Strict regulations are forcing companies and large industries to make changes in their manufacturing and recycling processes that can have a significant impact on the environment and operating conditions.
Recycling solvents help not only the environment but also industries who can save considerably and avoid buying new solvents every time.
Manufacturers are investing in various product research and improvement activities in both China and South Korea. They are striving to achieve cost effectiveness in solvent recovery systems and reducing their environmental footprint.
These factors offer significant opportunities for solvent recovery system manufacturers in China and South Korea to expand their sales.
Major companies active in this domain are striving to launch advanced technology solutions and efficient services within the China and South Korea solvent recovery systems industry.
Solvent recovery systems use the process of distillation, which separates volatile and nonvolatile solutions in a solvent. The solution is then boiled and the vapors are condensed back into liquid in a separate tank, very similar to how a vapor degreaser works.
The various constituents of the solvent and contaminants each boil at different temperatures: typically oils and soils are much higher than solvents.
An example of this is paint thinner which is used to clean paint off paint guns and parts; the solvent boils at a much lower temperature than paint, so boiling the mix will result in condensed pure solvent in one tank and paint sludge components in another tank.
Fractional distillation is used when there is need to separate volatile components with higher purity recovery, such as water and isopropyl alcohol. It is similar to a refined version of regular distillation.
| Attribute | Detail |
|---|---|
| Drivers |
|
Recycling solvents provides numerous financial advantages. Solvent recycling can decrease the amount of trash created in addition to allowing for the reuse of some solvents for a range of uses. As recycling techniques for solvents continue to evolve, more businesses are beginning to rely on solvents to increase their overall industrial efficiency.
The bigger benefits of solvent recycling center on a more waste-free, resource-distribution-optimized circular economy. The goal of this shift to a circular economy is to significantly cut greenhouse gas emissions, including carbon dioxide, while simultaneously protecting natural resources.
The benefits of solvent recycling in general cannot be overstated. This process saves money, time, and resources while reducing emissions and the cost of new solvents. Innovative approaches to solvent recycling are making this process even more effective, efficient, and clean.
Companies with CSR or ESG reporting requirements may benefit from the quantifiable carbon savings achieved via solvent recycling. All these benefits are expected to bolster the China and South Korea solvent recovery systems market growth.
Several solvents are being considered as hazardous wastes when they are spent, or can no longer be used. Additionally, many industrial chemical products are solvents and are treated as hazardous waste if they are disposed after being used.
Solvent end-users are responsible for identifying whether their used solvents are hazardous waste and subject to RCRA (Resource Conservation and Recovery Act) hazardous waste rules. In the event that the solvents are hazardous waste, they must be handled carefully and disposed of (or recycled).
Therefore, solvent end-users are widely adopting solvent recycling and recovering methodologies. This initiative also aids in minimizing pollution, reducing cost of fresh solvents, and also saves money, time, and resources of the manufacturer.
Several manufacturers of paint & coatings have concentrated their efforts on enhancing the sustainability of their production operations due to the issues related with the disposal of paint wastewater and solvent use.
Liquid product recovery (‘pigging’) technology is being increasingly utilized by paint and coatings businesses to reduce water consumption and solvent usage. Pigging systems use a specialized projectile, or ‘pig,’ to retrieve leftover liquid product from process pipes.
A shorter burst of water or solvent is sent between the pigs instead of a long, continuous line flush. The twin-pig method gives dual cleaning capability while maximizing the amount of solvent needed to achieve pipe cleanliness by employing two independent pigs.
Furthermore, it eliminates the need to flush the product residue out of the pipeline and clean the pipe after each transfer with a lot of water.
Thus, the wide range of observable advantages, substantial cost savings, and a high rate of return on investment (ROI) are key factors augmenting the China and South Korea solvent recovery systems market revenue.
The China and South Korea solvent recovery systems market segmentation based on end-use includes paints & coatings, chemical, printing, pharmaceutical, cosmetics, agrochemicals, electronics, and others.
Systems designed for paintings & coatings observe higher shares in both the regions as China is a manufacturing hub of specialty paints and chemicals products. Solvent recovery systems contribute to cost savings for manufacturers through the reuse of valuable solvent materials in the paint industry.
Potential end-users include multinational corporates such as Dulux by AkzoNobel, Nippon, Huarun, and Carpoly Co., Ltd. These companies produce large amount of paints and alongside also produce large amount of solvents which need to be refined and reused for better economic footprint, economic governance, and for better cost effectiveness.
These factors drive the usage of solvent recovery machines in these end-use industries, offering lucrative China and South Korea solvent recovery systems market opportunities.
| Attribute | Detail |
|---|---|
| Leading Country | China |
As per the latest China and South Korea solvent recovery systems market forecast, China is the leading country accounting for 77.8% of the demand followed by South Korea, which constitutes 22.2% of the market. These statistics indicate the substantial usage of solvent recovery systems in these two regions.
Expansion of major manufacturing industries over the last two decades including chemical processing, specialty chemicals, and paints & coatings industry are driving market dynamics in China.
Large companies such as Veolia and Sulzer Ltd. have considerable presence across China and South Korea. These companies constitute around 15% to 25% of the China and South Korea solvent recovery systems market share.
Tier 2 companies include WIGGENS CO., LTD., Sailing International Industry Group Limited, Hebei Shipu Machinery Technology Co., Ltd., and HongYi Environmental Equipment. These companies accounted for around 45% to 50% share of the solvent recovery systems market in 2023.
According to the China and South Korea solvent recovery systems market report, fragmentation is still high despite the presence of key participants since many small-scale producers exist in these countries.
The landscape encourages competition, resulting from product innovation, strategic partnerships, as well as mergers and acquisitions that drive the industry. Therefore, companies in the sector in China and South Korea always try to improve their products while increasing their market share to remain competitive.
Key players have been profiled in the China and South Korea solvent recovery systems market research report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
| Attribute | Detail |
|---|---|
| Market Size Value in 2023 | US$ 344.4 Mn |
| Market Forecast Value in 2034 | US$ 591.2 Mn |
| Growth Rate (CAGR) | 5.1% |
| Forecast Period | 2024-2034 |
| Historical Data Available for | 2020-2023 |
| Quantitative Units | US$ Mn for Value & Units for Volume |
| Market Analysis | It includes cross-segment analysis at the regional as well as country level. Furthermore, the qualitative analysis includes drivers, restraints, market opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Market Segmentation |
|
| Countries Covered |
|
| Companies Profiled |
|
| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 344.4 Mn in 2023
It is expected to grow at a CAGR of 5.1% from 2024 to 2034
Reduced operating cost, better distribution of resources, minimum waste products, and increase in demand for solvent recovery systems from paints & coatings industry
Based on end-use, paints & coatings was the largest segment in 2023
China was the most lucrative country in 2023
Veolia Group, Sulzer Ltd., WIGGENS CO., LTD., Seibu Giken Co., Ltd., TECHWIN, Chungjin Tech Co., Ltd., Sailing International Industry Group Ltd., Zhejiang Zhongbo Machinery Technology Co., Ltd., Hebei Shipu Machinery Technology Co., Ltd., and HongYi Environmental Equipment
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Key Facts and Figures
1.4. Trends Impacting Market
1.5. TMR’s Growth Opportunity Wheel
2. Market Overview
2.1. Market Segmentation
2.2. Key Developments
2.3. Market Definitions
2.4. Key Market Trends
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunities
2.6. China and South Korea Solvent Recovery Systems Market Analysis and Forecasts, 2023-2034
2.6.1. China and South Korea Solvent Recovery Systems Market Volume (Units)
2.6.2. China and South Korea Solvent Recovery Systems Market Revenue (US$ Mn)
2.7. Porter’s Five Forces Analysis
2.8. Regulatory Landscape
2.9. Value Chain Analysis
2.9.1. List of Manufacturers
2.9.2. List of Dealer/Distributors
2.9.3. List of Potential Customers
2.10. Product Specification Analysis
2.11. Production Overview
2.12. Cost Structure Analysis
3. COVID-19 Impact Analysis
3.1. Impact on Supply Chain of Solvent Recovery Systems
3.2. Impact on Demand for Solvent Recovery Systems
4. Impact of Current Geopolitical Scenario on Market
5. Production Output Analysis (Units)
5.1. China
5.2. South Korea
6. Price Trend Analysis and Forecast (US$/Ton), 2023-2034
6.1. Price Comparison Analysis by Technology
6.2. Price Comparison Analysis by Region
7. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, by Technology, 2023-2034
7.1. Introduction and Definitions
7.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Technology, 2023-2034
7.2.1. Direct Condensation
7.2.2. Distillation
7.2.3. Liquid-liquid extraction
7.2.4. Absorption
7.2.5. Film Evaporation
7.2.6. Crystallization
7.2.7. Membrane Separation
7.2.8. Others
7.3. China and South Korea Solvent Recovery Systems Market Attractiveness, by Technology
8. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, by Type, 2023-2034
8.1. Introduction and Definitions
8.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Type, 2023-2034
8.2.1. On-Site
8.2.2. Off-Site
8.3. China and South Korea Solvent Recovery Systems Market Attractiveness, by Type
9. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, Solvent Type, 2023-2034
9.1. Introduction and Definitions
9.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Solvent Type, 2023-2034
9.2.1. Aqueous Non-azeotropic Solutions
9.2.2. Heterogeneous Azeotropic Solutions
9.2.3. Homogeneous Azeotropic Solutions
9.2.4. Non-azeotropic Solutions
9.2.5. Aqueous Homogeneous Azeotropic Solutions
9.3. China and South Korea Solvent Recovery Systems Market Attractiveness, by Solvent Type
10. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, End-use, 2023-2034
10.1. Introduction and Definitions
10.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by End-use, 2023-2034
10.2.1. Paints & Coatings
10.2.2. Chemical
10.2.3. Printing
10.2.4. Pharmaceutical
10.2.5. Cosmetics
10.2.6. Agrochemicals
10.2.7. Electronics
10.2.8. Others
10.3. China and South Korea Solvent Recovery Systems Market Attractiveness, by End-use
11. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, by Country, 2023-2034
11.1. Key Findings
11.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Region, 2023-2034
11.2.1. China
11.2.2. South Korea
11.3. China and South Korea Solvent Recovery Systems Market Attractiveness, by Region
12. China and South Korea Solvent Recovery Systems Market Analysis and Forecast, 2023-2034
12.1. Key Findings
12.2. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Technology, 2023-2034
12.3. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Type, 2023-2034
12.4. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Solvent Type, 2023-2034
12.5. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by End-use, 2023-2034
12.6. China and South Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Country, 2023-2034
12.7. China and South Korea Solvent Recovery Systems Market Attractiveness Analysis
13. South Korea Korea Solvent Recovery Systems Market Analysis and Forecast, 2023-2034
13.1. Key Findings
13.2. South Korea Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Technology, 2023-2034
13.3. South Korea Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Type, 2023-2034
13.4. South Korea Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Solvent Type, 2023-2034
13.5. South Korea Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by End-use, 2023-2034
13.6. South Korea Korea Solvent Recovery Systems Market Volume (Units) and Value (US$ Mn) Forecast, by Country and Sub-region, 2023-2034
13.7. South Korea Korea Solvent Recovery Systems Market Attractiveness Analysis
14. Competition Landscape
14.1. Market Players - Competition Matrix (by Tier and Size of Companies)
14.2. Market Share Analysis, 2021
14.3. Market Footprint Analysis
14.3.1. By Technology
14.3.2. By End-use
14.4. Company Profiles
14.4.1. Veolia Group
14.4.1.1. Company Revenue
14.4.1.2. Business Overview
14.4.1.3. Product Segments
14.4.1.4. Geographic Footprint
14.4.1.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.1.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.2. Sulzer Ltd.
14.4.2.1. Company Revenue
14.4.2.2. Business Overview
14.4.2.3. Product Segments
14.4.2.4. Geographic Footprint
14.4.2.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.2.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.3. WIGGENS CO., LTD.
14.4.3.1. Company Revenue
14.4.3.2. Business Overview
14.4.3.3. Product Segments
14.4.3.4. Geographic Footprint
14.4.3.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.3.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.4. Seibu Giken Co., Ltd.
14.4.4.1. Company Revenue
14.4.4.2. Business Overview
14.4.4.3. Product Segments
14.4.4.4. Geographic Footprint
14.4.4.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.4.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.5. TECHWIN
14.4.5.1. Company Revenue
14.4.5.2. Business Overview
14.4.5.3. Product Segments
14.4.5.4. Geographic Footprint
14.4.5.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.5.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.6. Chungjin Tech Co., Ltd.
14.4.6.1. Company Revenue
14.4.6.2. Business Overview
14.4.6.3. Product Segments
14.4.6.4. Geographic Footprint
14.4.6.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.6.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.7. Sailing International Industry Group Ltd.
14.4.7.1. Company Revenue
14.4.7.2. Business Overview
14.4.7.3. Product Segments
14.4.7.4. Geographic Footprint
14.4.7.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.7.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.8. Zhejiang Zhongbo Machinery Technology Co., Ltd.
14.4.8.1. Company Revenue
14.4.8.2. Business Overview
14.4.8.3. Product Segments
14.4.8.4. Geographic Footprint
14.4.8.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.8.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.9. Hebei Shipu Machinery Technology Co., Ltd.
14.4.9.1. Company Revenue
14.4.9.2. Business Overview
14.4.9.3. Product Segments
14.4.9.4. Geographic Footprint
14.4.9.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.9.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.10. HongYi Environmental Equipment
14.4.10.1. Company Revenue
14.4.10.2. Business Overview
14.4.10.3. Product Segments
14.4.10.4. Geographic Footprint
14.4.10.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.10.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
14.4.11. Other Companies
14.4.11.1. Company Revenue
14.4.11.2. Business Overview
14.4.11.3. Product Segments
14.4.11.4. Geographic Footprint
14.4.11.5. Production Type/Plant Details, etc. (*As Applicable)
14.4.11.6. Strategic Partnership, Type Expansion, New Product Innovation etc.
15. Primary Research: Key Insights
16. Appendix
List of Tables
Table 01: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Technology, 2023-2034
Table 02: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Technology, 2023-2034
Table 03: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Type, 2023-2034
Table 04: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Type, 2023-2034
Table 05: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Solvent Type, 2023-2034
Table 06: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Solvent Type, 2023-2034
Table 07: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by End-use, 2023-2034
Table 08: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by End-use, 2023-2034
Table 09: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Region, 2023-2034
Table 10: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Region, 2023-2034
Table 11: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Technology, 2023-2034
Table 12: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Technology, 2023-2034
Table 13: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Type, 2023-2034
Table 14: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Type, 2023-2034
Table 15: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Solvent Type, 2023-2034
Table 16: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Solvent Type, 2023-2034
Table 17: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by End-use, 2023-2034
Table 18: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by End-use, 2023-2034
Table 19: China and South Korea Solvent Recovery Systems Market Volume (Units) Forecast, by Country, 2023-2034
Table 20: China and South Korea Solvent Recovery Systems Market Value (US$ Mn) Forecast, by Country, 2023-2034
List of Figures
Figure 01: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Technology, 2021, 2027, and 2034
Figure 02: China and South Korea Solvent Recovery Systems Market Attractiveness, by Technology
Figure 03: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Type, 2021, 2027, and 2034
Figure 04: China and South Korea Solvent Recovery Systems Market Attractiveness, by Type
Figure 05: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Solvent Type, 2021, 2027, and 2034
Figure 06: China and South Korea Solvent Recovery Systems Market Attractiveness, by Solvent Type
Figure 07: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by End-use, 2021, 2027, and 2034
Figure 08: China and South Korea Solvent Recovery Systems Market Attractiveness, by End-use
Figure 09: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Region, 2021, 2027, and 2034
Figure 10: China and South Korea Solvent Recovery Systems Market Attractiveness, by Region
Figure 11: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Technology, 2021, 2027, and 2034
Figure 12: China and South Korea Solvent Recovery Systems Market Attractiveness, by Technology
Figure 13: China and South Korea Solvent Recovery Systems Market Attractiveness, by Technology
Figure 14: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Type, 2021, 2027, and 2034
Figure 15: China and South Korea Solvent Recovery Systems Market Attractiveness, by Type
Figure 16: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by Solvent Type, 2021, 2027, and 2034
Figure 17: China and South Korea Solvent Recovery Systems Market Attractiveness, by Solvent Type
Figure 18: China and South Korea Solvent Recovery Systems Market Volume Share Analysis, by End-use, 2021, 2027, and 2034
Figure 19: China and South Korea Solvent Recovery Systems Market Attractiveness, by End-use
Figure 20: China and South Korea Solvent Recovery Systems Market Attractiveness, by Country and Sub-region
Figure 21: South Korea Korea Solvent Recovery Systems Market Volume Share Analysis, by Technology, 2021, 2027, and 2034
Figure 22: South Korea Korea Solvent Recovery Systems Market Attractiveness, by Technology
Figure 23: South Korea Korea Solvent Recovery Systems Market Volume Share Analysis, by Type, 2021, 2027, and 2034
Figure 24: South Korea Korea Solvent Recovery Systems Market Attractiveness, by Type
Figure 25: South Korea Korea Solvent Recovery Systems Market Volume Share Analysis, by Solvent Type, 2021, 2027, and 2034
Figure 26: South Korea Korea Solvent Recovery Systems Market Attractiveness, by Solvent Type
Figure 27: South Korea Korea Solvent Recovery Systems Market Volume Share Analysis, by End-use, 2021, 2027, and 2034
Figure 28: South Korea Korea Solvent Recovery Systems Market Attractiveness, by End-use
Figure 29: South Korea Korea Solvent Recovery Systems Market Volume Share Analysis, by Country and Sub-region, 2021, 2027, and 2034
Figure 30: South Korea Korea Solvent Recovery Systems Market Attractiveness, by Country and Sub-region
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
China and South Korea Solvent Recovery Systems Market
