The Brine Concentration Technology (BCT) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Brine Concentration Technology (BCT) Global Market Report 2024, The brine concentration technology (bct) market size has grown strongly in recent years. It will grow from $13.98 billion in 2023 to $14.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to food preservation methods, salt extraction and production, traditional methods for salting and pickling, marine and aquaculture industry growth, historical importance in chemical industry.
The brine concentration technology (bct) market size is expected to see strong growth in the next few years. It will grow to $18.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to shift towards sustainable solutions, globalization and market expansion, increase in aquaculture and seafood industry, focus on resource optimization, shift towards natural preservation. Major trends in the forecast period include hybrid technologies and processes, circular economy approach, focus on food quality and nutrient retention, customization and tailored solutions, carbon footprint reduction.
An increase in demand for energy is expected to propel the growth of the brine concentration technology (BCT) market going forward. BCT can be used to concentrate brine streams from desalination plants, which can then be used to generate electricity using a technology called pressure retarded osmosis (PRO). For instance, in April 2023, according to a report published by the Energy Information Administration, a US-based government agency, the United States is projected to experience a growth in energy consumption across all forms, with an anticipated increase ranging from 0% to 15% from 2022 to 2050. Specifically, within the industrial sector, energy consumption is expected to rise by approximately 5% to 32% during the same period. In 2022, households in the U.S. residential sector purchased 5.1 quadrillion British thermal units (quads) of electricity, and residential consumption of purchased electricity is forecasted to increase by approximately 14% to 22% between 2022 and 2050 in all scenarios, reaching a range of 5.9 quads to 6.3 quads. Therefore, increased demand for energy is driving the growth of the brine concentration technology (BCT) market.
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The brine concentration technology (bct) market covered in this report is segmented –
1) By Technology: High Energy Reverse Osmosis, Mechanical Vapor Compression, Closed Circuit Desalination, Vertical Tube Falling Film, Other Technologies
2) By Type: Calcium Chloride, Sodium Chloride, Zinc Calcium Bromide, Cesium Formate, Potassium Chloride, Other Types
3) By End User: Coal To Chemicals, Food And Beverage, Mining, Oil And Gas, Pulp And Paper, Steel, Power, Textile, Refining And Petrochemicals, Other End Users
Advancement in technologies is a key trend gaining popularity in the brine concentration technology (BCT) market. Companies operating in the brine concentration technology (BCT) market are adopting new technologies to sustain their position in the market. For instance, in April 2022, Veolia Water Technologies, a France-based water services company, launched the Barrel, a device with plug-and-play reverse osmosis (RO) technology. The Barrel is a multi-RO element vessel that is made to be a plug-and-play system and is meant to handle the demands and challenges of desalination while generating fresh water that complies with all water quality standards. In addition, the Barrel’s distinctive design drastically reduces the number of high-pressure piping connections to just two: the seawater inlet and brine outflow. This design element reduces dangers on-site during the maintenance and operating stages and makes it safer for personnel.
The brine concentration technology (bct) market report table of contents includes:
1. Executive Summary
2.Brine Concentration Technology (BCT) Market Characteristics
3. Brine Concentration Technology (BCT) Market Trends And Strategies
4.Brine Concentration Technology (BCT) market analysis
5.Brine Concentration Technology (BCT) Market Size And Growth
6. Brine Concentration Technology (BCT) Segmentation
7. Brine Concentration Technology (BCT) Regional And Country Analysis
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27.Brine Concentration Technology (BCT) Competitive Landscape And Company Profiles
28. Brine Concentration Technology (BCT) Key Mergers And Acquisitions
29.Brine Concentration Technology (BCT) Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Veolia Environnement S.A.
- Dow Inc.
- DuPont de Nemours Inc.
- SUEZ Group
- Tetra Technologies Inc
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