The global flocculants market size was valued at USD 9.12billionin 2022. The industry is expected to expand from USD 9.72billionin 2023 to USD 15.53billionby 2030, exhibiting a CAGR of 6.9% over the study period.
Flocculants are used to purify water by removing pollutants and improving water quality. Their primary use is at water treatment plants and has high applications in breweries, civil engineering, and others. The market’s growth can be credited to the growing need for water purification.
Fortune Business Insights™ provides this information in its research report, titled “Flocculants Market, 2023-2030”.
Segmentation:
Natural Segment Dominated Due to Utilization of Starch-based Products in the Textile Industry
In terms of type, the market is divided into organic, inorganic, and natural. The natural segment accounted for the major flocculants market share in 2022. The deployment of starch-based flocculants in the textile industry for wastewater treatment, which assists in removing suspended solids and dyes, is fostering the growth of natural segments.
Ability of the Product to Aid the Coagulation of Solids to Impel the Water & Wastewater Segment Expansion
With respect to end-user, the market is segregated into oil & gas, pulp & paper, mining, water & wastewater treatment, and others. The water & wastewater treatment segment registered the largest share in 2022. The product assists in the settling and coagulation of solids and large suspended particles, aiding their separation from water in municipal wastewater treatment. This factor is fueling the water & wastewater segment growth.
Drivers and Restraints:
Surging Number of Industrial Activities Increases the Product Demand, Escalating Market Growth
One of the major factors propelling the flocculants market growth is an increase in the number of industrial activities, bolsters the demand for the product. Wastewater that contains pollutants such as chemicals, solid particles, and heavy metals is generated by several industrial processes. The aggregation and formation of larger particles are enabled by flocculants, which assist in their separation from water.
Despite such growth opportunities, the availability of substitutes decreases the overall product demand, hindering market growth.
Regional Insights:
Asia Pacific Captured the Largest Share Owing to Quick Industrialization
Asia Pacific market for flocculants secured the largest share in 2022. Quick industrialization in India, China, and Southeast Asia has bolstered the need for water treatment, driving regional growth.
Browse Summary: https://www.fortunebusinessinsights.com/flocculants-market-108954
