Water Treatment Chemicals are used to improve the quality of water fit for its desired end-use by removing or reducing the concentration of contaminants or by addition of specific components to render it a desired attribute. The Global Water Treatment Chemicals Market is anticipated to grow at a CAGR of 5 % by the end of the forecast period of 2022.
Growing Consumption of Water Led by Industrial Use is the Crucial Determinant of the Market Growth
The growing demand for water, primarily by the industrial sector, is a vital driver of the market growth. According to the European Environment Agency (EEA), 44 % of total water in Europe is used for agriculture, 40 % for industry and energy production, and 15 % for public water supply. The growing prosperity of water-intensive industries such as power plants, electronics, textiles, food and beverages, agriculture, leather, and chemicals are driving a significant demand. Thermal power plants utilize more than 70 % of the total industrial water usage or about 8 to 12 % of the total water consumption. Application expanse such as cooling towers and boilers have added to the demand. The growing recreation and entertainment industry has generated a significant demand owing to water sports and swimming pools.
Urbanization and Awareness of Water Quality is Expected to Result in Significant Growth
The growth in world population and concurrent urbanization coupled with growing pollution of water bodies has created an intense demand for water treatment. The growing pressure on rivers and lack of environmental regulations have resulted in river bodies being polluted harming those dependent for drinking water on them. Thus municipal water treatment is driving the highest growth.
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Enactment of Water Quality Standards and Regulations are Strong Drivers of Growth
There has been a spate of water quality regulations around the globe. For example, the Safe Drinking Water Act requires the U.S. Environmental Protection Agency (EPA) to set standards for drinking water quality in public water systems. EPA has set standards for over 90 contaminants of which unregulated pollutants may require further regulation. Moreover, the provisions of incentives, grants and low-interest loans for water treatment plants by Governments as exemplified by the Drinking Water State Revolving Fund has triggered a tremendous demand. More rigorous water quality standards have been adopted by Europe, USA, and other developed countries.
Growing Price and Presence of Alternative Treatment Technologies are Constraining the Market
The high cost of Water Treatment Chemicals and presence of conventional techniques such as natural and organic filtering. The development of NEWater technology, which converts wastewater to potable water, competes for chemical treatment.
The Asia Pacific accounts for the largest as well as the fastest growing market owing to increasing population, awareness and improvements in administration. The Asia Pacific is led by China and India, which are the main drivers of the market.
North America accounts for the second most significant share of the global market led by the U.S. Europe is expected to be influenced by Germany, France, and the U.K. However Southern Europe is expected to drive faster growth. The Middle East and Africa region are supposed to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. Saudi Arabia is a net importer of water and is a burgeoning market. The installation of desalination plants to convert seawater to fresh water is driving further growth.
The prominent players of Global Water Treatment Chemicals Market report are The Dow Chemical Company, GE Water & Process Technologies, BASF SE, Kemira Oyj’s, Ecolab USA Inc., Ashland Inc., Akzo Nobel N.V., Buckman Laboratories International Inc, Solvay S.A, Cortec Corporation and others.
To generate a detailed understanding of the intricacies of the Global Water Treatment Chemicals Market, the report has been segmented into Type, Application, and Regions.
Based on Type, the market has been segmented into corrosion inhibitor, scale inhibitor, biocides & disinfectant, chelating agents, anti-foaming agents and others.
Based on Application, the market has been segmented into municipal water treatment, food & beverage, chemical processing, oil & gas, power generation and others
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.
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