Top Recent Developments in Water Storage Systems Market

In terms of value, the global water storage systems market size is estimated to be USD 15.6 billion in 2019 and projected to reach USD 20.5 billion by 2024, growing at a CAGR of 5.6% from 2019 to 2024. Rapidly increasing population, water scarcity, ineffective water management, recycling of industrial wastewater, increasing urbanization, stringent regulation for conservation & consumption of water, and falling levels of rainfall are among major drivers for the growth of the water storage systems industry.

By region, the industry is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, Asia Pacific is expected to lead the water storage systems market during the forecast period. This growth is attributed to the scarcity of water, ineffective utilization of water, inefficient recycling of industrial wastewater for reuse, rapidly growing population & urbanization, stringent regulation for water conservation & discharges into the environment, and falling levels of rain, among others.

Major companies operating in the water storage systems market include CST Industries, Inc. (US) and McDermott International Inc. (US), Containment Solutions Inc., (US), DN Tanks (US), Caldwell Tanks (US), Balmoral Tanks Limited (UK), and Synalloy Corporation (US), among others. Moreover, these companies hold a potential share in the water storage systems industry.

Recent Developments

• In May 2018, McDermott International acquired Chicago Bridge & Iron Company N.V. (CB&I), headquartered in Hague, the Netherlands, a leading provider of conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management, and environmental services to customers in the energy and infrastructure market. This business combination with CB&I has transformed McDermott International, Inc. into a top -tier, integrated provider of engineering and construction solutions for the energy industry.
• In April 2019, CST Industries, Inc. partnered with Greatario Engineered Storage Systems, an established and recognized market leader in Ontario, Canada, to design and build bolted steel tanks and covers for liquid storage. With this partnership, CST Industries intends to expand its Aquastore brand of storage tanks in six province territories in the western region of Canada, including British Columbia, Alberta, Saskatchewan, Manitoba, Yukon, Northwest Territories, and Nunavut.
• In January 2018, CST Industries, Inc. announced the expansion of its product portfolio with pre-configured epoxy coated storage tank systems. The company launched Vulcan; a pre-engineered, pre-configured flat panel bolted storage tank line. The storage tank is made available in capacities of 15 cubic meters to 3,000 cubic meters and is designed specifically for the municipal water, wastewater, and fire protection markets.

Don’t miss out on business opportunities in Water Storage Systems Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

5 Recent Development in Activated Carbon Filters Market

The global activated carbon filters market size is estimated at USD 267 Million in 2020 and is projected to reach USD 330 Million by 2025, at a CAGR of 4.4%, between 2020 and 2025. Activated carbon filters are used to remove organic compounds, and free chlorine from water to make it suitable for drinking and reuse in manufacturing processes or to discharge in water bodies. They are used to remove organic elements, such as humic acid and fulvic acid from potable water to prevent the formation of trihalomethanes, a class of carcinogens. They are also used for air/gas filtration in various industries. The filter media, which is used in the filtration process is activated carbon, also known as activated charcoal. Activated carbon is a form of carbon that removes organic compounds from liquids and gases by a process known as “adsorption”. It is extremely porous and thus has a very large surface area available for adsorption.

To know about the assumptions considered for the study download the pdf brochure

The key players in the activated carbon filters market are TIGG LLC (US), Puragen Activated Carbons (US), Cabot corporation (US), Westech Engineering (US), Kuraray Co. Ltd. (Japan), Lenntech B.V. (The Netherlands), Donau Carbon Gmbh (Germany), General Carbon Corporation (US), Sereco SR.L. (Italy), Carbtrol Corp (US). The activated carbon filters market report analyzes the key growth strategies adopted by the leading market players, between 2016 and 2019, which include expansions, new product developments, and collaborations.

Recent Developments

• In January 2020, Kuraray expanded its Mississippi (US) activated carbon plant, which will increase the capacity of the plant by 50 million pounds of granular activated carbon (GAC) annually. GAC is used as filter media in activated carbon filters. This expansion will help the company to cater to the growing needs of activated carbon filters in the North American region.
• In April 2020, Cabot Corporation acquired Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) (China). This acquisition will help the company to strengthen its market position in the APAC region.
• In November 2019, Cabot Corporation has expanded its carbon black production facility at Cilegon, Indonesia, by adding 80,000 metric tons of additional annual production capacity. This expansion is aimed at the company’s global expansion strategy to increase its global footprint.
• In October 2019, Newterra Ltd. (US), a leading supplier of water solutions to industrial, municipal, and environmental remediation sector, acquired TIGG LLC (US). TIGG LLC will cater to its customers by offering a broad range of filtration solutions and extend its distribution network in the North American region with this acquisition.
• In September 2018, Kuraray acquired Calgon Carbons Corporation (US). The company strengthened its position in North America and the global activated carbon filters market with this acquisition.

APAC is estimated to be the largest market for activated carbon filters in 2019. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC. According to the World Bank, APAC is the fastest-growing region in terms of both population and economy. The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. This is expected to increase the demand for activated carbon filters in water pollution treatment and water purification applications.

Don’t miss out on business opportunities in Activated Carbon Filters Market. Speak to our analyst and gain crucial industry insights that will help your business grow.