The global vacuum ovens market was worth US$ 178.7 Million in 2018. A vacuum oven is an extremely versatile equipment that has applications in laboratory research, engineering, and industry. In vacuum ovens, the process of heat treatment takes place inside an airtight vessel. This enables a vacuum to be drawn inside the vessel. The entire heat-treating procedure can be initiated under vacuum or precisely controlled environments can be introduced. Heat treating under vacuum can provide numerous advantages such as:
The rise of the vacuum oven market largely relies on the legalised use of cannabis in considerable parts of the world and the commercialisation that materializes with it. For the legalised cannabis growers, vacuum ovens help them to process cannabis extract BHOs (Butane Hash oil). Through these vacuums, the growers get purified oil extract, along with a reduced risk of fire while performing the entire process. The vacuum ovens are also used in the medical industry to remove chemicals that are possibly toxic to the human body. This process is essentially compelling for embedded medical devices like artificial heart valves, pacemakers and even joints. In addition to this, these ovens are also used in order to comprehend how a device will react to the high vacuum environment of space, which makes them a viable equipment for the aerospace industry. Looking forward, the market value is projected to reach US$ 271.1 Million by 2024, expanding at a CAGR of 7.2% during 2018-2023.
This report provides a deep insight into the global vacuum ovens market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the vacuum ovens market in any manner.
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