Odor Control System Market Size Boom: 7.3% CAGR Forecast for the Coming Period
An odor refers to a smell caused by low concentrated volatilized compounds that can be sensed by humans and animals. It can be either pleasant or unpleasant odor. The breakdown process of any organic substance usually releases heat, water vapor, and carbon dioxide, which can be unbalanced and produce an objectionable odor. Therefore, to get rid of such smell—primarily at industrial plants—odor control systems that use an odor control agent to control objectionable odor generated from various industrial waste are installed. It is used in industries for air purification, source treatment, and odor neutralization.
These odor control systems physically, biologically, or chemically suppress the unpleasant odor emitted from treatment plants and are required in places where chemicals like ammonia compounds, sulfur compounds, and others are present. In addition to this, it helps remove the odor produced during operations in the plants, which may affect the environment, workers, and image of the company. The residents, commuters, business owners who stay near these facilities also face the odor challenge. Furthermore, certain odors may even damage industrial equipment due to being corrosive.
Therefore, to reduce the bad odor and increase the safety of industrial plants, workers, and the environment, the demand for odor control systems has been increasing for the past few years, which is anticipated to drive the market globally. However, the high cost of odor control systems and high operating costs are expected to act as restraints and hinder the market growth.
The increasing awareness regarding the environment and the effect of air quality on human health will augment the growth of the odor control system market during the forecast period. Since waste generation from manufacturing industries is one of the major concerns affecting air, land, water, and scenic quality, countries globally are now focusing on crafting environmental regimes to create a proper balance between industrial growth and environmental impact.
The increasing number of deaths and human health issues due to air pollution caused by emissions from the industries has led to the implementation of various stringent regulations by the governments. However, it is positively impacting the growth of the global odor control system market as these regulations have made it mandatory to install air quality control systems to existing and new potential emitters.
The manufacturers of the odor control system market aim to cater strong customer base from various end-uses and focusing on offering specialized systems to cater to dynamic customer requirements. Considering factors such as the reduction in the capital investment for the odor-controlling process, acting as a key element for end-users as the process has minimal effect on overall productivity has led the manufacturers to concentrate on constant product development to offer an economic solution by ensuring advanced functionality.
For instance, Evoqua Water Technologies LLC offered an odor control system with 99% Hydrogen Sulphide removal capacity in 2018.
The high cost of the odor systems, with high operating costs associated with them, are expected to hinder the growth of the global odor control system market. As the cost of these systems is high, it becomes difficult for many companies to install the system and comply with the regulations and policies imposed by the government, which is restraining the demand for these systems.
Study Period | 2020-2032 | CAGR | 7.3% |
Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
Base Year | 2023 | Base Year Market Size | USD XX Billion |
Forecast Year | 2032 | Forecast Year Market Size | USD XX Billion |
Largest Market | Asia-Pacific | Fastest Growing Market | Europe |
Asia-Pacific is expected to hold the maximum share in the global odor control system market during the forecast period. The growth can be attributed to the increasing industrialization in countries like India and China. The industrialization has led to a boost in the growth of end-use industries, such as food and beverages, manufacturing, construction, automotive, etc., which is responsible for the growing demand for various consumer goods and products.
These products manufactured in industrial plants cause pollution and odors at these plant sites and increase the emission of toxic pollutants and exhaust gases. Therefore, industrialization is the major factor responsible for driving the growth of this market. Apart from this, growing population and urbanization due to a change in the lifestyle of the individuals also play an important role in the demand for odor control systems as it has led to an increase in the production activities at the plants.
In addition to this, a shift in the focus of manufacturers towards this region will also positively impact the growth of the market as more manufacturers will lead to more manufacturing activities, which will further increase the demand for the market. Furthermore, various government initiatives and regulations for effective odor management are expected to augment the growth of the market in the Asia-Pacific region.
Moreover, the ongoing advancements in technology and progression in investment for the stormwater management projects and wastewater treatment facilities are forecasted to grow and create a surge in demand for odor control systems. The manufacturers involved in this market are focusing on improving their market structures and offerings in the region due to the robust growth of the economies present in Asia-Pacific. The adoption of the best available technique and large installations of odor control systems in countries like Japan and China are projected to surge in the next few years, which will propel the market growth.
Europe is anticipated to be the second-largest regional market in the global odor control system market owing to the growth of the energy and power sector, and chemical sector, which are responsible for contributing to the gas pollutants in the environment. The sources of odor generation occur due to the burning of fossil fuels in electricity generation, industrial processes, and solvent use, and waste treatment, which are rapidly increasing in the region due to the growing end-use industries.
In addition to this, the growing infrastructural development, and food and beverage sector, which leads to major gas pollutants coupled with compliance of the stringent regulations imposed by the government for controlling odor emissions through industrial and municipal sectors are enhancing the growth of the market in the region.
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The global odor control system market is fragmented in nature and characterized by a high degree of competition among key operating players. The players involved in this market are focusing on enhancing their market presence by adopting various strategies such as mergers, acquisitions, agreements, partnerships, expansions, joint ventures, research and development, collaborations, etc. In addition to this, the major players in the market are focusing on providing low-cost and low-maintenance products to hold a significant share in the market.
For instance, Evoqua Water Technologies LLC announced securing a contract for an odor control project from a wastewater treatment plant (WWTP) in Western Canada in 2018.