Expanding efforts towards water preservation exercises by environmental associations, industrial bodies, along with municipal corporations is boosting the sales of sludge treatment chemicals. The global sludge treatment chemicals market based on value reached US$ 6,580.0 Mn during 2015, which is anticipated to reflect a CAGR of 4.8% throughout the assessment period, to touch US$ 10,944 Mn towards 2026 end.
The demand for sludge treatment chemicals is projected to grow at a remarkable pace across industrial and municipal sludge treatment plants as a result of the strict regulations by the environmental and government agencies such as the Environmental Protection Agency (EPA) in North America. Growing awareness amid the public and absence of freshwater resource availability is also expected to boost demand for sludge treatment chemicals market globally. Quick industrialization outcomes in a rise in industrial sludge production that necessitates being treated, hence are supporting the market development during the forecast period 2016-2026.
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Technological developments are prepared to create processes that discover the content of nutrients in the sludge. The fertilizer made from industrial sludge is anticipated to replace agricultural synthetic fertilizers and it will boost the industrial sludge treatment chemical market growth during 2016-26.
COVID-19 Impact Analysis
Several leading market players in the industry have come forward to manufacture raw materials for safety products required for restricting the virus spread. The major market players such as INEOS, Huntsman, and Dow are ramping up the manufacturing of hand sanitizers.
Production plants are worker-dense as most of the operations cannot be executed remotely. To deal with the social distancing concerns, amid the COVID-19 pandemic, market players are carrying out staggered shifts and ascertaining a safe distance amid workers.
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Key Takeaways of Market Study
- Based on product type, the flocculant category accounted for 56.3% of the market share in the globally during 2016.
- The disinfectant product type’s market share is likely to grow by 1.8x with sales anticipated to be estimated at US$ 656.4 Mn towards 2026 end.
- In terms of application, the municipal category held the majority of market revenue share and is anticipated to record noteworthy CAGR during 2016-2026.
- Based on treatment, the primary treatment is anticipated to dominate the market share in volume and value terms.
- The tertiary treatment category will reflect a CAGR of 5.1% during 2016-2026.
The Asia Pacific regional market is likely to foresee a comparatively higher CAGR of 6.0% in revenue terms over the forecast period. Western Europe and North America are projected to add remarkable revenue share to the sludge treatment chemicals market all through the conjectured period. Stringent regulation concerning the sludge treatment has directed towards long term supply agreements.