by The Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Water treatment chemicals are used for treating wastewater generated from various end-use industries such as power, oil & gas, mining, chemical, food & beverage, pulp & paper and municipal wastewater treatment plants. These chemicals help remove suspended solids, dissolved compounds, biological contaminants and gases from wastewater. Some of the commonly used water treatment chemicals are coagulants & flocculants, biocides & disinfectants, scale & corrosion inhibitors, pH conditioners and others.
Market Dynamics:
The water treatment chemicals market is primarily driven by stringent wastewater discharge norms and growing water scarcity across the globe. Stringent regulations regarding wastewater disposal standards have compelled industries and municipal corporations to invest heavily in wastewater treatment projects. For instance, in the US and Europe, industries are mandated to treat wastewater to reuse or safely discharge it, which has significantly spurred the demand for water treatment chemicals. Furthermore, rapid urbanization and growing population have increased the fresh water demand exponentially. However, the available fresh water sources are limited. This has propelled the need for wastewater recycling and reuse, thereby driving the market growth. Moreover, surge in industrialization along with growing manufacturing output has substantially increased industrial wastewater volumes. Proper treatment of this wastewater requires considerable amount of chemicals, thus fueling the market expansion.
Segment Analysis
The global water treatment chemicals market is segmented based on type into coagulants & flocculants, corrosion inhibitors, scale inhibitors, biocides & disinfectants, pH adjusters & softeners and others. The coagulants & flocculants segment dominates the market and is expected to remain the largest during the forecast period. This is because coagulants & flocculants are essential for water and wastewater treatment processes for removing suspended solids and emulsified oils through neutralization of surface charges.
PEST Analysis
Political: Stringent regulations regarding usage of wastewater and freshwater conservation are driving demand for advanced water treatment technologies and chemicals.
Economic: Rapid industrialization and infrastructure development especially in emerging economies is propelling the need for sustainable water management systems requiring large scale usage of treatment chemicals.
Social: Increasing global population and rising awareness about water conservation are key factors promoting adoption of water recycling and reuse practices employing advanced treatment methods.
Technological: Development of innovative treatment methods like ultrafiltration and reverse osmosis along with advanced monitoring systems is facilitating optimized chemical usage for water purification.
Key Takeaways
The global Water Treatment Chemicals Market Size is expected to reach US$ 60.32 Bn by 2030, expanding at a CAGR of 6.6% during the forecast period. Rapid urbanization and growing industrial activity are resulting in increased freshwater consumption and water pollution levels, thereby driving the demand for water treatment chemicals for various municipal and industrial applications. Asia Pacific accounts for the largest regional market share led by China, India and other Southeast Asian countries. This is attributed to massive infrastructure investments and expanding manufacturing industry in the region.
Regional analysis
The Asia Pacific region accounts for the largest market share and is expected to continue its dominance during the forecast period as well. This can be attributed to strong economic growth, urbanization and industrialization activities leading to high freshwater usage across countries like China, India and Southeast Asian nations. Additionally, rising focus on wastewater treatment and recycling is propelling demand for advanced treatment chemicals.
Key players analysis
Key players operating in the water treatment chemicals market include BASF S.E., Suez S.A., Kemira OYJ, BWA Water Additives, Ecolab Inc., Cortec Corporation, DowDuPont Inc., Baker Huges Incorporated, Akzo Nobel N.V., and Solenis LLC. Major players are focusing on capacity expansion, mergers and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
