Water Treatment Technology Market size is forecast to reach $40 billion by 2025, after growing at a CAGR of 10.4% during 2020-2025. With rise in the consumption of Ultra-Low-Sulfur Diesel (ULSD), the Water Treatment Technology market is witnessing an increase in demand, as ULSD requires a higher concentration of additives. Growing public interest towards sustainable and environment-friendly products will further enhance the overall market demand for Water Treatment Technology during the forecast period.
Asia-Pacific dominates the Water Treatment Technology market owing to the increasing demand of more & more water purifiers.
Water treatment technology deals with the removal of impurities present in water during its use or storage and convert it into usable form, which is likely to aid in the market growth of Water Treatment.
Stringent government regulations over industrial and municipal waste water disposal drive growth of water treatment technology market in the recycle and reuse procedures will increase the market demand for Water Treatment Technology in the near future.
Impact of Covid19, will create hurdles for the Water Treatment Technology market
Technology – Segment Analysis
Membrane Filtration holds the largest market share in the Water Treatment Technology Market. Membrane filtration process is a physical separation method characterized by the ability to separate molecules of different sizes and characteristics. Its driving force is the difference in pressure between the two sides of a special membrane. Membrane technology enables you to bring down overall production costs, and boost product quality at the same time. In its most basic terms, membrane filtration involves passing a single feed stream through a membrane system that separates it into two individual streams, known as the permeate and the retentate. The membrane that separates them is a physical barrier with highly specialized characteristics – a barrier that only certain selected components in the feed stream can pass through.
End Use – Segment Analysis
Food & Beverages holds the largest market share in the different end use industries for the Water treatment Technology market. Water quality has a substantial impact on food and beverage industry manufacturing processes due to its dual role as both a utility and an ingredient. To ensure a safe, reliable, and consistent product, industry leaders invest in industrial water purification systems that meet regulations and help ensure a quality product. Water is both an active ingredient in many products as well as a utility medium critical to cleaning and sanitation in the food and beverage manufacturing industry. In other words, a trustworthy water source is a key factor in a trustworthy product. When special care isn’t taken to protect the water supply, manufacturers run the risk of creating a tainted product, which can take a toll on finance and reputation. An industrial water purification system offers manufacturers and consumers peace of mind by eliminating toxins and biological material that can impact the safety of food and beverage products.
Geography – Segment Analysis
APAC dominated the Water Treatment Technology market with a share of more than xx%, followed by North America and Europe. Water purifier industry have gained increased popularity among residential users, due to deteriorating water quality, rise in urbanization, and surge in incidence of waterborne diseases. Moreover, retail stores have the added advantage of immediate gratification, which further boosts its popularity. In addition, the demand for water purification systems in developing countries is fueled by increase in availability of safe water by municipalities and upsurge in the number of water recycling treatments.
Drivers – Water Treatment Technology Market
Implementation of Stringent Governments’ Regulations
Stringent Governments’ regulations globally towards the health of people have drive the market demand for Water Treatment Technology. Increase in concerns toward health and well-being among the global population has led to the adoption for hygiene practices. Due to this, people started to looking for the waste water to be recycled and reused for various purposes. Rise in awareness of reuse of water results in the introduction of highly efficient technologies to utilize the available waste water. So, ultimately the governments’ regulations have driven the water treatment technology market.
R&D activities in water treatment technology sector
Research & Development in water treatment technology is currently on a rise. Few of the innovations are UV water treatment, reverse osmosis water softener, ozone water treatment. Increase in these activities has resulted in the introduction of numerous new technologies in this market. This in turn increases the efficiency of water treatment technology, delivering more quality products in the market. As an example, we can see how water purifier companies have seen boon in their market in the last decade. Due to the peculiarities of the small agglomerations, the treatment solutions used in medium and large cities usually do not give satisfactory results if they are implanted directly into those communities. It is therefore necessary to adapt these technologies to the small towns or to search for new treatment solutions
Challenges – Water Treatment Technology Market
Impact of COVID 19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for Water Treatment technology market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Water Treatment Technology market. In 2019, the market of Water Treatment Technology has been consolidated by the top five players accounting for xx% of the share. Major players in the Water Treatment Technology Market are Aecom, Aquatech, Ashland Inc, Basf Se, Dow Water Process Solution, E. I. Veolia Water Technology De Nemours And Company, Evoqua Water Technology, among others.
In February 2015, 3M acquired Polypore International (US), which is a manufacturer of membranes and modules for filtration, for USD 1 billion. This acquisition enabled the company to add new technologies to the existing water treatment systems of 3M.
In January 2015, Best Water Technology (BWT) AG acquired Mettem Technologies Group, Russia, which was a market leader in the table water filters market in the country. This acquisition strengthened Best Water Technology (BWT) AG’s market presence in the Russian water filter market.