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Pharmacy benefit management market
Report Overview
The global water hardness removal market size was USD 1727.9 million in 2022. As per our research, the market is expected to reach USD 2919.2 million in 2031, exhibiting a CAGR of 6.0% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the water hardness removal market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Water hardness removal is a process that removes calcium, magnesium, and certain other metal cations from hard water. The process is called ion exchange. Since no soap is wasted to remove calcium ions, the resulting soft water requires less soap for the same cleaning work. Soft water can also extend the life of the pipe by reducing or eliminating scale build-up in pipes and fittings. Water softening is typically achieved using lime softening or ion exchange resins, but is increasingly being achieved using nanofiltration or reverse osmosis membranes.
COVID-19 Impact: Reduced Industrial Activity Hampered the Market Demand
The market for water hardness removal had experienced a downfall in market demand due to the adverse impact of the COVID-19 pandemic. Many industrial sectors, such as manufacturing and hospitality, experienced reduced activity or shutdowns during the pandemic. This led to decreased demand for water softeners and related products in these sectors. In addition to this, the pandemic disrupted global supply chains that affected the production and distribution of water softening systems and related components. Also, delays in the supply of equipment and materials led to project delays and increased costs. However, post-pandemic, the market is anticipated to recover and gain higher demand for the system due to the thriving demand for softened water across various industries.
Latest Trends
"Integration of Filtration and Softening Technology Magnify the Market Outlook"
The market for water hardness removal has been expanding over the past few years. Several growth factors and market trends are contributing to enhancing the market demand. For instance, the trend of integrating water softening and filtration in a single system is gaining momentum in the water treatment industry. These systems provide a comprehensive solution, efficiently removing hardness minerals and a range of contaminants in water. They save space, reduce costs, and simplify maintenance while delivering improved water quality. With a focus on convenience, user-friendly operation, and environmental sustainability, integrated systems cater to the growing demand for holistic water treatment solutions. As a result, the market is likely to inflate the outlook of this market during this projection timeframe.
Segmentation
By Type Analysis
According to type, the market can be bifurcated into Salt-free Water Hardness Removal, Salt-based Water Hardness Removal, and Others.
By Application Analysis
Based on application, the market can be divided into Industry, Commerce, and Resident.
Driving Factors
"Increasing Demand from Community and Industrial Sectors Raise Market Growth"
One of the primary driving factors of the market is the growing demand from the community and industrial sectors. As the population grows and urbanization continues, the demand for clean and softened water increases. To meet the water quality needs of their residents, municipalities are increasingly investing in water softening solutions. Also, increasing industrial activity, particularly in developing regions, has led to a growing demand for water hardness removal systems.
"Growing Awareness of Softened Water Benefits Among Consumers Stretch Market Development "
Another significant driving factor of the water hardness removal market growth is the increasing awareness about the benefits of softened water among consumers. Softened water can extend the lifespan of appliances, improve the efficiency of water heaters, reduce soap and detergent consumption, and prevent scale buildup in plumbing. As this awareness grows, more households are investing in water softeners to enjoy these benefits, particularly in areas with hard water. As a result, these factors are attributed to fuel the growth of this market.
Restraining Factors
"High Initial Costs Can Curb Market Extension"
Despite market growth, the market can be hampered due to the high cost of this system. The installation of water softening systems, whether for residential or industrial use, can involve significant upfront costs. This initial investment can be a deterrent for some consumers and businesses, especially in regions with limited financial resources, and may restrict market expansion.
Regional Insights
"Asia Pacific Leads the Market due to Extensive Demand for Softened Water Across Several Sectors"
As per market research, the Asia Pacific region is projected to lead to market with the largest water hardness removal market shares in the global marketplace. It is expected to maintain its dominant position in the coming years as well due to the rising demand for water treatment across residential, commercial, and industrial sectors. Furthermore, the Asia Pacific region has experienced significant population growth and rapid urbanization which can also lead to an increased need for water treatment solutions. Therefore, these factors are expected to continue fostering market expansion over this forecast.
"Key Companies Heavily Invest in R and D to Create Advanced Technologically Water Treatment Products"
Key players in the water hardness removal market maintain their competitive edge through innovation, product quality, and a focus on environmental sustainability. They customize solutions to meet local needs, provide excellent customer support, and expand their global presence. Their strong brands and compliance with regulations build trust, while education and awareness campaigns boost demand. Moreover, efficiency in production and strategic partnerships are essential strategies.
LIST OF TOP WATER HARDNESS REMOVAL COMPANIES
- Ecowater (Marmon) (U.S.)
- GE Appliances (U.S.)
- Aquasana (U.S.)
- Eureka Forbes (India)
- 3M (U.S.)
- Litree (China)
- Culligan (U.S.)
- Kinetico (U.S.)
- ENMET (U.S.)
Report Coverage
This report defines the water hardness removal market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1727.9 Billion in 2022 |
Market Size Value By |
US$ 2919.2 Billion by 2031 |
Growth Rate |
CAGR of 6% from 2022 to 2031 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global water hardness removal market expected to touch by 2031?
The global water hardness removal market is expected to touch USD 2919.2 million by 2031.
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What CAGR is the water hardness removal market expected to exhibit during 2031?
The water hardness removal market is expected to exhibit a CAGR of 6.0% over 2031.
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What are the key driving factors of the market?
The increasing demand from community and industrial sectors and growing awareness about softened water benefits among consumers are the key driving factors of the market.
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What are the key players in the market?
The key players in the market include Ecowater (Marmon), GE Appliances, Aquasana, Eureka Forbes, 3M, Litree, Robert B. Hill, Culligan, Kinetico, ENMET, and Nuvo H are top players in the market.