Resin Dryers Market Revenue to Hit US$ 24.65 Billion at a CAGR of 4% by 2033: Fact.MR Analysis

Key Players Offer Advanced Resin Dryers to Absorb Moisture with Artificial Intelligence Technology to Perform Better and Communicate while Drying.

Rockville, May 31, 2023 (GLOBE NEWSWIRE) -- The global resin dryers market is estimated to capture a valuation of US$ 16.65 billion in 2023 and US$ 24.65 billion by 2033. The resin dryers industry is projected to increase at a CAGR of 4% over the forecast period.

Key Takeaways:

The resin dryers market is anticipated to register a better CAGR between 2023 and 2033.

The manufacturing sector dominates the global market by capturing a maximum share by 2033.

North America is dominating the global market by estimated to secure a relevant share during the forecast period.

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Which Countries Influence the Global Market and Why?

Various countries influence the global market by several factors. These countries are as follows:

China: China is estimated to capture a maximum global market share during the forecast period. The increasing end-use industries such as consumer goods, automotive, packaging, and electronics are leading China market. The rapidly growing manufacturing is increasing the adoption of resin dryers to ensure safety, better performance, and high-quality drying processes.

United States: The United States is anticipated to capture a significant share due to growing end-user industries such as aerospace, consumer goods, and automotive. The manufacturers in the country develop high standards, better quality, and consistent products to meet consumers' requirements.

Germany: The rapidly growing manufacturing sector such as chemicals, machinery, and automotive are surging the demand for resin dryers in Germany. The country focuses on sustainability to reduce environmental impacts by developing high-quality resin dryers.

Japan: Japan is another country increasing the demand for moisture-removing solutions for various electronics, chemical, and automotive industries. Manufacturers are adopting advanced technology, such as artificial intelligence, to develop high-quality, innovative, and improved resin dryers in Japan.

India: The growing industries such as manufacturing, packaging, construction, and automotive are fueling the Indian market during the forecast period. The rising demand for plastic products to enhance the quality of resin dryers is significant in securing huge revenue in the country.

South Korea: South Korea is another country that has a strong presence in the global market. The rising end-use industries, developing high-quality products and innovations, are securing better market share in the country.

Common Reasons Behind the Demand for Resin Dryers are:

Growing manufacturing and industrialization.

Product consistency and maintaining high-quality standards.

Focus on sustainability, innovations, and technological advancements.

Stringent regulation to reduce environmental impacts.

Increasing demand for plastic products by several industries.

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How Are Key Players Adding Values in the Global Market?Key players innovate unique and improved products by investing huge amounts in research and development activities. These players contribute key roles by focusing on consumers' requirements and offering advanced products to attract them. They are adopting several marketing tactics to upsurge the global market to another height. These marketing methodologies are mergers, collaborations, acquisitions, product launches, and agreements.

Recent Developments in the Global Market are:

Motan Colortronic announced its newly launched product MOTANCONNECT. It offers remote monitoring, material handling, and control of resin drying.

Wittmann Battenfeld announced its new product Wittmann 4.0. It provides communication while resin drying, seamless integration, and better connectivity.

Matsui America launched its advanced and improved resin dryer MDW-2000. It develops for large enterprises and is designed to offer high-quality moisture-removing solutions.

Key Companies Profiled

Novatec, Inc.

Conair Group

Motan Colortronic

Wittmann Battenfeld

Matsui America

Una-Dyn (Maguire Products)

AEC, Inc. (Auxiliary Equipment Company)

Moretto S.p.A.

Shini Plastics Technologies, Inc.

Piovan S.p.A.

Koch-Technik

Summit Systems

Bry-Air (Asia) Pvt. Ltd.

Tummers Group

Sterling

Maguire Products, Inc.

Dri-Air Industries, Inc.

Comet Plastic Equipment, LLC

Labotek A/S

Shini Group

Key Segmentation in the Global Resin Dryers Market are

By Type:

Desiccant Dryers

Hot Air Dryers

Vacuum Dryers

Compressed Air

By Technology:

Dehumidifying Dryers

Convection Dryers

Infrared Dryers

Centrifugal Dryers

By Application:

Automotive

Packaging

Construction

Consumer Goods

By Capacity:

Small Capacity Dryers

Medium Capacity Dryers

Large Capacity Dryers

By End-user Industry:

Plastics Manufacturing

Chemical Industry

Food & Beverages

Pharmaceuticals

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Key Questions Covered in the Resin Dryers Market Report

What will be the estimated size of the Market in 2023?

At what rate will the global Resin Dryers sales grow until 2033?

Which are the factors hampering the Resin Dryers demand?

Which region will spearhead the growth in the global industry by 2033?

Which are the factors driving sales in the Resin Dryers Market during the forecast period?

Check out more related studies published by Fact.MR Research: Dryer Vents Market Size : The global dryer vents market size is estimated to be valued at ~US$ 360 million by the end of 2019. Adoption of online and offline laundry services has been observed to be gathering visible traction over the recent past, which is likely to remain key factor boosting the sales of dryer vents.

Laundry Dryer Sheets and Bars Market Share : North America is expected to dominate the global laundry dryer sheets and bars market share. It consists of a huge area that is developed and where people have a high standard of living. Thus, it makes the region stands out among all the other region.

Global Flash Dryers Market Revenue : The global flash dryers market revenue is estimated at USD 973 Million in 2022 and is forecast to surpass USD 1,369 Million by 2032, growing at a CAGR of 3.5% from 2022 to 2032. The global Flash Dryers market holds more than 0.2% market share in the global industrial dryers market. It is projected to rise with a CAGR of 4.6% by the end of 2032.

Hopper Dryers Market Growth : The technological developments and design advancements are offering remunerative opportunities for the market. On the other side, the high cost of hopper dryers is likely to limit of hopper dryers market growth.

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