Demand for industrial vacuum evaporation systems buoyed by wastewater management: study
Over the years, wastewater treatment and management has acquired precedence
An ESOMAR-certified market research firm has recently published a report on the global industrial vacuum evaporation systems market, explicating on the vital dynamics responsible for shaping growth across the 2020-2030 assessment period. According to the study, the market is likely to grow at 6.7% CAGR through 2030, with growing focus on wastewater management inducing momentum.
Over the years, wastewater treatment and management has acquired precedence, owing to growing problems of untreated effluent discharge across freshwater bodies. With more than 80% of wastewater being discharged without treatment, governments have tightened regulations to ensure compliance from chemical plants.
As industries look to leverage effective water treatment solutions, investments in industrial vacuum evaporation systems are expanding, with prominent end-users preferring thermal evaporators over other types.
The COVID-19 pandemic has induced unprecedented impact across the global industrial manufacturing sector, severely disrupting supply chains in the wake of declining production cycles due to government imposed lockdowns. Consequently, GDP levels have nosedived, inducing economic troughs across all countries.
A deceleration of approximately -6% has been projected for the industrial vacuum evaporation systems market through 2020. Furthermore, the UN Conference on Trade & Development estimates the global FDI levels to shrink by 5-15% due to a contraction of the manufacturing sector. Hence, recovery prospects appear quite challenging.
However, growth prospects are expected to heighten from 2021, with countries expected to ease lockdown restrictions, prompting industries to resume operations. Manufacturers have made it their top priority to secure their supply chains from further recessionary shocks by establishing strong distribution networks to avoid supply crunches.