Growing awareness about the benefits of water treatment and depleting water resources due to increased consumption will drive the market for water treatment business.
According to Ken Research report titled “Vietnam Industrial Water and Waste Water Treatment Market Outlook to 2022 – By Region (North, South and Central) and By Industry (Food Processing, Textile, Chemical, Power, Oil and Gas, Fertilizers and Others)” demand is expected to be highest in the Southern Provinces followed by the Hanoi and other northern provinces which have emerged as heavy manufacturing hub due to its proximity with China.
Industrial water and waste water treatment industry in Vietnam registered a positive five year CAGR in last five years (2012-2017). The growth was mainly driven by rapid industrialization, strict implementation of regulatory norms and scarcity of water promoting the industries to use recycled water. Increased demand for food processing and rise in manufacturing industries has promoted the development of water treatment industry. Major water treatment companies included Van Lang, SEEN Technologies Corporation, Ecoba ENT and GREE. The market is largely dominated by domestic companies or Joint venture of domestic companies with foreign players. Majority of the equipments are imported. New and technologically advanced membranes and filters are also imported as demand is still in the growing phase.
Food Processing Units were the largest users of water treatment facilities in Vietnam. Vietnam Food Processing industry has experienced a positive growth and the trend is expected to continue due to rising demand of processed food. It was followed by Chemical industry. Southern Provinces such as Ho Chi Minh City, Binh Duong have very high volume of installed water treatment facility as they are among the most industrialized provinces in Vietnam. Northern provinces were the second largest contributors in terms of demand creation for water treatment and are far from catching up with Southern Provinces.
Stringent regulations, depleting water resources and degrading water quality, rising water quality, government initiatives promoting water treatment installations, companies opting for advanced water treatment technologies and huge untapped market potential are the key growth drivers in the Vietnam Industrial water and waste water treatment market. Poor implementation of existing regulations in many parts of the country, lack of ETPs craft villages, fragmented market in equipment supply, poor energy efficiency among the waste water treatment facilities, lack of funds, price sensitivity in tenders, and poor investment in R&D are some key restraints in the water treatment business.
For more information on the research report, refer to below link:
The report will help the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years.
The report is useful for equipment, EPC companies and potential entrants and other stakeholders to align their market centric strategies manufacturers, water treatment consumable manufacturers and suppliers, environmental associations.
The report is useful for equipment manufacturers, water treatment consumable manufacturers and suppliers, environmental associations, EPC companies and potential entrants and other stakeholders to align their market centric strategies.
Ankur Gupta, Head Marketing & Communication