Water Treatment Chemicals Market Worth USD 67.69 Billion by 2025 at 6.5% CAGR - Report by Market Research Future (MRFR)
Water Treatment Chemicals Market Insights and Industry Analysis by Type (Corrosion Inhibitors, Coagulants & Flocculants, Scale Inhibitors and Biocides & Disinfectants), Application (Municipal Water Treatment Plant, Chemical Processing, Power Generation, and others), Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), Competitive Market Size, Share, Trends, and Forecast to 2025
/EIN News/ -- New York, US, July 05, 2021 (GLOBE NEWSWIRE) -- Water Treatment Chemicals Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Water Treatment Chemicals Market Information by Technology and Region - Forecast till 2025”, the market is projected to cross USD 67.69 Billion by 2025 at 6.5% CAGR.
Market Scope
Untreated water contains bacteria, algae, viruses, minerals, and suspended solids, which are removed by water treatment chemicals. It's also used to remediate alkalinity and keep the pH of industrial wastewater stable. Water is used extensively in the electricity and manufacturing industries all over the world to maintain optimal operation. Water is required in power plants for steam generation, ash handling, flue gas desulfurization systems, and cooling. All of these activities result in a significant amount of contaminated water, which is harmful to the ecosystem. Manufacturers are being influenced by increased demand for water treatment chemicals in end-use sectors to boost their manufacturing capacity.
Market Drivers
Chemical, pulp & paper, oil & gas, food & beverage, and mining industries all produce enormous amounts of contaminated wastewater on a regular basis. As a result, wastewater generated by these industries is typically laden with toxic, carcinogenic, and non-biodegradable chemicals; organic matter and mineral nutrients such as nitrogen and phosphorous; and traces of metals and oxides, all of which must be treated before being discharged into water bodies, driving demand for global wastewater treatment chemicals in the forecast period. Furthermore, as manufacturing firms' production capacities grow, the number of industrial effluents grows as well. These effluents disrupt the chemical oxygen demand (COD) and biological oxygen demand (BOD) balance in water bodies, resulting in pollution and promoting the growth of water treatment chemicals.
Furthermore, governments all over the world have enacted strict rules regarding the release of effluent into the environment. Growing environmental concerns are pointing to the world's decreasing water reservoirs, emphasizing the necessity to utilize the remaining reserves wisely and intelligently. Simultaneously, increasing industrialization is boosting the widespread use of these chemicals around the world, indicating that the industry is primed for explosive growth in the near future.
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Competitive Landscape:
The prominent market players in the Global Water Treatment Chemicals Market are
- BASF SE (Germany)
- Kemira OYJ (Finland)
- Lanxess (Germany)
- DuPont (US)
- Akzo Nobel NV (Netherlands)
- Solenis LLC (US)
- Ecolab Inc (US)
- Baker Hughes (US)
- Suez SA (France)
- Lonza Group (Switzerland)
Market Restraints
On the other hand, factors such as increasing prices of these chemicals, volatility of supply & cost of feedstock required in the manufacturing of these chemicals are expected to obstruct the market growth considerably. Also, the increasing number of counterfeit treatment technologies are impeding the market growth.
COVID-19 Analysis:
COVID-19 had a negative impact on the market in 2020. Various end-user industries, such as petrochemical, curtailed their throughput production during the lockdown due to the pandemic scenario, citing a drop in demand. The pandemic has also disrupted supply chains, and logistical constraints can make it difficult to deliver raw materials to sites or products to the waterworks. To avoid this, authorities can grant limitless cross-border transit clearance to ensure a seamless supply of drinking water or wastewater services. Another major source of concern is that workers at manufacturing sites may become infected with the Covid-19, resulting in production outages. To avoid it, the industry has put in place a long list of safeguards for its workers.
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Market Segmentation
The global water treatment chemicals market has been segmented based on type, application, and region.
Coagulants and flocculants, corrosion inhibitors, biocides and disinfectants, and scale inhibitors are the several types of coagulants and flocculants. Due to an increase in a number of chronic diseases caused by the intake of dirty water around the world, the biocides & disinfectants market is developing at a high CAGR.
The global water treatment industry is split into municipal water treatment plants, chemical processing, power generating, and other categories based on application. The use of water treatment chemicals in municipal plants is projected to increase as public awareness of the importance of safe drinking water grows around the world.
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Regional Overview
The market for water treatment chemicals has been researched in five important regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Increased usage of water treatment chemicals in manufacturing industry wastewater discharge is expected to raise regional demand in Europe. Furthermore, during the review time, the government's strict regulation to limit water pollution is expected to favour water treatment chemicals products. The chemical processing sector is driving the market for water treatment chemicals in North America.
The market in Asia-Pacific is expanding at a rapid pace as a result of rising population, which is generating water pollution, increasing demand for water treatment chemicals over the forecast period. Leading countries like India, China, Malaysia, Thailand, and South Korea are undergoing an economic revolution, which has resulted in increased wastewater production, necessitating the use of more water treatment chemicals.
Due to substantial oil and gas exploration operations in the region, the Middle East and Africa, as well as Latin America, are expected to develop strongly during the assessment period.
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