|Status : Published||Published On : Jan, 2023||Report Code : VRCH2020||Industry : Chemicals & Materials||Available Format :||Page : 180|
The global water treatment chemicals market is estimated to be USD 30.9 billion in 2022 and is predicted to reach USD 38.5 billion by 2030, growing at a CAGR of 4.1% during the forecast period (2023–2030). The growth of this market is attributed to the increasing contamination occurring in surface and groundwater pollution. The increasing world’s population is attributed to people searching for alternative sources of water such as rivers, streams, and lakes commonly known as surface water. Moreover, of all the consumable water in the world, approximately 97% of it comes from surface water. In order to make it free from pollutants scientists are rampantly innovating and developing methods in order to make the water fit for human consumption.
Water is the most essential constituent in our day-to-day life and pure water is specifically crucial for the overall well-being of the community. Water is a universal solvent however; solids, sand, clay, dust, and rust are not soluble in water. Furthermore, these particles remain undissolved in water, resulting in cloudiness, and are particularly known as total suspended solids (TSS). Additionally, water treatment is done in order to decrease the TSS levels as per the demand of the consumer which is done with the help of water treatment chemicals thereby extending the overall growth of the global water treatment chemicals market.
Insight by Type
Based on type, the global water treatment chemicals are categorized into biocides & disinfectants, pH adjusters & softeners, scale inhibitors & dispersants, flocculants, coagulants, corrosion inhibitors, and others. Amongst these segments, corrosion inhibitors are expected to witness the highest CAGR during the forecast period. Technological advancement in the water treatment industry and utilization of treatment equipment is expanding which is further escalating the growth of corrosion inhibitors globally.
Insight by End Use
On the basis of end-use, the global water treatment equipment market is divided into municipal water and industrial water. Further industrial water is sub-segmented into pulp & paper, food & beverages, refineries, oil & gas, power generation, sugar, metal & mining, and others. Amongst these segments, industrial water is expected to witness the highest CAGR during the forecast period owing to rapid demand for water treatment chemicals from the power generation segment. Furthermore, increasing per capita consumption of power has enhanced the demand for electricity across the globe which further enhances the demand for water treatment chemicals in the power industry.
Increasing investment in the industrial sector along with extensive demand from municipal industrial wastewater treatment are the key factors driving the growth of the global water treatment chemicals market. Increasing industrial growth and activities due to the rapid expansion of the global population are thereby accentuating the need for water treatment chemicals in order to make the water fit for human consumption. Moreover, stringent regulations imposed by the government authorities towards total suspension of solid levels of the water and reuse of water thereby escalating the growth of the global water treatment chemicals market.
However, the occurrence of alternative water treatment methods are key factor that acts as a hurdle for the growth of the global water treatment chemicals market.
Geographically, North America was the largest revenue contributor in the water treatment chemicals market in 2019. The growth of the water treatment chemicals market in this region is attributed to increasing measures and regulations undertaken by the government authorities towards the reuse and recycling of wastewater. Furthermore, water treatment chemicals are gaining extensive popularity in oil & gas and mining industries in the region. Water treatment chemicals in oil & gas industries is used for cleaning contaminated wastewater and are considered to be the most effective method for cleaning water, maintaining the purity of water while optimizing performance and thus reducing the cost of the service providers.
Moreover, Asia-Pacific is expected to witness substantial growth in the water treatment chemicals market due to the enhanced living standards of the population that demands high-quality water in ample amounts. Moreover, government authorities in the region are amending stringent regulations in order to protect the environment further aiming at making water free from pollutants and contamination, and are investing heavily towards the attainment of this objective. Furthermore, rapid urbanization and industrialization in countries such as India, China, and Japan are the key factors bolstering the growth of the water treatment chemicals market in the region.
Key players operating in the water treatment chemicals market are emphasizing their efforts upon strategic acquisitions in order to strengthen capabilities of research & development that support them in providing innovative solutions to the users and thus gain competitive advantage.
Some of the major players operating the global water treatment chemicals market include Baker Hughes Incorporated, SAMCO, Chembond Chemicals Limited, The Dow Chemical Company, Akzo Nobel N.V., Arkema, Solenis, Kemira, BASF SE, Ecolab Inc, SNF Group, SUEZ, VASU Chemicals, and Johnson Matthey.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
Source: VynZ Research
Source: VynZ Research