At 6.9% CAGR, Europe Metal Scavenging Agents Market is Projected to be Worth US$ 6,292.24 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe metal scavenging agents market was valued at US$ 3,695.00 million in 2022 and is expected to reach US$ 6,292.24 million by 2030, registering a CAGR of 6.9% from 2022 to 2030. Growing industrialization & urbanization and increasing investments in water treatment plants are among the critical factors attributed to drive the Europe metal scavenging agents market growth.

There are growing investments in water treatment infrastructure, especially in developing economies grappling with water scarcity and pollution issues. These investments are driven by the urgent need to address the challenges of inadequate access to clean and safe drinking water and the escalating concerns over water pollution caused by industrial, agricultural, and urban activities. Metal scavenging agents play a pivotal role in this scenario by offering effective solutions for removing heavy metals from wastewater streams, thereby maintaining the safety and quality of drinking water supplies. In many developing economies, industrialization and urbanization have resulted in heightened levels of heavy metal contamination in water sources due to industrial effluents, mining activities, improper waste disposal, and agricultural runoff. The contamination poses significant health risks to communities reliant on these water sources for drinking, cooking, and sanitation purposes. Governments, private sector entities, and international organizations are increasing their investments in water treatment infrastructure to address the challenges of water contamination. Metal scavenging agents, including chelating agents, ion exchange resins, and adsorbents, are integral components of water treatment systems designed to eliminate heavy metals from contaminated water. These agents effectively bind to metal ions, allowing for their removal through filtration, precipitation, or adsorption processes. By incorporating metal scavenging agents into water treatment processes, contaminants such as lead, mercury, arsenic, and cadmium can be efficiently removed, ensuring that treated water meets regulatory standards and is safe for human consumption. Governments and water utilities prioritize investments in infrastructure upgrades and modernization projects. Thus, there is a heightened demand for innovative water treatment solutions, including metal scavenging agents, to improve water quality and ensure public health. The demand for metal scavenging agents in developing economies is amplified by the rising recognition of the importance of sustainable water management practices and the adoption of advanced technologies to address water-related challenges. Therefore, growing investments in water treatment infrastructure, especially in developing economies grappling with water scarcity and pollution issues, are expected to present substantial opportunities for the Europe metal scavenging agents market during the forecast period.

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

By type, the Europe metal scavenging agents market is segmented into alumina-based, carbon-based, silica-based, resin-based, and others. The others segment held 39.1% share of Europe metal scavenging agents market share in 2022, amassing US$ 1,443.73 million. It is projected to garner US$ 2,353.80 million by 2030 to register 6.3% CAGR during 2022–2030.

In terms of end-use industry, the Europe metal scavenging agents market is segmented into water treatment, food & beverages, pharmaceutical, oil & gas, chemicals, paper & pulp, and others. The paper & pulp segment held 30.1% share of Europe metal scavenging agents market share in 2022, amassing US$ 1,114.01 million. It is projected to garner US$ 1,991.85 million by 2030 to register 7.5% CAGR during 2022–2030.

Based on country, the Europe metal scavenging agents market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 35.3% share of Europe metal scavenging agents market in 2022. It was assessed at US$ 1,304.66 million in 2022 and is likely to hit US$ 2,056.09 million by 2030, registering a CAGR of 5.9% during 2022–2030.

Key players operating in the Europe metal scavenging agents market are BASF SE, Biosynth AG, Biotage AB, Fuji Silysia Chemical Ltd, Johnson Matthey Plc, Merck KGaA, PhosphonicS Ltd, and SiliCycle Inc, and among others.

• In December 2023: ITM Isotope Technologies Munich signed a licensing agreement with Merck KGaA for the clinical development and commercialization of radiolabeled folate derivatives for therapeutic and diagnostic applications against folate-receptor-positive malignant tumors. The exclusive license covers all folate-receptor-positive malignant tumors. ITM is developing ITM-52, a radiopharmaceutical candidate with a folate receptor, targeting moiety.

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