Industrial Fractionating Columns Market – Growth in Global Refinery Capacity to Boost Demand | Technavio

LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
industrial fractionating columns market predicts a CAGR
of over 2% during the period 2018-2022.

The report segments the global industrial fractionating columns market
based on application (oil and gas, and chemicals and petrochemicals),
and by geography (the Americas, EMEA, and APAC). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global industrial fractionating
columns market, according to Technavio heavy
industry researchers:

• Growth in global refinery capacity: a major market driver
• Adoption of modular column unit design: emerging market trend
• APAC dominated the global industrial fractionating columns market with
  over 45% share in 2017

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Growth in global refinery capacity: a major market driver

Growth in global refinery capacity is one of the major factors driving
the global industrial
fractionating columns market. The global oil and gas
refining industry is the largest end-user of industrial fractionating
columns. These columns are used in petroleum refineries to separate out
the components of complex crude mixtures, such as gasoline and diesel.

According to the US Energy Information Administration (EIA), the global
consumption of liquid fuels in 2016 was estimated at 96.47 mbpd (million
barrels per day), as compared with 86.43 mbpd in 2007. Therefore, the
growth in global refining capacity has a direct impact on the demand for
industrial fractionating columns.

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Adoption of modular column unit design: emerging market trend

Industrial
fractionating columns are usually fabricated as a
complete segment and then shipped to the plant site for installation.
However, some manufacturers have introduced modular columns that can be
easily assembled at the site. Similarly, there has been the development
of 3D printed parts for distillation columns, which may find future
adoption in the manufacture of industrial fractionating columns. These
technologies can lead to faster development and deployment of
fractionating columns than conventional manufacturing techniques.

According to a senior analyst at Technavio for unit
operations research, “Modular process design involves the
design and fabrication of discrete, self-contained units or portable
skids, which can then be easily stacked or installed at the construction
or plant site to form a whole fractionating unit. The modules are
fabricated in a controlled environment, which leads to greater
efficiency and lowers the effect of external factors on the fabrication
process. It also reduces the time required and complexity of work to be
performed at the work site.”

Vendors such as EPIC Systems and Koch-Glitsch have been working on
developing such modular process systems that reduce the engineering and
construction period for distillation units.

Global market opportunities

In 2017, APAC held the largest share of the global industrial
fractionating columns market, accounting for more than 45% of the global
demand. The region is expected to post very rapid growth during the
forecast period. A major factor pushing the demand for industrial
fractionating columns in the region is the growing demand for refined
fuels from the automotive and power generation industries.

APAC is followed by the Americas in terms of market share. Most of the
demand for industrial fractionating columns in the region is
concentrated in the US, Canada, Brazil, and Venezuela. The growth in
shale gas explorations in the US and Canada and the subsequent increase
in refining capacity is expected to be a major factor driving the demand
for industrial fractionating columns in the region.

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