At 7.3% CAGR, Asia Pacific Metal Scavenging Agents Market is Projected to be Worth US$ 9,126.33 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific metal scavenging agents market was valued at US$ 5,191.64 million in 2022 and is expected to reach US$ 9,126.33 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Stringent environmental regulation and compliance and increasing investments in water treatment plants are among the critical factors attributed to drive the Asia Pacific metal scavenging agents market growth.

Stringent environmental regulations imposed by governments and regulatory bodies worldwide are crafted in response to the urgent need to address the detrimental environmental and health impacts stemming from heavy metal pollution. Governments establish stringent limits on the permissible concentration of heavy metals in industrial effluents and emissions, aiming to safeguard water quality, soil integrity, and air purity. In adhering to these regulations, industries are compelled to deploy effective solutions such as metal scavenging agents to ensure their discharge levels meet the mandated limits. The pressure for regulatory compliance is immense, as noncompliance can result in severe fines, penalties, and legal repercussions. For instance, Regulation (EC) No 850/2004 on Persistent Organic Pollutants (POPs): This regulation restricts or bans the production, use, and release of certain chelating agents that are classified as POPs due to their persistence, bioaccumulation, and toxicity. Thus, industries, including water treatment, manufacturing, mining, and energy, are driven to invest in pollution control methods such as metal scavenging agents to mitigate environmental risks and liabilities. Moreover, stringent regulations are driven by the imperative to protect ecosystems and human health from the negative effects of heavy metal contamination. Lead, arsenic, mercury, cadmium, and other heavy metals pose significant health hazards, accumulating in the environment and bioaccumulating in food chains. By limiting heavy metal pollution, regulatory efforts aim to safeguard public health, biodiversity, and ecological balance. This imperative drives industries to adopt metal scavenging agents as a crucial component of their pollution control strategies. Furthermore, the stringent regulatory landscape assists manufacturers and suppliers of metal scavenging agents in expanding their business. Therefore, stringent environmental regulations imposed by governments and regulatory bodies across the world escalate the Asia Pacific metal scavenging agents market growth.

On the contrary, high initial investment and lack/unavailability of expertise hampers the growth of Asia Pacific metal scavenging agents market.

By type, the Asia Pacific metal scavenging agents market is segmented into alumina-based, carbon-based, silica-based, resin-based, and others. The others segment held 38.3% share of Asia Pacific metal scavenging agents market share in 2022, amassing US$ 1,987.20 million. It is projected to garner US$ 3,349.20 million by 2030 to register 6.7% CAGR during 2022–2030.

In terms of end-use industry, the Asia Pacific metal scavenging agents market is segmented into water treatment, food & beverages, pharmaceutical, oil & gas, chemicals, paper & pulp, and others. The paper & pulp segment held 29.9% share of Asia Pacific metal scavenging agents market share in 2022, amassing US$ 1,554.09 million. It is projected to garner US$ 2,865.18 million by 2030 to register 7.9% CAGR during 2022–2030.

Based on country, the Asia Pacific metal scavenging agents market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 39.9% share of Asia Pacific metal scavenging agents market in 2022. It was assessed at US$ 2,069.98 million in 2022 and is likely to hit US$ 3,667.52 million by 2030, registering a CAGR of 7.4% during 2022–2030.

Key players operating in the Asia Pacific metal scavenging agents market are BASF SE, Biosynth AG, Biotage AB, Fuji Silysia Chemical Ltd, Johnson Matthey Plc, Merck KGaA, SiliCycle Inc, Supra Sciences Pvt Ltd, and Vizag Chemicals Pvt Ltd, among others.

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