Drying Agents Market Outlook – 2030

Drying agent is an inorganic material used for the absorption process in numerous applications & end-user industries. Drying agents are also called desiccants. Drying agents are hygroscopic in nature which tend to absorb moisture from the vicinity atmosphere. It bears a quality like high polarity provides the ability to dissolve or absorb a significant amount of water molecules. With this ability to absorb moisture, drying agents are used for reducing the humidity from the atmosphere which helps in protecting the goods or material from moisture & degradation. Drying agents are applying the principle of physical absorption which helps to trap the water molecules inside their interstitial space & capillaries. However, drying agents often absorb chemicals which can create a reaction of the drying agents and moisture to form a new mixture. Initially, the drying agents are chemically inert & chemically stable. But in the applications, such as in chemistry lab drying agents often shows less efficacy as they come direct contact with solvents & strong chemicals.

Market Scope and Structure Analysis

COVID-19 Impact analysis

• The significant impact of the COVID-19 pandemic on the growth of the drying agent market can be seen in its application areas. The major application areas of drying agents include food & beverage, which witnessed a decrease in production. However, the demand for these products is projected to increase majorly in the forecasted period due to the increase in demand for processed food products such as milk powders, ready-to-eat foods, and packaged foods.
• Another major sector that has been positively impacted is the pharmaceutical industry. The production of active pharmaceutical ingredients (API) and vaccines by the usage of drying agents has been a constantly growing industry. Uniform micron size particles, as well as heat-sensitive vaccines, are two important factors that are projected to encourage the usage of drying agent in the pharmaceutical industry.

Top Impacting Factors

Ready-to-eat (RTE) foods which refer to that form of animal or plant-derived food products or a combination that can be offered to customers after being pre-washed, pre-cooked, processed, and frozen which do not require any further processing thus, saving time and energy. Further, changes in the lifestyle of consumers over the last decade due to rapid urbanization have led to a high demand for processed and ready-to-eat food products. A steep rise in dual-income levels, standards of living and the demand for convenience have also led to an increase the usage of such drying agents in this type of products. However, it offers a high cost from the required equipment and main auxiliary equipment are expensive regardless of size, type and capacity of drying. They generally have low thermal efficiencies due to the large volume of hot air circulates in the chamber without any contact to particles. Apart from this factor it also bears high maintenance cost, consumes high energy and pressure requirement are the overhead cost. Additionally, it has found it application area in the encapsulation techniques due to its economic advantages as compared to others.

Market Trends

• In April 2021, Charlotte based SPX Flow has acquired the Philadelphia Mixing Solutions which is a 50 million generating revenue company and has around 150 employees.
• In November 2020, Freund Corporation, Tokyo Japan, acquired the Cos.Mec S.r.l., a private company based in Italy which will help in increasing the market presence and customer based.

Key Benefits of the Report

• This study presents the analytical depiction of the drying agents industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the drying agents market share.
• The current market is quantitatively analyzed from 2019 to 2030 to highlight the drying agents market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed drying agents market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the drying agents Report

• Who are the leading market players active in the drying agents market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
• Which Government regulations might challenge the status of key regional markets?
• What are the key barriers to enter for the new players in the market?
• What value proposition should businesses aim at while making new research and development funding?

 Key Market Segments