Market for Zero Liquid Discharge to expand at 8.2% CAGR Through 2031
NEW YORK, Oct. 26, 2021 /PRNewswire/ -- Global zero liquid discharge sales are set to be valued at US$ 744.6 Mn in 2021, with steady long-term projections, according to latest insights by Persistence market Research. The report estimates the market to expand at 8 to 9% CAGR from 2021 to 2031.
Constant demand from heavy end-use industries is driving market growth on a global scale. The fact that there is a zero liquid discharge system design that is suitable for almost any application involving wastewater makes aids constant market expansion.
However, demand for zero liquid discharge plunged in 2020 due to the COVID-19 pandemic, as manufacturers faced supply chain constraints. Moreover, manufacturing facilities put their production on hold in order, adhering to government regulations. Not just 2020, but 2021 is also expected to be affected by numerous factors like socio-political changes happening worldwide.
Nevertheless, there are numerous developments taking place across the landscape:
For instance, in August 2021, WABAG expanded its global footprint with a technologically advanced oil & gas order worth US$ 165 Mn at Amur Gas Chemical Complex LLC., ('AGCC') in Russia. The facility will have a concentrate evaporator unit to maintain ZLD.
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Key Takeaways from Market Study
- Persistence Market Research predicts healthy industrial sector growth rate in economies such as Brazil, India, the Middle East, and Africa, where demand for ZLD will be decent.
- Chemicals & petrochemicals estimated to account around 16% market share.
- Power generation will be another prominent application of zero liquid discharge systems.
- The global zero liquid discharge market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -0.5%.
- The market in GCC Countries is projected to expand at a CAGR around 8%, while that in ASEAN at close to 11%, through 2031.
- The market in India is set to surge at greater than 11% CAGR, while in the rest of South Asia & Pacific at around 12%, over the next ten years.
"The market may see some more downturns in 2021 as well, owing to reduced cash collection in 2020, but after a few quarters thereafter, the scenario will be better. With depleting freshwater resources and long-term overhead reduction in resource utilization and effluent treatment systems, ZLD is expected to be a viable option for existing treatment facilities as well as for new unit installations in respective end-use industries," says a Persistence Market Research Analyst.
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Competitive Landscape
The market is fragmented with key players accounting for more than 50% of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in this industry are GEA Group AG, VA Tech Wabag, Doosan Corp., Veolia Water Technologies, SUEZ Water Technologies & Solutions, and IDE Technologies.
Find More Valuable Insights
The research report analyzes demand for zero liquid discharge. The global market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background.
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As per Persistence market Research' research scope, the market has been analyzed on the basis of system type, application, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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