Solvent Evaporation Market Expected to Reach $1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Solvent Evaporation Market," The solvent evaporation market size was valued at $588.45 million in 2022, and is estimated to reach $1,036.14 million by 2032, growing at a CAGR of 5.8% from 2023 to 2032.

Solvent evaporation is a process involving the controlled removal of a liquid solvent from a solution or mixture, leaving behind concentrated solutes or desired substances. This technique finds widespread application in diverse industries, enabling the purification, concentration, or recovery of valuable compounds. By subjecting the solution to controlled conditions of temperature, pressure, and sometimes airflow, solvent molecules transition from liquid to vapor state, facilitating the separation of solutes. This method plays a pivotal role in various scientific, industrial, and research endeavors, facilitating the isolation and further processing of substances for diverse applications.

The solvent evaporation market size is expected to witness significant growth due to rise in demand for high purity compounds in various industries. High-purity compounds are essential in pharmaceuticals and biotechnology industries, as they ensure the safety, efficacy, and quality of end products. Solvent evaporation plays a crucial role in the purification and concentration of compounds, removing impurities and undesired components. 

As the need for more advanced and sophisticated drugs and specialty chemicals rises, the demand for high purity compounds is escalating. This solvent evaporation market trends is fueled by factors such as the increase in focus on personalized medicine, the development of novel therapeutic agents, and the demand for high-performance samples in pharmaceutical industries. Moreover, stringent regulatory requirements in pharmaceutical and chemical sectors necessitate the use of high-purity compounds, further driving the adoption of solvent evaporation systems. 

As a result, manufacturers are investing in state-of-the-art solvent evaporation technologies that can ensure precise and efficient removal of solvents, leading to high-purity end products. This rise in demand for high-purity compounds is anticipated to propel the growth during solvent evaporation market analysis. Furthermore, the rise in the presence of key players and adoption of different strategies such as product launch, expansion and agreement, are further driving the market growth. 

For instance, in November 2021, ATS Automation Tooling Systems Inc., an industry-leading automation solutions provider, announced that it has entered into a definitive agreement to acquire SP Industries, Inc., a designer and manufacturer of high-grade biopharma processing equipment, life sciences equipment, and lab apparatus products for $445 million. This agreement will expand capabilities and offerings through the addition of its aseptic and non-aseptic lyophilization portfolio and its fill-finish solutions and enhances its position in the pharmaceutical drug development and production end-markets. Thus, adoption of such strategies can further potentially boost growth during the solvent evaporation market forecast.

However, factors that restrain the market growth include challenges related to sustainability and environmental concerns associated with solvent usage and disposal. In addition, the high initial investment required for advanced solvent evaporation equipment and technology may hinder adoption, especially among smaller enterprises. Moreover, the complexity of some solvent evaporation processes and potential limitations in scalability for certain applications might pose barriers to market growth. Depending on the type, the rotary evaporator segment dominated the solvent evaporation market share in terms of revenue in 2022 and is anticipated to register highest CAGR during the forecast period, owing to its widespread use in various industries, including pharmaceuticals, biotechnology, and chemical research.

In addition, the rotary evaporator's efficient performance, precise temperature regulation, rapid evaporation rates, and adaptability to diverse solvents. These advantages position it as the favored option in laboratory settings, propelling the growth of this segment. On the basis of end-user, the pharmaceutical and biopharmaceutical industry segment accounted for the largest share in terms of revenue in 2022, owing to increase in demand for drug development, drug manufacturing, and advanced therapies. 

In addition, the industry's emphasis on personalized medicine, biologics, and pioneering treatments has spurred a heightened requirement for automated solvent evaporators. These advanced systems cater to the industry's evolving demands, enhancing efficiency and precision in solvent evaporation processes. This strategic alignment has further catalyzed the sector's expansion, as automated solvent evaporators play a pivotal role in facilitating the development and production of novel pharmaceuticals and biopharmaceuticals.

However, the research and academic institutes segment is expected to witness the highest growth during the forecast period. The research and academic institutes sector are projected to flourish due to escalating investments in research endeavors. The demand for enhanced analytical techniques and the exploration of novel materials and compounds fuels this surge. As these institutions drive innovation, the segment's expansion is driven by their pivotal role in advancing scientific knowledge, fostering breakthroughs, and shaping the future of diverse fields.

North America held the highest market solvent evaporation market share in terms of revenue in 2022 and is expected to maintain its dominance throughout the forecast period. This is attributed to a robust pharmaceutical sector, advanced research capabilities, and stringent regulatory standards. In addition, the strong presence of key players offering advanced solvent evaporators is driving the market growth in this region. 

However, the Asia-Pacific region is expected to witness significant expansion due to growth in the pharmaceutical and biotechnology industries, advancements in research and development, and increase in demand for high-quality products. As Asia-Pacific gains momentum, its dynamic market landscape underscores a shifting global focus, driven by innovation, industry maturation, and an increase in demand for top-tier offerings. 

Key findings of the study
• On the basis of type, rotary evaporators segment dominated the solvent evaporation industry in terms of revenue in 2022 and is expected to grow at the highest CAGR during the forecast period.
• On the basis of end-user, the pharmaceutical and biopharmaceutical industry segment dominated the solvent evaporation industry in terms of revenue in 2022. However, the research and academic Institutes segment is anticipated to grow at the highest CAGR during the forecast period.
• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.