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(IT-NEWSWIRE.COM, February 15, 2021 ) According to MarketsandMarkets, the water hardness test strip market is estimated to be valued at USD 56.5 billion in 2020 and is projected to reach USD 70.2 billion by 2025, recording a CAGR of 4.4 %, in terms of value.
The rise in number of industrial establishments, surge in rate of urbanization have been key factors that drive the overall value sales growth of water hardness test strip market. Asia Pacific segment is going to dominate the market, due to its high production of processed food, whereas the South American region is growing fastest owing to new technologies and increase in the export of food and beverages.
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Drivers: Growing demand for laboratory testing of water in civil bodies
With the growing stringency of regulations pertaining to the hardness of water, the water hardness test strips market is growing at a significant rate. Municipal bodies and civic societies are usually slow acceptors of new technologies, but test strips being economical and cost-effective products for water hardness testing, are highly accepted by the civic bodies in different regions. In addition to this, stringent regulations by governments have played a major role in the adoption of water hardness test strips by civil and municipal bodies for quality testing of water.
In the past 20 years, there has been a notable increase in the allocation of government expenditures on water testing development in many countries. Organisation for Economic Co-operation and Development (OECD) listed countries spend over USD 200 billion in investments necessary to rehabilitate existing infrastructure, comply with environmental and health regulations, and maintain the required water quality and supply. However, the growing demand from consumers for good quality water with enriched vitamins and minerals enables civil and municipal bodies to adopt the growing technology for laboratory testing of water. To meet regulatory standards, civic bodies are investing significantly to upgrade their testing technology to meet water quality norms. This, in turn, is projected to drive the growth of the water hardness test strips market across the globe.
Restraints: Lack of water quality control systems
In several developing regions, water quality control systems lack organization, sophistication, and technology for water hardness testing. The infrastructure of water quality control laboratories in many developing countries is likely to be scarce due to limited resources, limited technology, and poor management. There are numerous issues related to water safety, such as lack of institutional coordination, outdated technology, less expertise for the execution of regulations at low levels, and lack of updated standards; all these have been constraining the market for water hardness test strips.
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Opportunities: Increasing stringent regulations for drinking water
Due to growing concerns among consumers demanding fresh and pure-quality water enriched with minerals and vitamins, water hardness test strips will grow significantly in the coming years. The Environmental Protection Agency (EPA) has developed the National Primary Drinking Water Regulations with enforceable standards on the quantity of contaminants allowed in drinking water. These standards protect consumers from contaminants that may pose a risk to human health. All public water providers (municipal and civil bodies) must comply with these requirements while supplying water to their consumers.
Challenges: Demand for innovative testing strips/technology
The technological focus from conventional water hardness testing methods has been shifting toward rapid testing methods, as they are efficient and time-saving and generate results within a few hours. Rapid testing methods ensure the analysis of a larger sample size and thereby reduce the time required for sample testing. Advanced technologies ensure the detection of microbial as well as chemical contaminants present in the samples.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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MarketsandMarkets™ INC.
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USA : 1-888-600-6441
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
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