Plate Fin Heat Exchanger Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMEP2661 | Last Updated On: Jun 14 2022 | Available Formats

> Global Plate Fin Heat Exchanger Market Expected to reach a high CAGR during the forecast period 2022-2029: DataM Intelligence

Global Plate Fin Heat Exchanger Market is segmented By Flow Arrangement (Cross-Flow, Counter Flow, Cross Counterflow), By   Plate-Fin Geometry (Offset Strip Fins, Plain Fins, Wavy Fins), By End-user (Air separation plants, Petrochemical Industry, Air Conditioning industries), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029


Market Overview

The Global Plate Fin Heat Exchanger Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Plate-Fin Heat Exchangers are distinctive due to their superior construction and performance. Plate-fin heat exchangers consist of a stack of other flat plates (partition sheets) and corrugated fins brazed together. The Effectiveness of the Plate fin heat exchanger is high when compared to the additional heat exchangers as the ratio of surface area to volume is high. They have high flexibility, temperature control.
Global Plate-Fin Heat Exchanger Market-Market Dynamics 
The main driving factor for this market is the increase in the production of aircraft and automobiles. Plate-Fin Heat Exchangers are widely used in aircraft production as the weight-to-volume ratio is very low. These heat exchangers are used in the environment control system of aircraft, avionics cooling, hydraulic oil cooling, and fuel heating. Manufacturers are increasing the production of aircraft rapidly due to the increase in aircraft demand. It is expected that 38000 aircraft would be manufactured globally over the next 20 years. This increase in production will lead to the usage of the plate-fin heat exchangers.
Plate-Fin Heat Exchangers are used in the automotive industry because of their compactness. Example automobile radiators. The global passenger car sales had increased from 69,506,882 in 2016 to 70,849,456 in 2017. This increase will, in turn, lead to a rise in the production of a plate-fin heat exchanger. The cost of this plate-fin heat exchanger is higher than the other heat exchangers. So, the price is a restraint.

Segment Analysis 

By Flow Arrangement Plate-fin heat exchanger can be divided into three types. They are cross flow, counterflow, cross counterflow. Counter Flow arrangement has the highest heat recovery. Fluids flow parallel but in the opposite direction in counterflow. Thermodynamically this flow arrangement is superior to other flow arrangements. This Flow Arrangement is the most Efficient one. This flow is used in cryogenic refrigeration and liquefaction equipment. Cross counter flow has the least efficiency. In this flow, one stream flows in a straight path and flows in a zigzag pattern.
This flow is assumed to be globally counterflow but considered as crossflow. Cross counter flow is used in those applications similar to those of crossflow. This flow Arrangement is used primarily when the volumes flow rates of the two fluids are different. In crossflow fluids, flow directions are normal to each other. This arrangement is Straightforward and cheap. Cross Flow Arrangement is used in automobile radiators and some aircraft heat exchangers.
By Geometry this Plate-fin heat exchanger can be segregated into plain fins, wavy fins, offset strip fins. Plain fins consist of passages of triangular and rectangular cross-sections. Plain fins with the triangular arrangement are less expensive, weaker than rectangular fins. Wavy fins are similar to the plain fins but with cyclic lateral shifts perpendicular to flow direction. These wavy fins are used for streams at high pressure. These wavy fins are commonly used in the hydrocarbon industry. Offset Strip Fins are commonly used in fin geometry. 
By End-user, these plate-fin heat exchangers can be used in the air separation plants, petrochemical industries, and air conditioning industries. These heat exchangers are used in the field of cryogenics for the separation and liquefaction of air. The processed air is cooled down to liquefaction temperature. Countercurrent flow stream arrangement is used in it. Evaporation and warming of the oxygen and nitrogen product are done in a high-pressure plate-fin heat exchanger.

Geographical Analysis

By Geography, Global Plate-Fin Heat Exchanger Market is divided into North America, Asia-Pacific, Middle East. North America would have the highest Market share at the of the forecast period. Many aircraft manufacturing companies which are of top-notch are present in North America. Plate-fin Heat Exchangers are widely used in these aircraft. As mentioned in the market dynamics due to the increase in aircraft demand, the number of aircraft produced increases.
The Global increase in commercial aircraft passengers is also a cause for the rise in production. Lockheed Martin is one of the most significant aircraft manufacturing companies. There was an increase in the revenue of this company from $47.2 billion in 2016 to $51 billion in 2017. This growth in revenue shows proof of the rise in production. By this, we can expect that there might be significant growth in the Global Plate-Fin Heat Exchanger Market.
Middle East Countries would have the 2nd highest share at the end of the forecast period. Most of this share would be because of the natural gas refineries present in these countries. There are many of them in these countries because of an increase in the usage of natural gas. Plate-fin Heat exchangers are used in these refiners for natural gas processing and liquefaction. Linde Group has many refineries in the middle east. There was an increase in revenue from 5.736 billion euros in 2016 to 5.876 billion euros in 2017. 

Competitive Analysis

Many companies are trying to expand by mergers, acquisitions, and also by forming associations. These companies also improve their market by improving old products and also by launching new products. As this Plate-Fin Heat Exchanger is the most effective among others in many ways, companies are trying to overcome the disadvantages of this Heat Exchanger. 
First BAHX Fitted with smart layer technology created by CHART Industries. The Smart layer provides a  warning when the BAHX reaches the critical threshold. This improvisation would help the company from losing containment.  
A new Air separation unit has been started to supply 700 tones per day of gaseous nitrogen to support Samsung in tangjeong, South Korea.  Major companies which produce plate-fin heat exchangers are LINDE, FIVES CRYO, CHART INDUSTRIES, KOBE STEEL, SUMITOMO PRECISION PRODUCTS. Lytron, Kelvion, ABLEtech engineering, Sichuan air separation group, United cooling systems.

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