Sludge Treatment Chemicals Market to cross $5.5 Billion by 2022
Global Sludge Treatment Chemicals Market Outlook 2015-2022:
Global Sludge Treatment Chemicals Market top players are BASF SE, Kamira OYJ, Amcon Inc., GE Water & Process Technologies, Ovivo Inc., Accepta Water Treatment, Ecolab Incorporated, Kurita Water Industries Ltd., Beckart Environment, Inc., The Dow Chemical Company, Hubbard-Hall Inc.
Sludge Treatment Chemicals Market is expected to garner $5.5 billion by 2022, registering a CAGR of 5.3% during the period 2016-2022. The global demand for sludge treatment chemicals has gained traction owing to the stringent government regulations for sludge disposal into the environment. Among these chemicals, coagulants held about two-third of the market share in 2015.
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The food & beverage industry segment held the highest market share of about 19.30% in 2015 as sludge treatment chemicals are used in large quantities to treat wastewater that has high BOD (Biochemical Oxygen Demand) and COD (Chemical Oxygen Demand) content. In addition, the treatment of sludge generated by the food & beverage industry is foremost important, as BOD and COD have obligations in terms of public health and environmental issues. Further, the metal processing industry is expected to be the fastest growing application segment during the forecast period.
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Key Findings of Sludge Treatment Chemicals Market
- Coagulants segment occupied highest share in 2015.
- North America would continue to lead the market throughout 2022.
- China was one of the leading consumers of the sludge treatment chemicals in the Asia-Pacific region in 2015.
- Rate of consumption of flocculants is expected to increase at highest pace in metal processing industry among all the industries.
North America and Europe collectively accounted for more than half of the total sludge treatment chemicals market, in 2015 and are expected to maintain their lead position throughout the forecast period. Huge number of wastewater treatment plants coupled with advanced sludge management programs such as usage of biocides in fertilizers and electricity generation among others are the key factors responsible for the growth of the sludge treatment chemicals market in these regions. However, Asia-Pacific is projected to be the fastest growing segment during the forecast period, due to increasing industrial activities coupled with rising environmental awareness among the consumers.