Metal Scavenging Agents Market to Grow at a CAGR of 4.1% During 2023-2031; The Silica-based Type Segment Accounted for Major Share in 2022

Increasing awareness regarding health & safety is a major factor that is anticipated to escalate the market growth. Advancements in analytical techniques, is another factor that is anticipated to stimulate the market share in the coming years


Wilmington, Delaware, United States, June 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.The global Metal Scavenging Agents Market stood at US$ 16.6 million in 2021 and the global market is projected to reach US$ 23.9 million by 2031. The global industry is anticipated to expand at a CAGR of 4.1% between 2022 and 2031.

The market value of metal scavenging agents is increasing, owing to the growing industrialization and urbanization. The rapid pace of industrialization and urbanization worldwide has led to increased metal contamination in various sectors.

Industries such as pharmaceuticals, chemicals, petrochemicals, and food processing generate waste streams containing metal impurities. Metal scavenging agents offer an effective solution for removing these contaminants, thereby ensuring compliance with regulatory standards and enhancing product quality.

Environmental regulations & sustainability initiatives, is another significant factor contributing to the market growth. Stringent environmental regulations aimed at minimizing the release of heavy metals and other contaminants into the environment have fueled the demand for metal scavenging agents.

Industries are under pressure to adopt sustainable practices and reduce their environmental footprint. Metal scavenging agents help companies meet these regulatory requirements and support their sustainability goals by preventing the discharge of harmful metals into water bodies, soil, and air.

The market prospects have been driven by factors such as increasing awareness of health and safety. Industries are increasingly prioritizing the removal of metal impurities from their processes, with the growing awareness of the health risks associated with metal contamination. Metal scavenging agents help mitigate the potential adverse effects of metals on human health and the environment, promoting safer working conditions and reducing the risk of contamination-related illnesses.

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Key Findings of the Market Report

  • On the basis of type, carbon-based segment is likely to be most preferred, expected to expand at a significant share, attributed to high adsorption capacity, and features such as versatility and compatibility.
  • By end-use, water treatment segment is expected to boost the market growth, attributed to the factors including stringent water quality regulations, and growing demand for potable water.
  • Other factors including water pollution and contamination, as well as advancements in water treatment technologies are anticipated to boost the segmental growth in the near future.

Global Metal Scavenging Agents Market: Growth Drivers

  • The global metal scavenging agents market is projected to expand at a steady pace from 2023 to 2031, owing to technological advancements in metal scavenging agents.
  • Other factors that are projected to augment the market growth include expansion of end-use industries, as well as growing demand for clean water.
  • Emerging applications and markets, and advancements in analytical techniques, are the major factors that are anticipated to fuel the market prospects in the near future.

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Global Metal Scavenging Agents Market: Regional Landscape

  • Asia Pacific is expected to dominate the metal scavenging agents market during the forecast period, attributed to rapid industrialization & urbanization, as well as stringent environmental regulations in the region.
  • The regional market is witnessing an increase, due to the factors such as growing awareness regarding health & environmental impacts, and expansion of end-use industries.
  • Growing emphasis on sustainable practices, and technological advancements & research initiatives in the region, are also anticipated to escalate the growth of the regional market over the analysis period.

Global Metal Scavenging Agents Market: Key Players

Some of the key market players in the global metal scavenging agents market are:

  • BASF SE
  • Johnson Matthey
  • SiliCycle Inc.
  • Biotage
  • Prochem
  • PhosphonicS Ltd
  • SUEZ

Competitive Landscape

Prominent players in the metal scavenging agents’ industry are taking advantage of the rapidly increasing demand for metal scavenging agents. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:

  • In 2023, Mitsubishi Chemical Corporation announced the development of a new metal scavenging agent called "Metasiv™." This product utilizes advanced molecular sieves technology to selectively capture and remove heavy metals from wastewater and contaminated soils.
  • In the same year, Johnson Matthey, a multinational specialty chemicals company, introduced a novel metal scavenging agent called "Sorbicor™." This product is specifically designed for the removal of platinum group metals (PGMs) from industrial process streams, such as petroleum refining and chemical manufacturing.
  • In 2022, Dow Chemical Company introduced a new metal scavenging agent named "DOWEX™ Advanced Chelation Resin." This product is designed to effectively remove heavy metals from industrial wastewater and contaminated soils, offering a sustainable solution for metal pollution remediation.
  • In the same year, Purolite Corporation, a global manufacturer of specialty resins, introduced "Purolite® S950 Metal Scavenger." This product is designed to remove trace metals from various process streams, including pharmaceuticals, food and beverages, and mining. It offers high selectivity and efficiency in metal removal.

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Global Metal Scavenging Agents Market: Segmentation

By Type

  • Alumina-based
  • Carbon-based
  • Silica-based
  • Resin-based
  • Others

By End-use

  • Water Treatment
  • Food & Beverage
  • Pharmaceutical
  • Oil & Gas
  • Chemical
  • Pulp & Paper
  • Others

Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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