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Water Treatment Chemicals Market to hit US$46.5 billion by 2027 | Growing Region, Singapore, South Korea, Japan, Philippines, USA, UK
Water Treatment Chemicals Market
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Based on type, the corrosion inhibitors segment contributed to the largest market share in 2019, accounting for more than one-fifth of the global water treatment chemicals market, and is projected to maintain its lead status during the forecast period. This is attributed to the increase in demand to prevent corrosion in various equipment from the oil & gas sector, chemical, pulp & paper, and other industries. However, the scale inhibitors & dispersants segment is estimated to manifest the highest CAGR of 6.1% from 2020 to 2027. This is owing to the rise in demand for scale inhibitors to decrease the concentration of scale-forming compounds that accumulate in water and disposal wells, surface equipment, and flow lines.
The water treatment chemicals market is anticipated to witness considerable growth during the forecast period, owing to factors such as increase in demand for clean water for municipal/industrial purposes, stringent regulations associated with the waste water discharge, and rapid growth & investment in the industrial sector. However, presence of alternative water treatment technologies such as membrane processes, UV irradiation, & others and disadvantages of chemicals in water treatment are the key factors restraining the growth of the market. On the contrary, increase in demand for silver-based biocides in the water treatment is expected to create lucrative opportunity for the key players in the water treatment chemicals market globally."
Based on end-use industry, the industrial segment accounted for the highest market share, contributing to more than three-fifths of the total share in 2019, and is expected to maintain its dominant share by 2027. However, the municipal & others segment is anticipated to grow at the highest CAGR of 5.2% during the forecast period.
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Based on region, Asia-Pacific accounted for the largest share of the global water treatment chemicals market, holding nearly two-fifths of the total share in 2019, and will continue its leadership position during the forecast period. Moreover, the region would portray the fastest CAGR of 5.4% from 2020 to 2027. The United States and Canada are the major contributors to the market growth in this region. Europe has a well-established water treatment chemicals market due to strict regulations regarding water quality and environmental protection. Countries such as Germany, France, the United Kingdom, and Italy have significant market shares in this region. The report also discusses regions including North America, Europe, and LAMEA.
By Type
Coagulants
pH Adjusters & Softeners
Flocculants
Biocides & Disinfectants
Scale Inhibitors & Dispersants
Corrosion Inhibitors
Others
Covid-19 Scenario:
Due to the lockdown and stringent regulation issued by the governments the manufacturing activities have been stopped. This has impacted the production volume. On the other hand, the supply chain disruptions have caused shortage of raw material which further affected the manufacturing activities.
The halt in industrial activities impacted the demand at the initial stages. However, the relaxation of restrictions are further anticipated to assist the market to recoup soon.
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Leading players of the market-
Akzo Nobel N.V.
BASF SE
Baker Hughes Company
Kemira OYJ
Ecolab Inc.
SNF Floerger
Lonza Group AG
Suez SA
Solenis LLC
Dow Chemical Company.
Browse Full Report Summary: https://www.alliedmarketresearch.com/water-treatment-chemicals-market
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