Water Treatment Chemicals Market worth $61.1 billion by 2026 | Key players operating in the market include BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ

According to recent market research "Water Treatment Chemicals Market by Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, Chelating Agents), End-Use (Residential, Commercial, Industrial), and Region - Global Forecast to 2026", The global water treatment chemicals market size is projected to grow from USD 39.1 billion in 2021 to USD 61.1 billion by 2026, at a CAGR of 9.3% between 2021 and 2026.

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Corrosion inhibitors is projected to be the largest type segment in water treatment chemicals market. The use of poor quality water in cooling systems and increased water recycling will boost the market for corrosion inhibitors during the forecast period. In addition, the increasing demand from the oil & gas industry will propel the market for this type of water treatment chemicals.

The demand for water treatment in the industrial sector is increasing due to rapid industrialization in developing countries and substantial growth in several key markets. Every industry consumes water for a variety of applications in include metal & mining, chemical processing, food & beverage, oil & gas, paper & pulp, and power generation that require water treatment chemicals to treat the usage of essential water.

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The global water treatment chemicals market size is projected to reach USD 61.1 billion by 2026 at a CAGR of 9.3% from USD 39.1 billion in 2021. The increasing demand for chemically treated water in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the market for water treatment chemicals.

The increase in demand for water treatment chemicals and the growing industrial development in the emerging economies, such as APAC and South America, are driving the market. The key players in the water treatment chemicals market include BASF SE (Germany), Ecolab Inc. (US), Solenis LLC (US), Akzo Nobel N.V. (Netherlands), Kemira OYJ (Finland), Baker Hughes (US), Lonza (Switzerland), The Dow Chemical Company (US), Snf Floerger (France), and Suez S.A. (France). These market leaders have adopted various organic as well as inorganic growth strategies between January 2015 and March 2021 to strengthen their position in the water treatment chemicals market. The strategy of expansions was among the major growth strategies adopted by the leading market players to enhance their regional presence and meet the growing demand for water treatment chemicals in emerging economies

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Kemira OYJ (Finland) is one of the leading manufacturers and distributors of water treatment chemicals. The company adopted agreement/joint venture and acquisitions as its key business strategies. For instance, in Jan 2019, The company signed an agreement to establish a joint venture – Kemira Yongsan Chemicals Co., Ltd (“NewCo”) in Ulsan, Republic of Korea, with Yongsan Chemicals, a privately-owned chemical company in South Korea. This joint venture in South Korea is aimed at expanding Kemira’s presence in Asia Pacific and driving profitable growth in the region. NewCo will produce dry polyacrylamide (“DPAM”), cationic monomer Q9 (“AMD”) and other chemicals, which are used for retention & drainage in packaging and paper production, as well as in wastewater treatment and in sludge dewatering.

BASF SE (Germany) is one of the largest chemical producers globally. The company is among the key players in the water treatment chemicals market. The company adopted the strategies of merger and new product launch to strengthen its competitiveness in the global water treatment chemicals market. For instance, in January 2019, BASF merged its paper wet-end and water chemicals business with Solenis. The combined business is expected to operate under the Solenis name and offer increased sales, service, and production capabilities across the globe.

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