According to a new research report by Global Market Insights, the vacuum pump market will hit $6.5bn by 2025.
Chemical manufacturing and processing industry growth is a major influencing factor for the vacuum pump sales. The global chemical market will reach close to $5.5 trillion in 2025, with a bulk share accounted by China-dominated Asia Pacific region.
China accounted for close to a quarter of the global chemical consumption and will continue to hold sway over the forecast period with the presence of several small and medium scale enterprises catering to the local demand.
Industrially emerging nations such as India, Indonesia, Thailand, etc. also offer a promising future to the chemical industry growth. Requirement of clean and dry reaction chambers for critical applications will boost the regional vacuum pump market demand throughout the forecast years.
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