Emergence of advanced treatment and management technologies and collaboration among participants to drive the market, finds Frost & Sullivan
SANTA CLARA, California, Dec. 18, 2019 /PRNewswire/ -- The growth of the global mining water and wastewater treatment market is strongly driven by the demand for waterless mine and sustainable operations, digitalization of the value chain, and a holistic approach to water management. The $4.73 billion market is expected to reach $7.97 billion by 2023 on the back of high investments by mining companies in solutions that enable sustainability; water, energy, and operational savings; and transparent operation.
"There is high demand for resource recovery systems and smart solutions enabling efficient water management along the entire water cycle," said Paulina Blaszczyk, Industry Analyst for Energy & Environment at Frost & Sullivan. "Highly networked mining supported by strategic partnerships and high-end technologies for closed-loop operations are expected to drive the market forward."
Frost & Sullivan's recent analysis, Growth Opportunities for Sustainable Solutions in the Global Mining Water and Wastewater Treatment Market, Forecast to 2023, analyzes the ways in which the industry is adopting sustainability and digitalization initiatives. It covers the segments of design and engineering services, water and wastewater treatment equipment, acid mine drainage (AMD) treatment equipment, process control and management, treatment chemicals, and operation and maintenance services. The geographic regions covered include Europe & Russia, North America, Latin America, Middle East and Africa, and Asia-Pacific.
For further information on this analysis, please visit: http://frost.ly/3x5
"Latin America held the highest share of the market in 2018 at 32.4%, followed by Asia-Pacific at 27.4% and North America at 21.4%," noted Blaszczyk. "Although the mining industry hugely influences the market in regional markets, growth prospects will vary depending on the business environment, transparency of local legislation, and the state of current technology deployment."
Key growth opportunities for solution providers include:
- Integrating associated technologies supporting innovation and cost efficiency along the entire mining value chain.
- Incorporating renewables to lower operational costs of alternative sources of water such as desalination.
- Introducing new technologies and smart data analysis to enhance sustainable water management.
- Engaging specialists and advanced service providers to enhance operational efficiencies wherever possible.
- Combining zero liquid discharge (ZDT) with advanced equipment and chemicals to achieve higher treatment levels.
- Supporting and investing in local water-related infrastructure.
Growth Opportunities for Sustainable Solutions in the Global Mining Water and Wastewater Treatment Market, Forecast to 2023 is part of Frost & Sullivan's global Environment & Water Growth Partnership Service program.
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Growth Opportunities for Sustainable Solutions in the Global Mining Water and Wastewater Treatment Market, Forecast to 2023
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SOURCE Frost & Sullivan