Regenerative Thermal Oxidizer (RTO) Market: Introduction
Transparency Market Research delivers key insights into the global regenerative thermal oxidizer (RTO) market. In terms of revenue, the global regenerative thermal oxidizer (RTO) market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global regenerative thermal oxidizer (RTO) market.
The global market for regenerative thermal oxidizer (RTO) is largely affected by numerous factors, including rapid industrialization and growing adoption of regenerative thermal oxidizers (RTO) to reduce the emission of VOCs (volatile organic compounds) and HAPs (hazardous air pollutants).
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Regenerative Thermal Oxidizer (RTO) Market: Key Segments
The global regenerative thermal oxidizer (RTO) market has been segmented by control system, industry, distribution channel, and region. Based on control system, the regenerative thermal oxidizer (RTO) market has been divided into volatile organic compounds (VOCs), hazardous air pollutants (HAPs), odor, and others. The demand for RTOs to control VOCs is driven by the increasing emission level of VOCs in different industry sectors. Regenerative thermal oxidizers are primarily developed for large volumes, and low VOC concentration air pollution applications. Moreover, regenerative thermal oxidizers are an energy-efficient solution to destroy harmful air pollutants, and VOCs in paint spray booths and petroleum processing plants.
In terms of industry, the market has been divided into paint & coatings production, petroleum, oil & gas, food, printing, chemicals, pharmaceutical, semiconductor, automotive, and others. The demand from the paint & coatings production segment is anticipated to expand at the highest CAGR of of 5.9% during the forecast period. The increasing demand for decorative paints and industrial paints has encouraged investment in increased production capacities in recent years, and therefore, significant projects of regenerative thermal oxidizers have been installed in this industry. For instance, in December 2020, Nippon Paint Holdings Co. announced its mid-term plan of business expansion. The company aims to expand its production capabilities outside Asia in Europe and North America through strategic acquisitions and mergers.
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In terms of distribution channel, the market has been divided into direct sales and indirect sales. The indirect sales channel is expected to show the fastest growth rate during the forecast period, owing to the rapid penetration of global manufacturers in overseas markets through collaborations with regional technology partners and service providers.
Regenerative Thermal Oxidizer (RTO) Market: Prominent Regions
The global regenerative thermal oxidizer (RTO) market has been divided into North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa), and South America (Brazil and Rest of South America). The demand for regenerative thermal oxidizers (RTO) in Asia Pacific and Europe is anticipated to expand at a faster pace than any other region in the upcoming years, owing to an increasing number of local manufacturers and penetration of international brands and high prevalence of industrial air pollution in these regions. Furthermore, the market in Asia Pacific is expected to expand at a CAGR of 5.5% during the forecast period. In Asia Pacific, the regenerative thermal oxidizer (RTO) market generated revenue worth US$ 809 Mn in 2020. China and India are major countries contributing to the overall demand for regenerative thermal oxidizers (RTO) in the region. The growing paints & coating industry in key countries, including China, Japan, India, Australia, and Indonesia is likely to offer lucrative opportunities to the regenerative thermal oxidizer market in the upcoming years. The expansion of production capacities by leading paint manufacturers in China and Japan is likely to push the demand for RTOs during 2021–2031.
Regenerative Thermal Oxidizer (RTO) Market: Key Players
Key players operating in the global regenerative thermal oxidizer (RTO) market are Anguil Environmental Systems, Inc., BD Group Industries, LLC, Biothermica Technologies Inc., Catalytic Products International, Inc., Condorchem Envitech, Gulf Coast Environmental Systems (GCES), Nestec, Inc., The CMM Group, Ship & Shore Environmental, Inc., and TKS Industrial Company.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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