According to the Market Statsville Group (MSG), the Global Printed-Circuit Heat Exchanger (PCHE) Market size is expected to grow at a CAGR of 5.1% from 2023 to 2033.

A printed circuit heat exchanger (PCHE) is a type of heat exchanger popular for its robustness, high NTU (Nephelometric Turbidity unit), and compactness. Diffusion bonding and chemical etching are essential fabrication procedures for printed circuit heat exchangers. A high-quality printed circuit heat exchanger combines superior integrity and robustness with a higher heat transfer rate. It is approximately 84% smaller but lighter than a comparable shell-and-tube exchanger. This ensures excellent performance due to their unique design.

Global Printed-Circuit Heat Exchanger (PCHE) Market Dynamics

The demand for petrochemical and oil has witnessed a high demand worldwide. While other fuels, like diesel, must be heated before being supplied to a diesel generator, petrochemical factories create volatile hydrocarbon samples with temperatures surpassing 260°C, necessitating cooling. The International Energy Agency (IEA) estimates that the petrochemical industry will add almost 7.1 million barrels per day by 2050, accounting for more than half of the expansion in global oil demand. This will boost the market all around the globe and create more opportunities in the future. Also, several Asian countries are channeling efforts to lay a solid base for the heat exchanger market and anticipate providing opportunities for the printed circuit heat exchanger in that market.

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Scope of the Global Printed-Circuit Heat Exchanger (PCHE) Market

The study categorizes the printed-circuit heat exchanger (PCHE) market based on material and application at the regional and global levels.

By Material Outlook (Sales, USD Million, 2019-2033)

  • Stainless Steel
  • Aluminum
  • Nickel
  • Others

By Application Outlook (Sales, USD Million, 2019-2033)

  • Hydrocarbon Processing
  • Petrochemical
  • Refining Industries
  • Others

By Region Outlook (Sales, USD Million, 2019-2033)

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • UK
    • Spain
    • Poland
    • Russia
    • The Netherlands
    • Norway
    • Czech Republic
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
    • Singapore
    • Australia & New Zealand
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Colombia
    • Rest of South America
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Northern Africa
    • Rest of MEA

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Stainless-steel segment is projected to account for the largest market share, by type

The stainless steel segment is expected to account for the largest market share in the global printed heat exchangers market. By adding about 7 million oil barrels per day, the petrochemical sector is expected to contribute nearly half of the rise in global oil demand by 2050 and more than a third of the growth by 2030, according to the International Energy Agency (IEA). As a result of the rising demand for petrochemicals, numerous international and domestic oil and gas corporations are investing heavily in setting up new production lines. This situation is expected to open up many opportunities for printed circuit heat exchangers (PCHE) in the global petrochemical industry.

Asia Pacific accounts for the highest CAGR during the forecast period

Asia-Pacific is projected to experience the highest CAGR in the printed circuit heat exchangers market due to the industrialization of nations like China and India. In order to provide a strong foundation for the heat exchanger industry and to open up chances for the printed circuit heat exchanger market, several Asian nations are concentrating their efforts in this direction (PCHEs).

Due to the increased demand from important application industries, including chemical, petrochemical, and oil and gas, North America is predicted to have dynamic expansion in the printed circuit heat exchangers market. The Gulf of Mexico, an oceanic basin in North America, and important oil and gas companies are also located in the area. The emphasis on boosting domestic gas production is expected to cause MEA to see a significant growth rate in the printed circuit heat exchanger industry. Additionally, a number of significant gas producers in the Middle East are concentrating on switching from BAHEs to PCHEs. During the projected period, such circumstances are anticipated to accelerate the growth of the printed circuit heat exchanger market.

Competitive Landscape - Global Printed-Circuit Heat Exchanger (PCHE) Market

Major players in the global printed-circuit heat exchanger (PCHE) market are:

  • Alfa Laval
  • Heatric
  • HEXCES
  • TANKTECH
  • DongHwa Entec
  • Shaanxi Zhituo Solid-State Additive Manufacturing
  • Asvotec
  • Vacuum Process Engineering
  • VACCO Industries

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Recent Developments

  • In April 2021, Meggitt PLC secured a contract with ENPPI to deliver Printed Circuit Heat Exchangers (PCHEs) for the Western Desert Gas Complex (WDGC) expansion project in El-Amreya, Alexandria, Egypt. Meggitt’s Heatric organization will supply the multi-million-pound contract.
  • In January 2021, Alfa Laval acquired StormGeo. The acquisition of StormGeo will significantly increase Alfa Laval's arsenal of tools for its customers to meet the industry's decarbonization problem. Additionally, StormGeo is a perfect fit for Alfa Laval's desire to accelerate its digital transformation, and it will use its digital and customer experience to improve Alfa Laval's offerings and gain additional expertise in the digital sphere.

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