Water treatment chemicals are used for purification of water utilized in various end-use industries and household applications. They aid in removing impurities, suspended particles, bacteria, and other contaminants from raw water to make it potable. The commonly used water treatment chemicals include coagulants & flocculants, corrosion inhibitors, scale inhibitors, pH adjusters & softeners, biocides & disinfectants, and others. These chemicals find widespread application in municipal drinking water treatment, oil & gas, power, mining, pulp & paper, chemical processing, food & beverage, and other industries.
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 Dynamics:
According to the United Nations, 55% of the world’s population lived in urban areas in 2018, a proportion that is expected to increase to 68% by 2050. The rapid urbanization has mounted pressure on water resources and amplified the demand for water treatment to ensure proper waste disposal and supply of clean water. Further, growing industrial activities in emerging economies like India, China, Brazil, and others have significantly contributed to the pollution of water bodies near industrial areas. This has boosted the adoption of water treatment measures by industries to comply with stringent environmental regulations and sustainability goals. High population growth and inadequate infrastructure in developing nations have also propelled the water treatment chemicals market growth.
Segment Analysis
The global water treatment chemicals market is segmented into type, end-use industry, and geography. By type, the market is divided into coagulants & flocculants, corrosion inhibitors, scale inhibitors, biocides & disinfectants, pH adjusters & softeners, and others. The coagulants & flocculants segment held the largest share of more than 30% in 2020 and is expected to continue dominating during the forecast period. This is because these chemicals help remove suspended solids and colloidal particles from water and wastewater through aggregation and make them settle.
PEST Analysis
Political: Governments across nations are focusing on investment in water treatment infrastructure to ensure availability of clean and potable water. Stringent regulations pertaining to discharge of industrial effluents are also boosting adoption of water treatment chemicals.
Economic: Growing industrialization and urbanization are increasing the demand for water. This is generating need for treatment of industrial wastewater and municipal water, thereby propelling the market.
Social: Rising awareness about water conservation and scarcity is encouraging reuse of industrial and municipal wastewater after treatment. This is fueling consumption of water treatment chemicals.
Technological: Advanced technologies like membrane bioreactors and activated carbon are gaining traction. Membrane bioreactors help produce cleaner effluents while activated carbon removes toxins and undesired contaminants effectively.
Key Takeaways
The Global Water Treatment Chemicals Market Size is expected to witness high growth at a CAGR of 7.6% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 40.53 Bn by 2024 from US$ 28.92 Bn in 2020.
Regional analysis: Asia Pacific region dominated the market with around 35% share in 2020 owing to large-scale industrial activities and infrastructure development projects in countries like China and India. Stringent environmental norms are also propelling the regional market. The region is estimated to continue leading over the next few years.
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. These players are focusing on new product launches and partnerships 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