At 5.3% CAGR, Middle East & Africa Metal Scavenging Agents Market is Projected to be Worth US$ 1,800.75 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa metal scavenging agents market was valued at US$ 1,192.97 million in 2022 and is expected to reach US$ 1,800.75 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Growing industrialization & urbanization and increasing investments in water treatment plants are among the critical factors attributed to drive the Middle East & Africa metal scavenging agents market growth.

As industrial activities expand across the world, there is a parallel increase in metal contamination across various environmental media such as water bodies, soil, and air. The contamination arises from diverse sources, including industrial processes, urban runoff, and improper waste disposal practices. Industries such as mining, manufacturing, and chemical processing generate effluents and emissions laden with heavy metals such as lead, mercury, cadmium, and chromium. These metals pose serious environmental pollution and cause health risks, as they can persist in the environment, accumulate in ecosystems, and bioaccumulate in organisms, ultimately entering the food chain and posing risks to human health and wildlife. Metal scavenging agents offer effective solutions for removing heavy metals from wastewater, industrial effluents, and emissions, thereby reducing their environmental impact and protecting ecosystems. Therefore, industries' substantial demand for metal scavengers is driven by the imperative to address environmental metal contamination resulting from industrialization and urbanization, ensuring sustainable environmental management and safeguarding public health and ecological integrity.

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

By type, the Middle East & Africa metal scavenging agents market is segmented into alumina-based, carbon-based, silica-based, resin-based, and others. The others segment held 41.9% share of Middle East & Africa metal scavenging agents market share in 2022, amassing US$ 128.31 million. It is projected to garner US$ 169.81 million by 2030 to register 3.6% CAGR during 2022–2030.

In terms of end-use industry, the Middle East & Africa metal scavenging agents market is segmented into water treatment, food & beverages, pharmaceutical, oil & gas, chemicals, paper & pulp, and others. The paper & pulp segment held 28.5% share of Middle East & Africa metal scavenging agents market share in 2022, amassing US$ 339.62 million. It is projected to garner US$ 537.98 million by 2030 to register 5.9% CAGR during 2022–2030.

Based on country, the Middle East & Africa metal scavenging agents market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 40.2% share of Middle East & Africa metal scavenging agents market in 2022. It was assessed at US$ 479.83 million in 2022 and is likely to hit US$ 687.82 million by 2030, registering a CAGR of 4.6% during 2022–2030.

Key players operating in the Middle East & Africa metal scavenging agents market are BASF SE, Biosynth AG, Biotage AB, Johnson Matthey Plc, Merck KGaA, SiliCycle Inc, and Supra Sciences Pvt Ltd, 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com