(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Flocculant & Coagulant Market by Type (Coagulant, Flocculant), End-use Industry (Municipal Water Treatment, Paper & Pulp, Textile, Oil & Gas, Mining), and Region - Forecast to 2028" report has been added to ResearchAndMarkets's offering. The global flocculant & coagulant market is estimated to be USD 10.4 billion in 2023 and projected to reach USD 12.5 billion by 2028, at a CAGR of 3.8%
Implementation of stringent environmental regulations across the globe for wastewater treatment, limited availability and declining freshwater resources, growth in mining and mineral processing are the factors driving the market for flocculants & coagulants. However, alternative water treatment technologies, high cost related to acquiring and using flocculants and coagulants.
Emerging trends towards eco-friendly and biodegradable flocculant and coagulant, and rapid industrialization and urbanization in emerging economies are expected to offer significant growth opportunities to manufacturers. Major challenges faced by the players in this market are the stringent environmental regulations pertaining to use on chemicals for the formulation of flocculant and coagulant.
APAC is the largest and the fastest-growing market for flocculants & coagulants. The region leads the flocculant and coagulant market's growth due to rapid industrialization and urbanization, particularly in China and India, leading to increased wastewater. Stringent environmental rules aimed at enhancing water quality drive demand. Expanding sectors like manufacturing, mining, and municipalities contribute to higher utilization.
Heightened awareness of water scarcity and the emphasis on sustainable water management practices further boost the adoption of these chemicals, solidifying Asia-Pacific's status as the market's fastest-growing region.
The flocculant & coagulant market is dominated by a few globally established players such as Kemira OYJ (Finland), BASF SE (Germany), Ecolab Inc. (US), SNF Floerger (France), and Solenis LLC (US).
Textile segment accounted for the third largest market share amongst other end-use industries in the flocculant & coagulant market
The textile industry is the third-largest end-use industry in the flocculant and coagulant market due to its significant water treatment needs. Textile manufacturing involves dyeing, printing, and finishing processes that generate substantial wastewater containing dyes, chemicals, and suspended solids.
Coagulants and flocculants are essential for efficiently treating this wastewater by aiding in the removal of colorants and impurities. Environmental regulations for wastewater discharge and the industry's growing emphasis on sustainable practices further drive the demand for these chemicals.
The municipal water treatment segment is estimated to be the second fastest growing segment in the flocculant & coagulant market during the forecast period
Municipal water treatment stands as the second fastest-growing end-use industry in the flocculant and coagulant market due to several compelling factors. Growing urban populations increase demand for clean drinking water, necessitating robust water treatment processes. Moreover, aging water treatment infrastructure and stringent regulations regarding water quality drive the adoption of flocculants and coagulants.
Municipalities worldwide are upgrading their treatment facilities to meet these standards, resulting in higher demand for these chemicals. Additionally, the ongoing need for wastewater treatment and recycling, coupled with expanding urban areas, reinforces the role of flocculants and coagulants in addressing water management challenges within municipal applications.
Based on region, MEA is projected to be third fastest growing market in the flocculant & coagulant market during the forecast period
The Middle East and Africa region is the second fastest-growing segment in the flocculant and coagulant market due to several key drivers. This region is experiencing rapid industrialization, population growth, and urbanization, leading to increased wastewater generation and the need for effective water treatment solutions.
Additionally, stringent environmental regulations and a growing awareness of water scarcity issues are driving the demand for flocculants and coagulants. As the region focuses on sustainable water management practices, these chemicals play a crucial role in water treatment and purification processes, thus contributing to the impressive growth of the flocculant and coagulant market in the Middle East and Africa.
The report provides insights on the following pointers:
Analysis of drivers (Implementation of stringent environmental regulations across the globe for wastewater treatment, limited availability and declining freshwater resources, growth in mining and mineral processing), restraints (alternative water treatment technologies, high cost related to acquiring and using flocculants and coagulants), opportunities (emerging trend towards eco-friendly and biodegradable flocculant and coagulant, rapid industrialization and urbanization in emerging economies) and challenges (stringent environmental regulations pertaining to use on chemicals for the formulation of flocculant and coagulant) influencing the growth of flocculant & coagulant market. Market Penetration: Comprehensive information on flocculant & coagulant market offered by top players in the global market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and mergers & acquisitions in the flocculant & coagulant market. Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for flocculant & coagulant market across regions. Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the flocculant & coagulant market.
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