Market Trends of Industrial Sludge Treatment Chemicals Industry
This section covers the major market trends shaping the Industrial Sludge Treatment Chemicals Market according to our research experts:
High Demand for Activated Sludge Type is Expected to Boost the Market
- Activated sludge is the most efficient process of treating wastewater by aeration, and thus, widely employed by end-user industries, such as food and beverages, municipal water treatment, pulp and paper, personal care, etc., due to large production of sludge in these sectors.
- The food and beverage industry is anticipated to account for more than USD 75 billion by the end of 2020, and it is estimated to register a CAGR of 8% and reach USD 105 billion by 2024.
- Within a span of 5 years, the market value of the global pulp and paper industry is projected to grow from USD 63.3 billion in 2019 to USD 79.6 billion by the end of 2024, thereby, increasing the demand for activated sludge type in the industry.
- Revenue from the personal care market is estimated to be around USD 232.094 billion in 2020.
- All the aforementioned factors, alongside government support, are expected to propel the global industrial sludge treatment chemicals market during the forecast period.
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Asia-Pacific to be the Largest Market for Industrial Sludge Treatment Chemicals
- Asia-Pacific is expected to have the largest market share in the industrial sludge treatment chemicals market globally during the forecast period.
- China's food and beverage sector is the largest in the Asia-Pacific region, as well as across the world, summing up USD 26.7 billion in 2019. It is estimated to grow up to the size of USD 38.7 billion by 2024.
- In 2019, the industry revenue of the manufacture of paper and paper products in India is projected to be USD 15.59 billion, and it is expected to reach a value of USD 17.01 billion by 2023.
- The personal care industry is estimated to generate a revenue of USD 54.28 billion in 2020 from the Asia-Pacific region. It is also expected to register a CAGR of 8.4% and may reach USD 74.96 billion by 2024.
- Thus, the rising demand from various industries, coupled with government support from the countries across the region, is expected to drive the market studied during the forecast period.
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