Bulk Chemical Industry reports: 2021

Wednesday, 29 December 2021

Waste Recycling Services Market Worth $81.3 Billion By 2028

The global Waste Recycling Services Market size is anticipated to reach USD 81.3 billion by 2028, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth.

Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects.

Rapid industrialization has boosted the consumption of harmful chemicals, resulting in the generation of a substantial amount of hazardous waste. Furthermore, increased agricultural production has boosted the livestock & agricultural crop wastes along with agro-industrial by-products. Thus, increased generation of waste is likely to boost the demand for services for waste recycling.

Governments across the world are embracing the public-private partnership model to match the operational knowledge provided by the private sector. Rising focus on greening the waste recycling industry with emphasis on the 3Rs i.e. reduce, reuse, and recycle is critical to achieving the environmental, economic, and social goals of sustainable development, thereby driving the market growth.

Related Press Release@ Waste Recycling Services Market Report

Waste Recycling Services Market Report Highlights

The municipal segment accounted for over 53% of the global revenue share in 2020 owing to the implementation of policy frameworks and increasing investments in municipal trash recycling services in developing economies of India, China, Bangladesh, and Thailand
Electronic waste accounted for a significant market share in 2020 as manufacturers are focusing on recycling, disposing, and reusing to ensure a sustainable future, both in developed and developing economies
Plastics are projected to witness a CAGR of 7.0% from 2020 to 2028 on account of initiatives undertaken by various governments, environmentalists, and non-profit organizations globally to reduce plastic waste and meet sustainable development goals
Asia Pacific accounted for more than 39% of the global revenue share in 2020 due to the rapid industrialization, population expansion, and economic growth, resulting in increased waste generation
The global market has witnessed significant technical improvements and sustainability, which have aided the service providers to reduce operating costs and enhance profit margins

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Thursday, 16 December 2021

Antimicrobial Coatings Market by AkzoNobel N.V., Nippon Paint Co. Ltd., PPG Industries Inc., RPM International

The global Antimicrobial Coatings Market size is anticipated to reach USD 21.5 billion by 2028, registering a CAGR of 13.1% over the forecast period, according to a new report by Grand View Research, Inc. AkzoNobel N.V., Nippon Paint Co. Ltd., PPG Industries Inc., RPM International, DSM, The Sherwin Williams Company are some of the key players in this industry. Increasing concerns among consumers and various manufactures about cleaning and preventing the growth of bacteria, mold, and fungi on buildings, equipment, etc. are expected to drive the product demand.

The product demand is expected to increase in the medical devices and packaging application industry owing to the rising cases of Covid-19 around the world. The continuously growing demand for medical devices and packaging products for Covid-19 will positively affect the market. North America is expected to dominate the global market due to the presence of major healthcare product manufacturers in the region.

Silver-based biocides are widely used in medical applications owing to their excellent antimicrobial properties. Recently, a new U.S.-based othiazolin-based biocide, n-butyl-1,2-benzisothiazolin-3-one is also used as an antimicrobial agent to prevent the spread of germs. Moreover, the rising demand for implantable medical devices and the increasing burden of Cardiovascular Diseases (CVDs) is expected to aid the overall demand over the next eight years.

On the basis of product, the global market is segmented into antimicrobial powder coatings and surface modification & coatings. The surface modification & coatings segment was the prominent product segment and accounted for the largest revenue share of over 53% in 2020. The antimicrobial powder product segment is expected to witness the fastest CAGR over the forecast period due to the high demand for silver-based, copper-based, and other coatings. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, high thermal stability, and protection against microbial growth.

Related Press Release@ Antimicrobial Coatings Market Report

Antimicrobial Coatings Market Report Highlights

The mold remediation application segment is expected to register the highest CAGR, in terms of revenue, over the forecast period
The cost involved in remediating a mold-infested building can be staggering, especially when the building has inferior coatings, which is anticipated to be a primary factor for the high growth rate of the segment
In terms of volume, the air conditioning and ventilation segment accounted for the maximum share of over 22% in 2020
These products help deter the growth of micro-organisms in Heating, Ventilation & Air Conditioning (HVAC) systems
North America accounted for the highest revenue share in 2020 and will retain the leading position throughout the forecast period
The market in the U.S. is projected to witness a CAGR of 13.7% from 2021 to 2028 due to the high demand for advanced medical devices & healthcare services
The availability of well-developed healthcare infrastructure, reimbursement coverage, and rising Covid-19 cases in the country are anticipated to drive the demand for advanced medical devices& healthcare services

Thermal Spray Coatings Market Size is Estimated to Witness 4.1% CAGR till 2028

The global Thermal Spray Coatings Market size is projected to reach USD 14.1 billion by 2028, registering a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. The global market is anticipated to be driven by the increasing product application scope owing to advantages, such as wear and corrosion protection, low toxic gas emissions, thickness capability, and electrical resistance.

Thermal spraying is used to improve or restore the surface of a solid material. It can also be used for applying coatings to a wide range of components and materials for better resistance against cavitation, wear, abrasion erosion, and heat. Approximately, 40 to 45% of paints & coatings produced globally are used as protective and decorative paints in the architecture industry. These can be used either for existing or newly constructed structures including monuments, private offices, residential buildings, plants & factories, and public buildings.

China, India, and Indonesia are majorly contributing to the growth of the construction industry in Asia Pacific. The rising population coupled with rapid urbanization & industrialization, especially in the aforementioned economies, has encouraged governments to increase their construction spending and boost infrastructural development. Furthermore, the rising popularity of powder-based coatings owing to the low cost is also significantly contributing to the growth of the global coatings market. Various rules are applicable, in terms of the manufacturing of coatings, due to the carcinogenic and flammable nature of solvents.

However, powder-based coatings are eco-friendly as they contain no solvents and hence do not lead to Volatile Organic Compounds (VOCs), which cause air pollution. The Covid-19 pandemic has severely disrupted supply chains and sharply curtailed product demand. Restriction in transportation and supply due to slowdown or halting of factories and partial or nationwide lockdowns in several countries to restrain the spread of the coronavirus are expected to have an adverse impact on market growth.

Related Press Release@ Thermal Spray Coatings Market Report

Thermal Spray Coatings Market Report Highlights

The aerospace application segment dominated the market with a revenue share of 32.2% in 2020
The high growth is attributed to the wide product usage in aerospace applications as it helps reduce the high-temperature effects on components and increase their lifespan
Ceramics was the dominant product segment and accounted for the highest revenue share in 2020
This growth is credited to the high demand for these products from the industries, such as healthcare, aerospace & defense, energy, and industrial goods
The global market is highly competitive because of the presence of several medium- and small-scale companies across the globe
Key manufacturers focus on developing innovative formulas to offer diverse and high-quality products

Wednesday, 15 December 2021

Plastic Packaging Market by Amcor plc, Sealed Air, Coveris, Berry Global, Inc., Mondi

The global Plastic Packaging Market size is expected to reach USD 486.2 billion by 2028, according to a new report by Grand View Research, Inc., registering a CAGR of 4.2% over the forecast period. The rapid expansion of the food & beverages, personal care, and pharmaceuticals sectors coupled with the rising penetration of organized and e-retail across the world is expected to fuel market growth.

Low-density Polyethylene (LDPE), Polypropylene (PP), High-Density Polyethylene (HDPE), and Polyethylene Terephthalate (PET) are the most widely used materials for the manufacturing of products, such as bottles & jars, trays & containers, wraps & films, and pouches, as they are cost-effective, lightweight and have extensive functionalities and strong barrier properties against moisture. Growing demand for sustainable packing solutions is prompting manufacturers to use recycled plastic resins to make such products.

Globally, the changing lifestyle led to the introduction of single-serve packaging that significantly contributed to the market growth in the past few years. Moreover, advancements in technology, such as the development of modified atmosphere technology (MAP) and airless packaging, and their growing penetration in the food & beverages and personal care industries are likely to boost the growth of the global market.

However, plastic is a non-biodegradable, unsustainable material; thus, its products, specifically single-use packing solutions, are banned across several countries. For instance, on March 11, 2020, the European Union (EU) released its new ‘Circular Economy Action Plan’ intended to promote sustainable packaging in the region. Moreover, growing consumer awareness levels are compelling manufacturers to switch to biodegradable materials, which is expected to hamper the industry growth to some extent.

Asia Pacific emerged as the leading regional market with a revenue share of 43.8% in 2020 and is expected to witness the fastest CAGR from 2021 to 2028. This growth is attributed to the robust growth of manufacturing and e-commerce sectors in several emerging Asian countries, such as India, China, and Thailand. The global market is highly fragmented with the presence of large-scale international companies as well as small- and medium-scale domestic players. Key players are focusing on acquisitions and also increasingly expanding their product portfolios to gain maximum market share.

Related Press Release@ Plastic Packaging Market Report

Plastic Packaging Market Report Highlights

In terms of revenue, the flexible product segment is projected to ascend at the fastest CAGR of 4.5% over the forecast period on account of the growing demand for pouches and bags in the food & beverages sector owing to their low cost and high sustainability
The extrusion technology segment accounted for the largest revenue share of over 38% in 2020
The segment is estimated to retain the leading position throughout the forecast period as the majority of the flexible packing solutions, such as pouches, bags, and films, are produced with the help of extrusion technology
Food & beverages was the largest application segment in 2020 and accounted for more than 51% of the global revenue share
Extensive product usage for the packing of raw food products and for final packaged single-serve food packing mainly contributed to the higher share of the food & beverages segment

Expanded Polystyrene Market by BASF SE, Kaneka Corp., Total, NOVA Chemicals Corporate

The global Expanded Polystyrene Market size is anticipated to reach USD 13.5 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 4.8% from 2021 to 2028. The rising demand for eco-friendly, lightweight, durable, and sustainable products and components, primarily for thermal and acoustic insulation, in the automotive, construction, and packaging industries is driving the market growth over the forecast period.

Technological advancements and the growing popularity of Electric Vehicles (EVs) have increased the need for lightweight, durable, and recyclable products. A gradual increase in EVs on roads is expected to positively propel market growth. However, the Covid-19 pandemic has immensely affected the production of automobiles and the value chain of the automotive industry. Production cuts or halt in manufacturing activities, weak consumer sentiments, and declining demand from consumers owing to the pandemic are expected to limit the market growth to some extent.

The Asia Pacific regional expanded polystyrene (EPS) market is projected to have an adverse effect in some application segments owing to the pandemic. The pandemic has led to limitations on cross-border trade, complete lockdowns imposed in major economies, and waning consumer demand that has severely affected the regional manufacturing and construction activities and compelled several manufacturers and contractors to either close or slow down their operations.

Related Press Release@ Expanded Polystyrene Market Report

Expanded Polystyrene Market Report Highlights

The global market was valued at USD 9.5 billion in 2020 and is estimated to grow at a CAGR of 4.8% from 2021 to 2028.
Construction was the largest application segment in 2020; however, the packaging segment is estimated to register the fastest CAGR from 2021 to 2028
The product is widely utilized in the packaging of electrical & electronics, consumer goods, medical & healthcare products, and glass bottles
White EPS is anticipated to emerge as the fastest-growing product segment over the forecast years owing to increasing demand for consumer goods, electronics products, and food packaging solutions, such as food trays, clamshell containers, and disposable cups
Asia Pacific accounted for the largest revenue share of more than 54% in 2020 and is projected to record the fastest CAGR from 2021 to 2028
The growth of this regional market can be credited to the rising number of construction projects in emerging economies, such as China and India

Turkey Automotive Plastic Compounding Market: Current Scenarios and Opportunities

The Turkey Automotive Plastic Compounding Market size is anticipated to reach USD 451.3 million by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 5.8% over the forecast period. According to Automotive Distributors Association (ODD), owing to the support of marketing campaigns and easing of lockdown measures, light commercial vehicles and passenger car sales jumped by 60% year-on-year in July 2020. The demand for automotive vehicles in the country is expected to steadily rise, which, in turn, is projected to fuel the plastic compounding market in Turkey.

Rising environmental awareness among the consumers and stringent regulations regarding pollution control have compelled automotive original component manufacturers to control automotive emissions by utilizing innovative lightweight materials. Car weight reduction is one surefire method of achieving carbon emission savings as weight reduction drastically boosts fuel efficiency and eliminates pollution to a large extent. Thus, plastic compounds of various chemistries are being utilized in several automotive interior & exterior components to ensure lower carbon emission levels.

Amid the COVID-19 crisis, the decline in demand was observed in the manufacturing sector of Turkey in Mid-March of 2020. The country’s automotive exports decreased by 30%. Similarly, the demand for plastic compounding decreased. Automotive companies in Turkey suspended their production activities. The demand for automotive declined as consumers were concerned about meeting their basic needs in the crisis. As the main markets for the Turkish automotive industry are European countries and about 75% of automotive production is sold in the European market, the production of automotive plastics and OEMs was negatively impacted by the decreasing domestic and foreign demand.

Related Press Release@ Turkey Automotive Plastic Compounding Market Report

Turkey Automotive Plastic Compounding Market Report Highlights

Polypropylene (PP) was the largest product segment in 2020. PP resins have become an essential ingredient for lightweight impact-resistant automotive parts on account of the lower specific gravity of PP resins, which provides improved fuel economy and low emission
The Interior component was the largest application segment in 2020. The rising demand for lightweight interior components to reduce the overall vehicle weight and enhance efficiency is driving the demand for automotive plastic compounding in the interior application
Exterior fascia to emerge as the fastest-growing application segment owing to rising demand for energy management technologies that impede roof crush, resist vehicle intrusion, and lower overall car body weight without compromising on safety or performance

Tuesday, 14 December 2021

Automotive Plastics Market Worth $38.7 Billion By 2028 | CAGR: 4.4%

The global Automotive Plastics Market size is anticipated to reach USD 38.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028. A rising preference for high-performance plastics to substitute conventional metals and rubber is expected to impel market growth.

The polyurethane product segment is anticipated to witness significant growth over the forecast period owing to its ability to infuse the characteristics of both plastics and rubber at a lower weight compared to metal and other plastic materials. Increasing product demand from the automotive industry for use in refrigeration insulation, interior trims, and seat cushioning is expected to boost product demand over the forecast period.

On the basis of application, the market is segmented into powertrain, electrical components, interior furnishings, exterior furnishings, under the hood, and chassis. Among them, the power train application segment is expected to witness the fastest growth over the forecast period. The rising application of plastics in powertrain engineering is expected to support market growth in the coming years. It helps the manufacturers of vehicles reduce weight and integrate complex parts, which ultimately boosts performance, delivers higher productivity, and cost savings. According to research conducted by E. I. du Pont de Nemours and Company, currently, plastics penetration stands at 110-120 kilograms per car depending on the engine size and region, while manufacturers are still exploring other new opportunities for the usage of plastics.

In Asia Pacific, the market is expected to witness the fastest CAGR during the forecast period. The growing automotive industry coupled with the rising population and increasing disposable income of middle-class families in the emerging economies of the region is likely to be the primary driving factor in coming years. Moreover, strong government support and initiatives and increasing investment by the government is also propelling the growth of the automotive industry in the region, which, in turn, is anticipated to fuel demand for the product in the region.

Related Press Release@ Automotive Plastics Market Report

Automotive Plastics Market Report Highlights

In North America, the market was valued at USD 4.8 billion in 2020 and is estimated to witness a CAGR of 3.4% from 2021 to 2028. Increasing integration of in-car entertainment and communication systems, engine electronics, advanced safety, and advanced driver-assistance systems are boosting the demand for electrical components application, which, in turn, is fueling the growth of the market in North America
The polypropylene segment accounted for the largest revenue share of more than 32.0% in 2020 and is estimated to maintain its dominance over the forecast period owing to rising demand for lightweight automobile parts
The interior furnishings segment is expected to be the largest application segment over the forecast period owing to rising product usage for interior furnishings in automobiles including body and light panels, seat covers, steering wheels, and fascia systems
Various strategic initiatives were recorded over the past few years in order to boost the growth of the market. For instance, in May 2019, Covestro AG announced its plan to expand the production capacity of polycarbonate films at its Dormagen site in Germany. The site, which is expected to come on-stream by the end of 2020, will manufacture PC films for applications such as automotive interiors, security cards, medical devices, and automotive displays

Waterproofing Membranes Market: Industry Insights By Product and Application

The global Waterproofing Membranes Market size is expected to reach USD 34.61 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 6.4% from 2021 to 2028. The growing advancement in infrastructure and construction activities, coupled with a rise in demand for wastewater and water management, is expected to drive the market.

Adoption of wastewater techniques for water conservation and reuse is increasing owing to the rising demand for portable water resources across the globe. In addition, increasing government support to promote and adopt a wide array of waste management and water treatment initiatives is expected to boost the demand for the product during the forecast period.

Biomembranes are expected to witness a high adoption trend in the coming future owing to the increasing product demand in green building construction. In addition, government support to replace old buildings with new ones is opening new growth avenues for the construction industry, in turn, adding growth to the overall market.

The market is highly dependent upon the dynamics of the raw material supply chain. Although all types of products including cementitious, bituminous, and polyurethane are used for manufacturing waterproofing membranes, cementitious liquid applied membrane and bituminous sheet membranes are the most commonly used waterproofing membranes in the market.

The industry exhibits several mature players controlling a significant market share. However, increasing competition from a large number of small and local manufacturers from the Asia Pacific region is expected to boost the market competition. The market players put high stress on using sustainable raw materials to ensure an environmentally friendly image to their clients.

Related Press Release@ Waterproofing Membranes Market Report

Waterproofing Membranes Market Report Highlights

By product, liquid applied membranes are expected to register the fastest revenue-based CAGR from 2021 to 2028 on account of their thermal-reflective properties for any exterior surface application
Polyurethane liquid applied waterproofing membranes are expected to expand at the fastest revenue-based CAGR of 8.4% during the forecast period owing to seamless finish and easy and fast installation procedure
The roofing application segment accounted for the largest revenue share of over 31.0% in 2020 owing to its high exposure to changing climatic conditions and leakages across residential, commercial, and industrial buildings
Asia Pacific is projected to register the fastest CAGR in terms of revenue owing to increasing investment in residential and commercial construction due to rapid industrialization and the growing population
The majority of the manufacturers have started emphasizing the use of sustainable and corrosive protective raw materials for producing waterproofing membranes to increase their market presence. In addition, growing infrastructure in the developing markets of China, India, and Brazil is adding rapid growth to the construction sector, thereby offering growth prospects to the market

Thursday, 9 December 2021

North America Polycarbonate For Electrical And Electronics Market Worth $1.06 Billion By 2028

The North America Polycarbonate For Electrical And Electronics Market size is anticipated to reach USD 1.06 billion by 2028, according to a new report by Grand View Research, Inc., growing at a CAGR of 3.7% over the forecast period. The product usage in the electrical and electronics market is anticipated to grow due to a rise in the automotive and construction industries in North American countries. This is due to the fact that PC is widely being developed as a material for solar roofs for future mobility applications in Electric Vehicles (EVs) as well as housings for lights and other electrical components, such as switches, sockets, and switchboards, used in residential and commercial structures.

Rising e-commerce and logistics operations are expected to drive the demand for commercial vehicles, thus propelling the demand for PC in lamps enclosures of vehicles. Moreover, the concept of automated warehouses has driven the demand for autonomous robots. Many Original Equipment Manufacturers (OEMs) of autonomous robots use PC as a material for their enclosures.

The U.S. entertainment industry is the largest in the world and includes streaming content, motion pictures, video games, television programs, and commercials. Polycarbonate offers similar properties to that of metal alloys in terms of impact resistance, heat and chemical resistance, and durability to be used in enclosures of consumer electronic devices. With the shift toward digital production and distribution the demand for electronic devices is expected to grow considerably, thereby driving the product demand.

Polycarbonate offers a higher impact-resisting capacity & thermal stability than glass and is lightweight. This makes it an alternative material to glass in lighting applications for residential, commercial, and industrial structures. Moreover, it offers ease in processability option in the housing of LED source as it can be formed into countless shapes and sizes by shaping resins through sheet extrusion and injection molding processes.

Request a free sample copy or view report summary: North America Polycarbonate For Electrical And Electronics Market Report

North America Polycarbonate For Electrical And Electronics Market Report Highlights

The market was valued at USD 660.09 million in 2020 and is estimated to grow at a CAGR of 3.7% from 2021 to 2028
The IT electronics end-use segment is expected to witness the highest CAGR over the forecast period owing to the rising demand for 5G applications, audio, video equipment, and IT servers as a result of the growing IT sector
Electrical enclosures accounted for the maximum revenue share of the overall market in 2020. The reduction in the cost of end products offered by PC along with its lightweight characteristics, and some similar properties to metal alloys have propelled its demand in electrical enclosures applications
U.S. accounted for the largest revenue share of the overall market in 2020 and is expected to witness steady growth from 2021 to 2028
In July 2021, Samsung SDI Co., Ltd. announced its plan to set up a battery cell plant in the U.S. to support the auto industry’s shift to electrification and is in talks with major automakers including Ford Motors Company and Stellantis N.V. to establish a joint venture for EV manufacturing
The rising investments in EVs are expected to result in driving the product demand in vehicle headlamps applications

U.S. Acids Market Size is Estimated to Witness 5.4% CAGR till 2028

The U.S. Acids Market size is expected to reach USD 9.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to reach a CAGR of 5.4% from 2021 to 2028. This growth is attributed to the rising product application scope in food and beverages. Growing utilization of the product in cattle feed to improve the milk production in the ruminants such as cow and sheep is another factor driving the market.

The market for inorganic acid is growing at a significant rate due to the rising consumption of fertilizers and agrochemicals in the agricultural industry. It is used in paper and pulp production for the generation of carbon dioxide, pH adjustments, and tall oil splitting. It is also used to make a protective layer over a metal workpiece such as silver, aluminum, tin, steel, and cadmium.

Organic acids are used in the agricultural system to improve soil, promote plant growth, and controls diseases. It is also used to enhance decomposition, increase soil humus formation, and release plant nutrients. In the personal care and cosmetic industry, it is used to adjust pH concentrations in products and remove dead cells. It is used in acne and anti-aging creams as it helps to reduce wrinkles, decrease blemishes, provide an even skin tone and a smooth skin texture. Its demand for food and beverages is expected to increase owing to its growing penetration in the meat, poultry, and seafood industries. This is expected to boost product demand over the forecast period.

The majority of the players operating in the development and advancement of acids are highly competitive, with the majority of the companies focusing on the development of new products with eco-friendly characteristics and catering to a broader application market. These factors are poised to reflect substantial growth of butyric, malic, and benzoic acids, among others in the market space.

Request a free sample copy or view report summary @ U.S. Acids Market Report

U.S. Acids Market Report Highlights

The market is expected to witness significant revenue-based CAGR of 5.4% owing to rising product demand in several end-use industries such as animal feed, food and beverage, pharmaceuticals, and personal care
The organic acid segment dominated the industry in 2020 with a revenue share of more than 70.0%, considering the high demand for citric, acetic, formic, lactic, ascorbic, succinic, propionic, and fumaric acids
Inorganic acids are widely used in the agriculture sector having a percentage share of more than 39% in 2020 due to high demand in the production of agricultural pesticides
The strong presence of animal feed and feed additive manufacturing companies, especially in developing economies is anticipated to positively influence the demand for the market

Tuesday, 7 December 2021

Water Desalination Equipment Market: Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global Water Desalination Equipment Market size is expected to reach USD 22.79 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2020 to 2028. Increasing water scarcity, depletion in freshwater reserves, and fast-paced advancements in desalination technologies are anticipated to have a positive impact on the market growth.

Deteriorating environmental factors, such as fluctuating weather patterns, rising pollution, and deforestation, have resulted in water scarcity and drought-like scenarios across the globe. The governments of various countries are investing in the development of desalination facilities to combat this situation, which is expected to drive the market.

The rising adoption of renewable energy to desalinate water is gaining traction in the market as the conventional systems require a considerable amount of energy to function, making them expensive and impracticable for usage in underdeveloped countries. Such developments are expected to drive the demand for water desalination equipment over the forecast period.

Key players such as Veolia and Suez have subsidiary companies that are benefited from the international presence of parent companies. Many companies are also investing in outsourcing R&D facilities in developing economies that can be used to expand their geographical presence and reduce the overall production costs by sourcing raw materials from the regional market.

Related Press Release@ Water Desalination Equipment Market Report

Water Desalination Equipment Market Report Highlights

The reverse osmosis technology segment accounted for over 55.0% share of the global revenue in 2020 on account of its inexpensive installation cost, ease of processing, capacity to treat various types of feed water, and minimal usage of chemicals
The municipal application segment accounted for more than 50.0% share of the global revenue in 2020 owing to the growing urban population, coupled with the expanding megacities that are putting a strain on the available water sources, thereby augmenting the market growth
The seawater source segment is projected to expand at the fastest CAGR from 2020 to 2028 owing to the increasing scarcity of water for domestic and industrial use, which is expected to be a key driver in augmenting the demand for seawater desalination
The Middle East and Africa accounted for over 40.0% share of the global revenue in 2020. This is attributed to the scarcity of water resources in the region, which is likely to create a strong demand for water desalination equipment over the forecast period
In July 2020, Abu Dhabi Department of Energy (DoE) started the construction of the largest water desalination plant in the world at Al Taweelah Power and Water complex, which is slated to be completed by 2022