Textile, leather industry growth to boost water & wastewater treatment market
The water and wastewater treatment market in the global textile and leather industry earned $584.5 million in revenue in 2012 and will continue to grow steadily over the next few years, according to a new report by Frost and Sullivan.
Driven by rising demand for textile and leather products, the industry is also facing an increased need for treatment of wastewater, boosting the market to a predicted total revenue of $988.2 million by 2020. On the one hand, the textile and leather industry is looking to reduce its water footprint by adopting innovative and advanced water management and wastewater treatment technologies, while on the other hand, compliance with stricter regulations and industry standards requires businesses to invest in upgrading and modernization of its wastewater treatment equipment, the report stated.
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Textile and leather industry growth in developing regions, such as Asia Pacific, creates big opportunities for development but countries in this region have difficulties in enforcing environmental standards, which may impede the market from realizing its full potential.
According to Paulina Blaszczyk of Frost & Sullivan Environmental Industry, the market is currently very fragmented and this is a major obstacle for implementation of integrated water management practices. It is likely that over the coming years the end-user market will go through a process of consolidation that will help large manufacturers command a bigger share of the market and widen the scope for the use of water-efficient treatment technologies, Blaszczyk added.