Big Market Research, has added a ‘World Water Treatment Chemicals Market’ report to help companies gain a deeper knowledge about the business performance and environment from 2015 to 2022. The research is conducted considering the opinion of various industry experts and research outlines some of the major driving forces, restraining factors and growth opportunities for the water treatment chemicals market. Statistics show that the sector will generate about $31.7 billion by 2022 registering a CAGR of 4.5% from 2016 to 2022. Research shows that corrosion inhibitors had occupied approximately two ninth of the total industry in 2015 and will continue to demonstrate an exponential growth in the next five to six years. Research analysts assessing the size and share of the sector further highlight that North America and Europe accounted for almost half of the industry share in the same year.
Concerns over contaminated water and discharge of toxic waste from the factories and municipalities are on the rise. Besides this, stringent government policies have played a vital role in fueling the growth of the water treatment chemicals market worldwide. According to researchers, other factors that have enabled the industry to flourish are growing dependency on water supply by industries and increasing awareness over purifying domestic water. However, adoption of advanced treatment processes including the application of UV radiation as well as membrane technology have obstructed the growth of the water treatment chemicals market to a greater extent.
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The water treatment chemicals used in industries occupied a greater share of about 44% in 2015.The sector is projected to attract many potential investors and lead throughout the assessment period. Moreover, in the industrial segment, business verticals such as power generation will take the lead, when it comes to the consumption of water treatment chemicals due to an increased usage of water. Dependency on water has significantly increased to remove, transport as well as process the fossil fuels. Furthermore, the application particularly in the refinery segment is anticipated to grow faster from 2015 to 2022.
Key finding in the report reveals that water treatment chemicals market in Asia -Pacific will gain more traction during the forecast period. Exploratory research techniques evaluate region -wise performance with the main focus on North America, Europe, Asia- Pacific, and LAMEA. Data presented by the researchers confirm that the United States will occupy a dominant position and witness new collaborations, joint venture, and acquisition & mergers.
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Prominent market players profiled during the research are GE Water Process & Technologies, The Dow Chemical Company, Akzo Nobel N.V, BASF SE, Buckman Laboratories International Inc., Solvay SA, and others. The data accumulated during the study on technology advancements, regions wise performance, adoption rate, demand and supply are presented in a tabular format and can be synced with the existing information on water treatment chemicals market.