Growing market for chemical waste heat recovery systems driven by environmental regulations and energy efficiency

From GlobeNewswire: 2024-11-27 07:00:00

The chemical waste heat recovery system market is set to hit USD 18.6 billion by 2032 due to environmental regulations and energy cost concerns. Waste heat systems offer energy efficiency benefits, reducing emissions and operational costs for chemical manufacturers. The rising global energy demand is driving the need for cost-effective solutions in sectors like chemicals, making waste heat recovery systems increasingly popular.

The electricity and steam generation segment in the chemical waste heat recovery system market is projected to surpass USD 10 billion by 2032. These systems convert waste heat into usable energy, reducing reliance on traditional energy sources and cutting costs. High-temperature waste heat recovery systems operating above 650 °C are expected to grow at a 6.5% CAGR through 2032, offering significant revenue opportunities for chemical plants.

In the U.S., the chemical waste heat recovery system market is expected to exceed USD 7 billion by 2032. Government incentives and initiatives are driving the adoption of energy-efficient technologies like waste heat recovery systems. Programs aimed at reducing industrial carbon footprints and enhancing energy security are further boosting demand for these systems in the chemical sector.

Overall, the market for chemical waste heat recovery systems is poised for significant growth as companies prioritize sustainability and cost efficiency. With the increasing global demand for energy and the need for environmentally friendly solutions, waste heat recovery systems offer a dual advantage of reducing emissions and enhancing energy utilization, making them a valuable investment for industries looking to comply with regulations and cut operational costs.



Read more at GlobeNewswire: Chemical Waste Heat Recovery System Market to hit $18.6 Bn