Frost & Sullivan announced last week the availability of new analysis that shows that the rising demand for textile and leather products is creating momentum for the water and wastewater treatment market in the global textile and leather industry. The growing importance of green practices and focus on reducing overall water footprint is encouraging the adoption of advanced treatment technologies, while the need for modernization and upgrade of existing treatment facilities to comply with strict legislations is fueling market revenues, Frost & Sullivan says.
The new analysis from Frost & Sullivan is titled “CEO 360 Perspective on the Water and Wastewater Treatment Market in the Global Textile and Leather Industry” and shows that the market earned revenues of $584.5 million in 2012, which is estimated to reach $988.2 million in 2020.
Developing regions, especially Asia-Pacific, will experience significant growth in textile and leather production, which will boost investments in water and wastewater treatment. However, the difficulty in enforcing environmental standards could restrain the true potential of the market, Frost & Sullivan says. In addition, water is provided at a very low price in these parts of the world, and thus proper water and wastewater treatment is not the key focus. Furthermore, Frost & Sullivan Environmental Industry Analyst Paulina Blaszczyk says that “textile and leather manufacturers in developing regions prefer traditional treatment technologies such as filtration and chemical disinfection over advanced solutions like membrane filtration, slowing overall market development.”
In developed regions, such as North America and Europe, which are more willing to implement solutions related to advanced treatment and water-efficiency, the market share is expected to grow significantly, Frost & Sullivan says.
Blaszczyk adds that providing innovative, customized and cost-effective treatment solutions that meet quality standards and reduce energy and chemical consumption will be crucial to sustain growth in this market.
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