|Status : Published||Published On : Jan, 2021||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 2020 and is predicted to reach USD 38.5 billion by 2027, growing at a CAGR of 4.1% during the forecast period (2021–2027). The growth of this market is attributed towards the increasing contamination occurring in surface and ground water pollution. Increasing world’s population is attributing towards people searching for alternative sources of water such as rivers, streams, lakes commonly known 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 remains 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 overall growth of global water treatment chemicals market.
Insight by Type
Based upon type, the global water treatment chemicals is 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 highest CAGR during the forecast period. Technological advancement in the water treatment industry and utilization of treatment equipment is expanding that 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 highest CAGR of during the forecast period owing to rapid demand for water treatment chemicals from 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 power industry.
Increasing investment in industrial sector along with extensive demand from municipal industrial wastewater treatment are the key factors driving the growth of global water treatment chemicals market. Increasing industrial growth and activities due to rapid expansion of 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 level of the water and reuse of water is thereby escalating the growth of global water treatment chemicals market.
However, occurrence of alternative water treatment methods are key factor that acts as a hurdle for the growth of global water treatment chemicals market.
Geographically, North America was the largest revenue contributor in water treatment chemicals market in 2019. The growth of water treatment chemicals market in this region is attributed towards increasing measures and regulations undertaken by the government authorities towards reuse and recycle 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 is considered to be ost effective method for cleaning water, maintains purity of water with optimizing performance and thus reduce cost of the service providers.
Moreover, Asia-Pacific is expected to witness a substantial growth in the water treatment chemicals market due to enhanced living standards of the population that demands for high-quality water and in ample amount. Moreover, government authorities in the region are amending stringent regulations in order to protect the environment that further aims at making water free from pollutants and contamination and are investing heavily towards attainment of this objective. Furthermore, rapid urbanization and industrialization in the countries such as India, China and Japan are the key factors bolstering the growth of 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 supports 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 the industry experts. The key profiles approached within the industry includes, 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 behaviour.
Source: VynZ Research
Source: VynZ Research