by Water treatment chemicals are used for purification of water bodies and removal of contaminants. They help in removing impurities and maintaining the quality of water for various industrial and municipal applications. Water treatment chemicals find wide application in industries like power, oil & gas, chemical, mining, and others for treatment of boiler feed water, cooling water, and wastewater. They help reduce scale formation, corrosion, suspended solids, biological growth, and alkalinity in treated water.
The global water treatment chemicals market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Industries such as power, oil & gas, chemical, mining, and others generate huge amounts of wastewater during their operations. Stringent regulations regarding discharge of industrial effluents into water bodies are compelling industries to adopt advanced wastewater treatment technologies and effective treatment chemicals. This is creating high demand for coagulants, flocculants, corrosion inhibitors, scale inhibitors, and biocides for removal of pollutants from industrial wastewater before discharge or reuse.
SWOT Analysis
Strength: The water treatment chemicals market has strong growth opportunities owing to increasing industrialization and stringent wastewater treatment regulations.
Weakness: High capital investments required for setting up new water treatment plants act as a barrier for small players to enter the market.
Opportunity: Growing concerns about clean water availability and wastewater management present opportunities for innovations in advanced water treatment technologies.
Threats: Volatility in raw material prices affects the overall profitability of water treatment chemical manufacturers.
Key Takeaways
The Global Water Treatment Chemicals Market Size is expected to witness high growth. The market size is projected to reach US$ 40.53 Bn by 2024, registering a CAGR of 7.6% during the forecast period.
Regional analysis
Asia Pacific region currently dominates the global market and is expected to maintain its lead position over the forecast period. Rapid industrialization and increasing population in countries such as China and India are driving the demand for water treatment in the region. Stringent regulations regarding discharge of industrial wastewater have propelled the adoption of advanced water treatment technologies.
Key players
Key players operating in the water treatment chemicals market are Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation. Sisecam Group is one of the largest manufacturers offering a wide range of chemicals used in municipal and industrial water treatment applications. Bormioli Rocco SpA is a leading supplier of specialty chemicals used for cooling tower and boiler water treatment.
The global water treatment chemicals market is fragmented with the presence of both international and domestic players. Focus on development of innovative products and adoption of sustainable production techniques are some of the key strategies adopted by major companies to gain competitiveness in this space.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
