Odor Control Systems Market size is set to grow with a CAGR of 3.6% throughout the forecast period to reach US$ 4,070.5 Mn by 2026: Credence Research

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The global odor control systems market is set to grow with a CAGR of 3.6% throughout the forecast period to reach US$ 4,070.5 Mn by 2026.

According to a new market research report published by Credence Research “Odor Control Systems Market (Systems Type – Chemical Odor Control Systems, Activated Carbon Odor Control Systems, Biological Odor Control Systems and Others; End-user – Chemical Industry, Oil Refineries & Petrochemical Industry, Waste Treatment Facilities, Food & Beverages, Pulp & Paper Industry, Manufacturing and Others) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global odor control systems market is set to grow with a CAGR of 3.6% throughout the forecast period to reach US$ 4,070.5 Mn by 2026.

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Market Insights

Overall odor control systems market set to encounter the growth of 3.6% across the forecast period from 2018 to 2026, principally due to increasing attention to the environment and the growing effect of air quality on human health. Odors are generated amid various courses of industrial sector, such as oil refining or synthesis of chemical compounds, treatment on materials, processing or storage of agricultural products and others. Similarly, in number of industrial plants, odors are generated by microbial decomposition of organic compounds, such as hydrogen sulfide, mercaptans and nitrogen compounds in the form of ammonia and amines which cause for malodor across plant environment. Until few years ago, presence of odors around industrial plants was considered as inevitable, however with evolution of systems controlling or disposing industrial odors recently safeguarded the environment around these plants.

Odor control systems market segmented based on system type and end-user. By system type, overall market was led by activated carbon odor control systems in 2017, accounting over 1/3rd of the total market value. These are the simplest odor control systems to operate and maintain. Asia Pacific was the largest market for odor control systems in 2017. Region represented close to 1/2 of the overall market value generated around the world. Further, Asia Pacific also set to exhibit the highest growth throughout the forecast period, chiefly due to developing chemical, food & beverages, petrochemical and other industries across the region.

The odor control systems market momentum further stimulated by rising regulations imposed by governing bodies on emission of unfiltered gasses, considering its perilous properties. In China, “environmental ­clean-up program” launched in 2016 has led to closure of several factories. Since the launch of program, 2,900 organizations have been fined along with 18,000 individuals. With growing population, industrialization and urbanization, odor problems have reached at intolerable proportion. Urbanization without proper sanitation facilities is a major cause of odor problems. Rapidly growing industrialization has aggravated the problem through odorous industrial operations. Odor control systems assisted industrial sector to regulate the emission of malodor content by processing on odorous contents.

Industrial sectors such as chemical industry, oil refineries & petrochemical industries, waste treatment facilities, food & beverages, pulp & paper and manufacturing industries are among major contributors to malodor formation. Chemical industry accounted for more than 1/4th of the overall odor control systems market across the globe. Due to factors such as increasing industrial pollution and regulatory policies by governing bodies, adoption for odor controlling systems expected to continue rising, thereby driving the market growth.

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