Water Treatment Chemicals Market Targets $31.7 Billion by 2022, Globally
Water Treatment Chemicals Market is expected to garner $31.7 billion by 2022, registering a CAGR of 4.5% during the forecast period 2016 - 2022.
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Increasing consumption of water across the globe coupled with stringent government regulations on the TSS level of the water drives the global water treatment chemicals market. In addition, increasing industrial activities and growth in world population drives the market for the water treatment chemicals across the globe. However, factors such as increasing water treatment chemicals prices and presence of alternate treatment technologies is expected to hamper the market growth.
Based on type of water treatment chemicals, the market is segmented into coagulants, pH adjusters & softeners, flocculants, biocides & disinfectants, scale inhibitors & dispersants, corrosion inhibitors and others. With the technological development in the water treatment industry, usage of treatment equipment has increased, thereby increases the consumption of the corrosion inhibitors across the globe as they protect the equipment from corrosion during treatment process. Hence, in 2015, corrosion inhibitors occupied highest share of 22.8% in global water treatment chemicals market.
Geographically, the market has been segmented into North America, Europe, Asia Pacific and LAMEA. In 2015, Asia Pacific occupied 32.8% of the total water treatment chemicals, with China and India as the major countries contributing the growth. Rapid increase in the population coupled with scarcity in the pure & clean drinking water are the significant factors responsible for the growth of the water treatment chemicals market in the Asia-Pacific 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.
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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