Applications Across Oil & Gas Value Chain Will Drive Growth of Printed Circuit Heat Exchangers Market

Thu, 10 October 2019 12:12

Printed circuit heat exchangers (PCHEs) are ideal for high-pressure and high-temperature applications. They are time-tested in high-pressure hydrocarbon processing, petrochemical, and refining industries. PCHEs minimize power consumption and are more cost-effective than conventional heat exchangers; thus, the energy optimization paradigm drives the growth of the printed circuit heat exchanger market. Growing investments in petrochemical and associated projects across several countries from Asia-Pacific, the Middle East, Western Europe, and North and South America to satisfy domestic demand and reduce dependence on imports are also bolstering the demand for PCHEs. According to Hydrocarbon Processing’s Construction Boxscore Database, more than 280 petrochemical projects were announced during 2016–2018.

Widespread Adoption of Nickel PCHEs in Chemical Processing, Offshore O&G, and Power Generation

Nickel has high-temperature metallurgical stability and exhibits good mechanical properties. The nickel segment is projected to register a significant growth rate in the printed circuit heat exchangers market, owing to the element’s ability to meet stringent emission regulations and withstand high service temperatures. Nickel heat exchangers are extensively used in the chemical processing industry, offshore oil and gas, and power generation.

Hydrocarbon Processing – The Most Prominent Application Segment for PCHEs

Hydrocarbon processing remains a key application area for PCHEs, on account of the growing investments in this space across Asia-Pacific, the Middle East, and the U.S. to increase oil and gas processing capacities. Other regions are also setting up distillation and secondary units for hydrocarbon processing, creating considerable opportunities for PCHE vendors in the hydrocarbon processing industry.

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Oil and Gas Activities to Foster Growth of North America’s PCHE Market

North America is expected to witness exponential growth in the printed circuit heat exchangers market on account of burgeoning oil and gas activities. The presence of highly industrialized nations such as Canada and the U.S. also bolsters market growth in the region.

Competitive Pressure Bolsters Demand for PCHEs in Europe

The stiff competition among refineries in Europe has created a scenario wherein refineries are adopting technologically-advanced equipment to gain a competitive edge. As a result, the adoption of PCHEs is relatively high in Europe, as compared to other refinery-rich regions. In other words, competitive pressure is widening opportunities for the regional PCHE market.

Established O&G Sector Drives PCHE Adoption in MEA

The Middle East and Africa region is characterized by an established oil and gas sector, where heat transfer units play a crucial role across the value chain. Additionally, increasing refining activities in the African market are also pegged to drive market growth in the future.

Recent Developments

  • In January 2018, Vacuum Process Engineering partnered with Sanida National Laboratories to enhance the mechanical lifetime of Compact Microchannel Heat Exchangers (MCHEs)
  • In October 2018, Heatric signed two substantial contracts with MODEC, a leading specialist of floating production systems for the offshore oil & gas industry, to deploy printed circuit heat exchangers at Sépia and Mero fields offshore Brazil
  • In 2016, Asvotec Termoindustrial started manufacturing 14 PCHEs for use in the pre-salt oil field of Petrobras and 20 PCHEs for Oil Platform – P73
  • In April 2015, Alfa Laval entered into a patent license agreement with Daewoo Shipbuilding & Marine Engineering (DSME) for utilizing DSME’s patents on high-pressure fuel gas supply systems; this agreement would enable Alfa Laval to develop Fuel Conditioning Modules for use with high pressure gas injection engine technology from MAN Diesel & Turbo

Key Players

Some of the prominent players in the global printed circuit heat exchangers market are Alfa Laval, Heatric (Meggitt PLC), HEXCES, TANKTECH CO LTD, Asvotec Termoindustrial, DongHwa Entec, and Vacuum Process Engineering (VPE).

Printed Circuit Heat Exchangers Market Segmentation

By Material

  • Stainless Steel
  • Aluminum
  • Nickel
  • Others

By Application

  • Hydrocarbon processing
  • Petrochemical
  • Refining industries
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico


  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe


  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific


  • Brazil
  • Argentina
  • Columbia
  • Rest of LATAM

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • UAE
  • Rest of Middle East


  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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