in turn, will increase their manufacturing costs, which suppliers have to transfer to end users to save their profit margins.
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