LONDON--(EON: Enhanced Online News)--The global water and wastewater management market for the mining sector is expected to grow at a CAGR of around 5% during the forecast period, according to Technavio’s latest market research.
“However, the environmental regulations and policies are extremely stringent in the region and are major drivers for the growth of the water and waste treatment equipment”
In this market research report, Technavio covers the market outlook and growth prospects of the global water and wastewater management market for the mining sector for 2017-2021. The market is further categorized into two product segments, consisting of water treatment and wastewater treatment, of which the water treatment segment accounted for over 51% of the market during 2016.
“Water is a vital component in the mining industry since the quality of the water has an impact on the quality and quantity of the metal recovered from the mining operation. Moreover, it is mandatory for mining companies to ensure that adequate and good quality water is discharged back into the water streams, and for this, the water has to be treated. These factors are driving the demand and installation of water and wastewater treatment equipment in the mining industry,” says Thanikachalam Chandrasekaran, a lead water and waste management research expert from Technavio.
Technavio’s energy research analysts segment the global water and wastewater management market for the mining sector market into the following regions:
In 2016, with a market share of close to 39%, the Americas emerged as the market leader in the market, followed by EMEA with close to 31% and APAC with 30%.
Americas: largest market for water and wastewater management
The Americas accounted for the largest share of the water and wastewater management market for the mining sector. The growth of this region is attributed to extensive regulatory systems that are governing the mining activities. These systems were set up because of the strict environmental regulations imposed for disposal of wastewater. The use of water and wastewater treatment segments are expected to grow considerably in the region during the forecast period.
The growth of the manufacturing industry in the Americas, especially in the US, has stimulated the demand for precious and base metals. This has led to the exploration and expansion of the mining industry in the region. The world’s largest lithium reserves are found in South American countries of Chile, Argentina, and Bolivia.
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EMEA: stringent environmental regulations to boost market growth
Europe is rich in mineral resources such as feldspar and gypsum; however, it lacks metallic minerals such as tin, copper, and zinc; therefore, imports them. The EU is working toward reducing Europe's dependency on foreign bodies for imported metals. For instance, Portugal has relaxed its labor laws against mining companies that operate 24/7. This will help these companies to increase their profit margins.
“However, the environmental regulations and policies are extremely stringent in the region and are major drivers for the growth of the water and waste treatment equipment,” says Thanikachalam.
There are immense opportunities in mining water and wastewater management in MEA. The region has always attracted mining companies due to its high quality and volume of mineral ore. MEA retains more than 30% of the global metal and minerals reserve. With such huge reserves and large tracts of Africa remaining unexploited, the outlook for the mining industry in the continent is promising.
APAC: favorable regulatory environment to boost growth of the mining industry
APAC has huge potential in sectors such as infrastructure development, which, in turn, will drive the demand for minerals. The production in these companies will increase water consumption and waste; and both need to be treated for reuse before being discharged.
The region is expected to be the fastest growing segment due to the favorable regulatory environment in most countries and the growing mining operations in many developing countries. Private and foreign investments have also been on the rise in the recent years. The rise in mining activity will likely have a positive impact on the water and wastewater management market in the region.
The top vendors in the market as highlighted in this market research analysis are:
- The Dow Chemical Company
- GE Water & Process Technologies
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