China’s wastewater treatment efforts achieved a market value of $42.1 billion in 2017
According to a new report, China’s wastewater treatment market is growing at a significant clip. The market value exceeded $42.1 billion in 2017 but is now expected to grow to $58.2 billion by the year 2022. This would mark a compound annual growth rate of 6.7%.
Such a development marks a ripe time for wastewater treatment companies, solution providers, technology licensors, chemical suppliers, pump and valve manufacturers, plastic pipe makers and resin producers.
Despite the overall uptick trend, the industrial segment of the wastewater market is expected to decline some due to reduced water consumption resulting from newer technologies. The residential and commercial sector, the largest, will grow as a result of rising treatment rates, growing investment and improving water treatment standards.
The report was conducted by BCC Research, and according to BCC research analyst Jason Chen, agricultural wastewater is particularly of note.
“Today, most of the agricultural wastewater in China is still emitted without any treatment. The agricultural wastewater market is relatively small,” Chen said. “As the government tries to force the large-scale poultry and livestock farms to establish wastewater treatment facilities and increase treatment rate, the market should grow at an 8.3% CAGR during the next five years.”
The report also included that the biomembrane process saw the sharpest growth among technologies at 8.9% CAGR, and China’s wastewater treatment companies treated more than 100 billion metric tons of wastewater throughout 2017.