Water Treatment Chemicals Market value to Show $31.7 Billion by 2022
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The chemicals used to purify water and prevent corrosion of the treatment equipment are termed as water & wastewater treatment chemicals. The global demand for water & wastewater treatment chemicals has gained traction owing to stringent government regulations for the use of contaminated water and discharge from industries & municipalities. Other factors that drive the water treatment chemicals market include, increase in water dependence of industries and awareness to purify domestic water. However, factors expected to hamper the market growth include, adoption of treatment processes such as UV radiation and membrane technology.
Industrial water treatment is important in order to comply with several governmental and environmental regulations associated with industrial wastewater discharge. In industries, the treatment of water prior to its use is called process water treatment, while its treatment after the manufacturing process is called wastewater treatment. Water treatment is employed in different industries such as power generation, refineries, pulp & paper, metal & mining, food & beverages, oil & gas, and sugar including others. Municipal water treatment includes the treatment of drinking water, municipal wastewater, water used in swimming pools, and bottled water.
Water is an important resource for household chores, drinking purposes, and manufacturing processes in numerous end-use industries. Increasing population and industries across the globe have created the need for water treatment in order to recycle and reuse wastewater. By geography, the global water treatment chemicals market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the leading region that accounted for 32.8% of the total market in 2015, owing to the rapid growth in the industrial sector and adoption of water treatment processes in order to meet the required water quality standards.
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Asia-Pacific is the most lucrative region in the global water treatment chemicals market. Market players have forayed into the Asia-Pacific region due to the increasing use of water treatment chemicals for industrial as well as municipal water treatment. The Asia-Pacific water treatment chemicals market was valued at $7,609 million in 2015 and is expected to grow at a CAGR of 5.6% from 2016 to 2022.
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North America is the second most lucrative market for new entrants. Increasing demand for water treatment chemicals from industrial sector and growing government obligations for water recycling are the key factors fueling the growth of the water treatment chemicals market in this region.
Key Findings of Water Treatment Chemicals Market
• Corrosion inhibitors segment occupied highest share in 2015.
• Asia-Pacific is projected to continue to lead the market throughout 2022.
• Drinking water segment in municipal water treatment chemicals market is expected to retain the highest demand throughout the analysis period.
• The U.S. is the leading consumer of water treatment chemicals in North America.
• In terms of volume, scale inhibitors & dispersants is projected to be the fastest growing segment during the forecast period.
North America and Europe collectively accounted for more than half of the total water treatment chemicals market in 2015, and are expected to maintain their lead throughout the forecast period. One of the factors that supports this trend is the outburst of cryptosporidium in the Americas during 1990s, resulting in an increased treatment regulation in municipalities. However, LAMEA is projected to be the fastest growing segment due to an increase in industrial activities, during period under consideration.
The prominent players profiled in this report include, Kemira Oyj, GE Water & Process Technologies, BASF SE, Ecolab Incorporated, BWA Water Additives, Cortec Corporation, The Dow Chemical Company, Buckman Laboratories International Inc., Solvay S.A., and Akzo Nobel N.V.
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