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Advanced Materials For Water Treatment Market - Forecast(2023 - 2028)
Advanced Materials For Water Treatment Market Overview
The Advanced Materials For Water Treatment
market size are estimated to grow at a CAGR of 7.2% during the forecast period
2022-2027. Advanced Materials for Wastewater Treatment brings together
innovative approaches such as photocatalysis, membrane filtration, ion exchange
and nanomaterials and research initiatives for removing harmful effluents from
wastewaters. Increased demand for clean and dwindling freshwater supplies from
various end-use industries such as food and beverages, pharmaceuticals and
others, are driving market expansion for advanced materials For water
treatment. Furthermore, the growing demand for energy-efficient and innovative
water treatment technologies is likely to generate considerable growth
opportunities for advanced materials for the water treatment industry in the coming
years.
The covid-19 pandemic majorly impacted the advanced materials for the water
treatment market due to restricted production, supply chain disruption,
logistics restrictions and a fall in demand. However, with robust growth and
flourishing applications across major industries such as food & beverages,
pharmaceutical and others, the advanced materials for the water treatment industry
are anticipated to grow rapidly during the forecast period.
Advanced Materials For Water Treatment Market Report Coverage
The “Advanced Materials For
Water Treatment Market Report - Forecast (2022-2027)" by Industry ARC,
covers an in-depth analysis of the following segments in the Advanced Materials For Water Treatment Industry.
Key Takeaways
- Asia-Pacific dominates the Advanced Materials For Water Treatment market size, owing to numerous factors including rising water quality requirements, rapid economic growth, environmental concerns, demand from various end-use industries and infrastructure development of water treatment facilities in the region.
- Stringent government laws governing industrial and municipal wastewater disposal are driving the expansion of advanced materials such as porous materials, polymer membranes, photocatalysts, and nanomaterials for water treatment application.
- Increasing demand for water treatment in the food and beverage industry to remove bacteria, brine and other contaminants, is a major factor driving the advanced materials For water treatment market size.
Advanced Material For Water
Treatment Market Segment Analysis – by Treatment
Membrane Filtration held a
significant share in the Advanced Materials For Water Treatment market in 2021
and is forecasted to grow at a CAGR of 7.4% during the forecast period
2022-2027, owing to the extensive characteristics provided by membrane filtration
when compared to other treatment types such as ion exchange, biological
degradation, advanced oxidation, nanotechnology, photocatalytic degradation and
Others. Membrane technology, which combines the functions of separation,
concentration, purification and refining, as well as the qualities of high
efficiency, energy savings and environmental protection, has been widely
employed in various end-use industries, which drives the demand for advanced
material for water treatment. Thus, owing to numerous advantages and
abundance over other treatments, the demand for membrane filtration is growing
for application in major industries, thereby boosting the growth opportunities
for advanced materials for water treatment market share in the
coming years.
Advanced Material for Water
Treatment Market Segment Analysis – by End-Use
Industry
The Industrial held a significant
share in the Advanced Materials For Water Treatment market in 2021 and is
forecasted to grow at a CAGR of 7.8% during the forecast period 2022-2027,
owing to the increase in the number of industries that use a large
quantity of water in manufacturing processes results in the
requirement for process water treatment. In addition, Numerous end-use
industries generate considerable amounts of wastewater, which supports the
market expansion of advanced materials for water treatment in various end-use
industries. For instance, advanced materials for water treatment have been
widely employed in the food industry's production. Dairy products, soy products,
fruit and vegetable juices, the brewing industry, the sugar industry and other
applications that require purified water are driving the market expansion of
advanced materials for water treatment. According to the UK parliament,
Industrial production climbed by 1.9 percent in the three months to March
2022, compared to the same time the previous year. According
to India Brand Equity Foundation, In CY20, health-focused foods and beverages
accounted for 11% of India's $88 billion packaged foods and beverages market.
This amount is expected to climb to 16%, or $30 billion, by CY26. With the rise in the Industrial industry
across the globe, the demand for advanced materials for water treatment is anticipated to rise, which is
projected to boost the market growth in the advanced material for the water
treatment
industry during the forecast period.
Advanced Material For Water
Treatment Market Segment Analysis – by Geography
The APAC held a significant share in the Advanced Materials For Water Treatment market in 2021 up to 41%. The fuelling demand and growth of advanced materials for water treatment in this region are influenced by flourishing demand from major industries such as food & beverages, pharmaceutical and others, along with fuelling manufacturing activities across APAC. The industrial sector is flourishing due to increasing industrial growth, high population and stringent environmental norms. According to India Brand Equity Foundation, by 2030, India can contribute more than US$500 billion yearly to the global economy and become a major center for manufacturing. According to the Australian Trade & Investment Commission, manufacturing industries account for over half of Australia's yearly manufacturing output of more than A$100 billion and are one of the fastest-growing export sectors. With the rise in the industrial sector across the globe, the demand for advanced materials for the water treatment market is anticipated to rise, which is projected to boost the advanced materials for water treatment market share during the forecast period.
Advanced Material for Water Treatment Market Drivers
Increasing Government Investments Towards Water Treatment Sectors:
The demand for Advanced
Materials For Water Treatment is rapidly growing as the demand for advanced
materials for water treatment is rapidly increasing as government investment in
water treatment increases. Therefore, the rising government investments to
improve water and wastewater treatment will drive the growth of advanced
materials for the water treatment industry. For instance, In July 2020, the United
States Department of Energy's (DOE) Office of Energy Efficiency and Renewable
Energy (EERE) announced a US$20 million investment opportunity to develop
technology innovations that strengthen America's water infrastructure and
enable advanced water resource recovery systems that could be net energy
positive. Furthermore, the US Department of Agriculture (USDA) stated on July
7, 2020, that it will invest US$ 307 million in 34 states and Puerto Rico to upgrade
rural drinking water and wastewater infrastructure. According to the Ministry
of External Affairs, India will invest $270 billion in water supply over the
next 15 years. As a result, increased government investments in Water Treatment
are expected to boost the advanced materials for water treatment market share throughout
the forecast period.
Increasing Demand for Oil and Gas Industry:
With the growing
demand in the operations of oil refineries, the oil and gas industry will
intensely seek chemicals for wastewater treatment. Desalination methods, steam
generators and cooling towers are in high demand in chemical plants and oil
refineries. The industrial, commercial and residential sectors' consistently
rising need for oil and gas supplies is a major factor in the advanced
materials for water treatment market's expansion. For instance, Nigeria
announced the beginning of the Dangote Refinery and Polypropylene Plant
project, which will cost US$11 billion and be completed by the end of 2021. The
plant is anticipated to process various crude grades, including shale oil and
have a production capacity of 12 300 b/d of fuel oil, 104,000 b/d of diesel and
153,000 b/d of gasoline, 4,109 b/d of LPG and 73,000 b/d of jet fuel. As a
result, the need for wastewater treatment to comply with current environmental
requirements will rise along with the demand for oil and gas production
activities in several nations throughout the world, fueling advanced materials
for water treatment market expansion in the coming years.
Advanced Material For Water Treatment Market Challenge
Presence of Alternative Water Treatment Technologies:
The alternative
water treatment technologies pose a major challenge in the Advanced Materials For Water Treatment market. The widespread aversion to water treatment
equipment and preference for physical water treatment methods such as UV
disinfection and RO filtration is a typical trend in the water treatment
industry, which hampering the market growth of advanced materials for the water
treatment market. The market for advanced materials for water treatment is
gradually shifting toward sustainable choices due to growing environmental
concerns and regulatory demands. The usage of chemicals in the processes used
to clean water is reduced due to modern technologies. Hence, the rising need
for eco-friendly formulations for water treatment will further affect the
market growth. Thus, owing to factors such as alternative water treatment
technologies, the advanced material for the water treatment market faces a major
challenge.
Advanced Material For Water Treatment Industry Outlook
Technology launches, acquisitions
and R&D activities are key strategies players adopt in the Advanced Materials For Water Treatment market. The top 10 companies in the Advanced Materials For Water
Treatment market are:
- BASF SE
- Ecolab Inc.
- Kemira OYJ
- Solenis LLC
- Akzo Nobel N.V.
- Baker Hughes Incorporated
- Lonza
- The DOW Chemical Company
- Snf Floerger
- Suez S.A
Recent Developments
- In July 2021, A. O. Smith Corporation announced the completion of its acquisition of Master Water Conditioning Corporation, a water treatment company. With this acquisition, the company hopes to expand its water treatment business throughout North America.
- In October 2020, Merck launched a new $14.4 million industrial water treatment plant in Jaffrey, New Hampshire. The improved system integrates cutting-edge technology and complies with municipal industrial water discharge regulations.
- In September 2020, Aquatella has introduced a four-stage countertop water filter that removes 99 percent of hazardous microorganisms, heavy metals, pesticides and chemicals from drinking water.
Relevant Reports
Report Code: AIR 0065
Report Code: CMR 1157
Report Code: AIR 0421
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