Water Treatment Chemicals Market size is projected to reach $46.5 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027

According to a new report published by Report Ocean titled, “Water Treatment Chemicals Market by Type and End-Use Industry: Opportunity Analysis and Industry Forecast, 2020–2027,” the global water treatment chemicals market size was valued at $33.3 billion in 2019, and is projected to reach $46.5 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027.

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Water treatment chemicals are the type of specialty chemicals that are used to eliminate the impurities and residues from water. Water treatment chemicals are popularly used to treat both industrial and municipal water. Water treatment chemicals are mostly used to purify municipal water for drinking and cleaning purposes. The demand for water treatment chemicals is primarily supplemented by increase in global population and rise in industrialization. The type of water treatment chemicals included in this study are corrosion & scale inhibitors, biocides & disinfectants, coagulants & flocculants, and others. Currently, the demand for water treatment chemicals is the highest in the Asia-Pacific, owing to huge industrial base in China, India, South Korea, and Japan.

Stringent government regulations for proper utilization of water compel industries and municipal corporations to adopt water treatment solutions fuel the demand for water treatment chemicals. In addition, rise in awareness among people regarding water treatment and increase in oil production & extraction activities to overcome the demand for electricity generation further drive the need of water treatment, which in turn fuels the growth of the market globally. Moreover, biocides and disinfectants are intensively used in cooling towers, which further propels the demand for water treatment chemicals in the upcoming years.

Whereas health problems due to some of the hazardous chemicals used in the water treatment and rise in use of other water treatment technologies are expected to hamper the market growth during the analyzed timeframe.

On the basis of types, the corrosion inhibitors segment was the major revenue contributor in 2019, and is expected to continue its dominance during the forecast period, owing to increase in demand to prevent corrosion in the various equipment from the oil & gas sector, chemical, pulp & paper, and other industries.

On the basis of the end-use industry, the municipal & others segment is expected to grow with a significant rate in the near future. This is attributed to increase in demand for safe drinking water from the residential and other municipal sector applications. In addition, rise in awareness regarding the water-borne diseases is driving the growth of the water treatment chemicals market globally.

On the basis of region, the water treatment chemicals market size is analyzed across four major regions, which include North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the dominant
water treatment chemicals market share in 2019, and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as rise in standards of water quality, strong economic growth, environmental concerns, and infrastructure development of water treatment facilities in the region. In addition, more than 59.62% of the total Asia-Pacific water treatment chemicals market share in terms of value is from the highest water treatment chemicals producing countries such as China and India.

Akzo Nobel N.V., Baker Hughes Company, BASF SE, Ecolab Inc., Kemira OYJ, Lonza Group AG, SNF Floerger, Solenis LLC, Suez SA, and the Dow Chemical Company are the key players profiles included in the report. Other players operating in the value chain include Cortec Corporation, Kurita Europe GmbH, Veolia, Somicon ME FZC, Green Water Treatment Solutions, and Johnson Matthey.

COVID-19 impact on the market
There will be somewhat steady and sluggish growth in the water treatment chemicals market, owing to the COVID-19 pandemic across the globe for the year 2020. This leads to complete ban on manufacturing and production operations in many countries. We can take precautions through personal hygiene and sanitization, which demands clean and plenty of water. This increase in demand for water access, hygiene, clean water, and others help in stabilizing the water treatment chemicals market growth in this pandemic period. Proper operation and excellence of water utilities is needed in case of handling disasters and emergencies in best possible way. 

Key Findings Of The Study

By type, the corrosion inhibitors segment emerged as the global leader by acquiring around 22.1% market share in 2019 in terms of revenue, and is anticipated to be the largest market during the forecast period.
By end-use industry, the industrial segment emerged as the global leader, registering 61.75% market share in 2019 in terms of revenue, and is anticipated to continue its dominance during the forecast period.
Asia-Pacific is the major consumer of water treatment chemicals among other regions. It accounted for around 40.23% of the global market share in 2019 as a result of increase in water treatment from the industrialization and municipal sectors across the region.
The scale inhibitors & dispersants segment is expected to grow at a CAGR of 6.1% in terms of revenue during the forecast period, and is accounted for $4,739.7 million in the year 2019.

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This release was published on openPR.