New York, USA, Jan. 05, 2021 (GLOBE NEWSWIRE) -- As per a latest report offered by the Research Dive, the global industrial sludge treatment chemical market is anticipated to generate a significant revenue of $7,727.7 million by the year 2026, from a market size of $4,885.2 million in the year 2018, with a notable CAGR of 5.9% during the forecast period. The all-inclusive report cites numerous facets such as the market dynamics, present scene of the market, growth factors, hindrances, obstacles, and forthcoming opportunities in the analyzed period.
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Factors Affecting the Market Growth
The industrial sludge treatment chemical market is predicted to grow in the forecast period as industrialization has resulted in the increase of the requirement of industrial sludge removal products. Furthermore, rise in several end-users such as automotive, mining, food & beverage, and metal industry that use sludge removal process is expected to be another factor to enhance the market growth. Apart from this, utilization of chemical treatments to neutralize pH and reduce the volume of sludge is estimated to fuel the market growth in the forecast period.
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Certain companies are adopting new wastewater treatment techniques that result in the generation of less amount of sludge, therefore this aspect is expected to restrain the market growth during the forecast period. On the other hand, conversion of sludge into agriculture fertilizer is projected to create investment opportunities for the market.
The report divides the market into segments based on type, sludge type, process treatment, end-use, and regional analysis.
Flocculants Type Segment to be the Most Lucrative
The flocculants type segment is predicted to gain $1,684.6 million by 2026, increasing from a notable market size of $996.6 million in 2018. Several industries such as paper & pulp, food & beverage, and production industries use flocculants for the agglomeration process. The rise in demand for flocculants by such industries is projected to boost the market in the forecast period.
Primary Sludge Type Segment to Generate Maximum Revenue
The primary sludge type segment is expected to generate a significant revenue of $1,669.1 million by 2026, from a healthy market share of $1,016.1 million in 2018. The primary sludge treatment eradicates pollutants like heavy metals, organic phosphorus, and organic nitrogen. This factor is anticipated to bolster the market growth during the forecast period.
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Dewatering & Drying Process Treatment Segment to be the Most Profitable
The dewatering & drying process treatment is projected to gain $1,700.1 million by 2026, from a substantial market size of $1,016.1 million in 2018. Rise in the adoption of the dewatering & drying treatment method by chemical and food & beverage industries is estimated to propel the market growth during the forecast period.
Food & Beverage Sub-Segment to Generate Substantial Revenue
The food & beverage sub-segment is anticipated to surpass $1,074.1 million by 2026, from a noteworthy market share of $942.8 million in 2018, with a healthy CAGR of 19.3% during the forecast period. The food & beverage industry produces tremendous waste water as compared to the other industries such as automotive or mining. This aspect is expected to fuel the market growth during the forecast period.
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Regional Analysis
The Asia-Pacific region is predicted to create numerous opportunities in the industrial sludge treatment chemical market during the forecast period. This region is expected to garner revenue of $2,287.4 million by 2026, from a significant market size of $1,406.9 million in 2018, with a healthy CAGR of 6.3% during the forecast timeframe. The market growth is due to a rise in the number of production and manufacturing industries that generate huge amount of sludge.
Major Players of the Market
• The Dow Chemical Company
• Accepta Water Treatment
• Kamira OYJ
• Kurita Water Industries Ltd.
• BASF SE
• Amcon Inc.
• Ecolab Incorporated
• GE Water & Process Technologies
• Hubbard-Hall Inc.
• Beckart Environment
• Ovivo Inc.
These market players are focusing on novel product launches as this is one of the prominent developing strategies for increasing the market size in the global industrial sludge treatment chemical industry. For instance, in 2019, Kurita Water Industries Ltd. presented a demonstration on “Japanese Experiment Module-Kibo”, which is an elemental technology and treatment method used for water recycling technology system at the International Space Station (ISS).
The report summarizes various aspects of all the prominent players functioning in the market such as financial performance, recent strategic moves & developments, product portfolio, and SWOT analysis. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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