Industrial Agitator Market Research Report: Size, Share, Growth, Trends 2021-2031
Increasing government assistance in the form of subsidies is encouraging small and medium-sized business (SMBs) to expand, hence boosting demand in the global industrial agitator market. These devices' total production costs have been decreased because to their low power consumption and rapid mixing speed. The demand for these devices in different applications is projected to be fueled by key properties such as durability, impact resistance, and energy economy.
They are made to suit the high-capacity demands of a variety of manufacturing-related applications. The rising complication of industrial agitators' designs, as well as their wide range of applications, has necessitated their cautious selection in the industrial sector. In the food and beverage and chemical industries, precise design requirements, required capacity levels, and high accuracy enable effective mixing. Because significant manufacturers are focused on product differentiation, the sector has a lot of room for growth.
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Technological improvements in agitators, such as speedier mixing, automatic tailored advantages, device flexibility, and strong construction, are driving the need for existing agitators to be upgraded in order to achieve an effective mixing process. However, market expansion is projected to be hampered by the high maintenance cost and continual support requirements.
Industrial agitators are already widely employed in a variety of applications. These agitators are projected to be well suited for water as well as wastewater treatment, and also pulp and paper manufacturing. Industrial agitators are employed in water and wastewater treatment uses, such as drinking water processing, and are mostly utilized in wastewater treatment facilities. Industrial agitators are also projected to be used for all types of stock-agitating operations in the pulp and paper industry. Many major market players provide a variety of goods and solutions for a variety of applications, including flue gas desulfurization, biofuels and bio-refineries, and adhesives and sealants.
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Global Industrial Agitator Market - Snapshot
Demand for industrial agitators is increasing in the chemical market in Asia Pacific, except Japan. Generally, in a chemical manufacturing unit, agitators are a ubiquitous equipment and are extensively utilized to stir chemical compounds. As per European chemical industry association CEFIC (European Chemical Association), demand for chemicals is expected to increase in China and other emerging economies in Asia Pacific, with the exception of Japan. The market share held by China in the chemical market in Asia Pacific increased from 14.8% in 2007 to reach 37.2% in 2017. India and South Korea also gained share in the global chemical market. On the other hand, North America and Europe lost share in the global market. Expansion of the chemical market in Asia Pacific is expected to offer significant opportunity to key players operating in the industrial agitator market.
It has been observed that the type of impeller determines the quality of an industrial agitator. Generally, an agitator consists of a shaft, which is also known as an impeller. An impeller is a part of an industrial agitator, which actually carries out the mixing work by rotating and creating a flow in the liquid. Generally, impellers are of two types: axial flow and radial flow impeller. The general trend is that radial flow impellers are employed to mix low viscosity liquids, while axial flow impellers are utilized to mix high viscosity liquids. Thus, the type of impeller used by an industrial agitator determines its quality.
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The prominent raw materials used to manufacture agitators include steel, titanium, and nickel. Global industrial agitator manufacturers have developed long-term supply contracts with raw material suppliers to lower production cost. Thus, according to Porter’s five force analysis, suppliers who provide raw materials to players in the agitator market have low bargaining power.
Prominent end-use industries consuming industrial agitators include chemical, food & beverage, and wastewater treatment. As per Porter’s five force analysis, these end-use industries have a high bargaining power, as they purchase a large volume of industrial agitators. These industries expect good aftersales service from the players operating in the industrial agitator market. Consequently, end-users of industrial agitators have a high bargaining power.
A company needs to have a good understanding of industrial mixing technology in order to enter the industrial agitator market. Furthermore, high initial investment is required to manufacture industrial agitators. Therefore, the threat of new entrants is medium in the global industrial agitator market.
Apart from agitators, various types of mixing technologies, such as pulsed mixing, sluicing mixing, jet mixing, wave mixing machines, airlift circulators, wave machines, and sonic probes, are available in the market.
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