Global textile industry waste management is expected to drive nearly at a CAGR of 11.5% and is projected to reach approximately USD 3.0 billion by 2024 – PMR
Global Textile Industry Waste Management Market Outlook
Market Overview
Textile industry is one of the greatest and oldest industries in the world’s economy since the former days. Since it has the largest number of employees therefore it is also known as labor intensive industry. Textile industry is broadly divided into two parts. First part is unorganized sector which include handloom, handicraft and sericulture, etc. Second part is organized sector which include spinning, garments, etc. It preoccupies a huge amount of water thus producing substantial amount of waste water. For many countries, textile industry is very important when it comes to employment rates, GDP etc.
It is seen that the key vendors of textile industry are spending more on research and development activities to innovate different products and increase safety. By capitalizing the low cost resources this industry provides break to lower income countries for export diversification by meeting the buyers demand.
Global textile industry waste management market is mainly driven by the factors such as improvement in membrane technologies; growing demand for nanofiltration procedures and advancement in waste management solutions. Wastewater treatment using membrane reactors and desalination by RO are some technologies that are already being implemented in industries at large scale.
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Market Segmentation
By Waste
Slid waste management
Water waste management
Gaseous waste management
By Solution
Source reduction solutions
Landfills solutions
Recycling solutions
Incineration solutions
By Application
Water purifier
Wastewater treatment equipment
By Region
Key Trends and Growth Drivers
As we know that the textile industry is said to be the largest contributor in the global economy, there are any factors that propel the growth of this market. They are:
The control on pollution discharge is one of the factor driving the growth of the global textile industry waste management market
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Augmenting popularity of green textile mill all over the world to manage waste is swelling the demand for waste water management solutions
Growth in domestic demand for textile especially in Asia-Pacific region.
Market Restraints
Notwithstanding the fact that there are also some factors which curtail the growth of market. They are:
Collision of concentrated water on water treating equipment leads to degrade the life of treatment equipment
High cost of wastewater treatment equipment is one of the key factor which limits the demand for treatment equipment
Still there is scope for improvement in terms of energy, cost and expertise.
Expert Analysis
Concluding Remarks
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