The water and wastewater treatment in the textile and leather industry earned revenues of $584.5 million in 2012 and will reach $988.2 million in 2020, according to analysis from Frost & Sullivan.
The report, CEO 360 Perspective on the Water and Wastewater Treatment Market in the Global Textile and Leather Industry, says rising demand for textile and leather products is lending momentum to the water and wastewater treatment market in the textile and leather industry.
The growing importance of green practices and focus on reducing overall water footprint encourages the adoption of advanced treatment technologies. In addition, the need for the modernization and upgrade of existing treatment facilities to fulfill strict legislation fuels market revenues.
Developing regions, especially the Asia-Pacific, will witness significant growth in textile and leather production, boosting investments in the water and wastewater treatment, Frost & Sullivan forecasts. However, the difficulty in enforcing environmental standards could curb the true potential of the market. Additionally, water is provided at an extremely affordable price in these parts of the world, so proper water and wastewater treatment is not the key focus.
In developed regions, such as North America and Europe, which are more willing to implement systems related to advanced treatment and water-efficiency, the market share is expected to grow significantly.
Water and wastewater treatment chemicals and systems are among the top technologies and markets to watch in 2020, according to a Frost & Sullivan forecast released last week.