Market Trends of Flotation Reagent Industry
This section covers the major market trends shaping the Flotation Reagent Market according to our research experts:
Water & Wastewater Treatment Segment to Uplift Flotation Reagent Market
- Increasing focus on water and wastewater treatment across the globe is regarded to support the development of the flotation reagents market during the forecast timeframe. Strict guidelines regarding sullied water from different businesses as it contains injurious synthetic compounds are anticipated to help the development of the market.
- Several countries are witnessing a dire water shortage as present sources both surface and groundwater are becoming increasingly stressed. The growing demand for the access to water sources is expected to drive the market for water treatment.
- The global industrial wastewater treatment market size is anticipated to grow from USD 11.4 billion in 2019 to USD 15 billion by 2024.
- All the aforementioned factors are expected to drive the flotation reagent market during the forecast period.
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Asia-Pacific to be Fastest Growing Market for Flotation Reagent
- Asia-Pacific is forecasted to be the fastest-growing market because of the huge demand for clean drinking water for the enormous population residing in the region.
- India is amongst the nations which are lacking clean drinking water and hence the demand for efficient water & wastewater management is rising.
- By 2030, India's water demand is expected to exceed supply by two times, indicating severe water scarcity in the country. Moreover, annual per capita water availability is expected to reduce to 1,140m3 by 2050. As per the Composite Water Management Index - Niti Aayog, 6% of GDP will be lost by 2050 due to water crisis under business-as-usual scenario.
- China is amongst the largest iron ore mine producers in the world and its 2019 production is estimated to be 350 million metric tons. Therefore, growing mining activities are anticipated to propel the demand for the flotation reagent mining sector.
- Thus, rising demand from various industries coupled with government support is expected to drive the market studied in the region during the forecast period.
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