(Credit: Meticulous Research)The industrial wastewater treatment market is forecast to grow at a CAGR of 7.2% between 2020 and 2027, reaching a value of $77.6 billion, according to a new report from Meticulous Research. The membrane bio-reactor (MBR) technology segment is expected to grow at the highest CAGR, as it has emerged as an efficient, compact technology for industrial wastewater treatment.
The growing demand for energy-efficient and advanced water treatment technologies is expected to provide significant growth opportunities for industrial wastewater treatment system providers in the coming years.
Other growth factors include rapid population growth and urbanization, rising industrialization, and a growing emphasis on water quality and public health. The EPA issues industrial water pollution control regulations, also called effluent guidelines and standards, for industrial water discharges to surface waters and publicly owned treatment works. These guidelines, issued under the Clean Water Act, prevent more than 700 million pounds of pollutants from discharging into US waters each year.
However, high installation, maintenance, and operational costs are expected to hinder the growth of this market to a certain extent. The aging of existing water infrastructure is another major challenge for the growth of the industrial wastewater treatment market in the US, according to the report.
Around the world, the demand for water suitable for drinking, industrialization, and agriculture is accelerating. The Indian and Chinese economies' renewed efforts to mitigate water stress and pollution is propelling environmental expenditure in the region. Government initiatives, favorable policies, subsidies, and expanded investments in textile and pharmaceutical industries are the key drivers for the industrial water market.
China has increased its efforts toward combating high levels of environmental pollution due to the country's accelerated economic growth. However, China's most recent environmental report remains bleak, suggesting that 61.5% of groundwater and 28.8% of key rivers were classified as "not suitable for human contact." Industrial and agricultural industries largely cause the contamination. While there are no quick solutions to the country's water pollution crises, wastewater to biogas could address China's main source of water pollution and open a potentially successful source of renewable energy, the report states. In 2020, China accounted for the largest share of the Asia-Pacific industrial wastewater treatment market.
Key players operating in the global industrial wastewater treatment market include:
