Global Water Treatment Chemicals Market Key Insights
During the forecast period of 2023-2035, the global water treatment chemicals market is expected to reach an estimated value of ~USD 70 billion by 2035, by expanding at a CAGR of ~3%. The market further generated a revenue of ~USD 35 billion in the year 2022. Major key factors propelling the growth of the water treatment chemicals market worldwide are the increasing demand for chemically treated water for various municipal and industrial applications along with rising awareness of clean and safe water for sustainability and protection of the environment.
Market Definition of Water Treatment Chemicals
The process of extracting the impurities from water and wastewater to make it fit for use in industrial and domestic purposes is known as water treatment. Water treatment processes include four basic steps which include boiler water treatment, water purification, cooling water treatment, and wastewater effluent treatment. The whole process eliminates suspended solids, fungi, viruses, algae, and harmful bacteria using chemicals such as algaecides, muriatic acid, chlorine, chlorine dioxide, and soda ash.
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Global Water Treatment Chemicals Market: Growth Drivers
The growth of the global water treatment chemicals market can majorly be attributed to the growing demand for processed water from various industries such as sugar and ethanol, fertilizers, geothermal power generation, petrochemical manufacturing, refineries, and others. Further, the high percentage of people living with no access to safe water services and rising deaths owing to water-borne diseases such as otitis externa, norovirus infection, giardiasis, and cryptosporidiosis are predicted to generate the demand for water treatment chemicals in the assessment period. A report released by World Health Organization (WHO) and UNICEF stated that around 2.2 billion people around the world do not have safely managed drinking services.
The global water treatment chemicals market is also estimated to grow majorly on account of the following:
• Increasing water pollution level
• Rising awareness about clean and safe water
• A growing level of wastewater
• Government regulations towards providing safe water
• High demand for water quality
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Global Water Treatment Chemicals Market: Restraining Factor
High initial costs in setting up a waste water treatment plant, varying costs of chemicals, and low awareness among the people regarding the importance of safe quality drinking water are some of the factors expected to be the major hindrance to the growth of the global water treatment chemicals market during the forecast period.
Global Water Treatment Chemicals Market Segmentation
• By Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, and Chelating Agents)
• By End User (Oil & Gas, Power, Municipal, Pulp & Paper, Chemical Manufacturing, and Others)
Out of these, the municipal segment is attributed to garner the highest segment share by 2035. The municipal segment uses water treatment chemicals extensively for providing treated water to the areas of districts and towns. As per the United States Environmental Protection Agency, there are almost 16,000 municipal wastewater treatment facilities operating in the United Nations that cater to almost 75% of the American population. Further, the rising importance of municipalities for water supply, and improving wastewater facilities, has provided an impetus for the municipal segment to grow during the forecast period.
• By Region
The Asia Pacific water treatment chemicals market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions on the back of rapid urbanization and industrialization. United Nations released data that stated that around 50% of the population of Asia live in urban areas in 2018. Also, this number is further estimated to grow to 416 million urban dwellers in India and 255 million in China by 2050. Further, owing to rapid industrialization, the demand for water treatment chemicals is expected to rise as the expansion of the industries such as power, oil & gas, chemical, and others require a high amount of treated water for varied purposes.
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The market research report on global water treatment chemicals also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Water Treatment Chemicals Market
Some of the key players of the global water treatment chemicals market are BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ, The Dow Chemical Company, Snf Floerger, Solenis LLC, Suez S.A., Lonza Group and others.
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