The exponential growth of the marine industry is indirectly influencing the ballast water treatment market. Marine trade is an economical option over trade via air cargo, thus, has increased multiple times in volume as international trade continues to proliferate. Ballast water is essential for cargo ships for stability and maneuverability when ships are not carrying heavy enough cargo, or when stability in the vessel is required due to rough seas.
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Government mandates to install ships with ballast water treatment systems is another factor fuelling the ballast water treatment market. In February 2004, The International Maritime Organization brought out a convention to keep a check on ballast and sediments of ships and to manage them as well. The ratification of the convention mandates ships to be fitted with ballast water treatment system and a solid ballast water management plan to maintain ecological balance of marine environments.
Apart from this, rising incidence of diseases associated with aquatic species is also leading to the installation of ballast water treatment systems in ships. This is aquatic species if they invade the blast of the ship carry the risk of germs getting into the main vessel, which translates into heavy cleaning and sanitizing cost. To avoid this, ballast water treatment systems are installed thereby fuelling the ballast water treatment market.
On the flip side, issues pertaining to storage and release of disinfected byproducts that are produced after water treatment is a challenge to the growth of ballast water treatment market. In addition, rules and regulations regarding ballast water treatment laid down by governments that are continuously evolving also challenges the growth of ballast water treatment market.
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Home to some large ports, Asia Pacific stands as prominent region
Asia Pacific is one of the prominent regions in the ballast water treatment market. The region has some large ports and harbors that handle very large volume of marine cargo for commodities such as automotive components, oil and chemicals, and electronic components that contribute to the growth of the shipping and ancillary industries.