Global Water Treatment Chemicals Market Report, published by Variant Market Research, forecast that the global market is expected to reach $28.7 billion by 2024 from $17.7 billion in 2016; growing at a CAGR of 6.2% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 7.7% and 5.8%, respectively, during the forecast period. In terms of volume, the market is expected to reach 13,833 kilo tons by 2024, at a CAGR of 5% from 2016 – 2024
Water Treatment Chemicals Market (By Type: Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Chelating Agents, Biocides & Disinfectants, pH Adjusters & Stabilizers, Anti-Foaming Agents, Oxidants, Oxygen Scavengers, and Other Types; By Application: Power Generation, Municipal Water Treatment, Chemical Processing, Pulp & Paper, Food & Beverages, Metal & Mining, Oil & Gas, Construction, Petroleum Refining, and Other Applications; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024
Water treatment chemicals are widely used to diminish the suspended solids such as sand, dust, and clay which remain undissolved in water in the water treatment processes. pH adjusters & softeners, coagulants, biocides & disinfectants, flocculants, corrosion inhibitors, and scale inhibitors are various types of chemicals widely used in water treatment processes. With wide range of applications such as municipal water treatment, chemical processing, pulp & paper, food & beverages, metal & mining, oil & gas, construction, and petroleum refining, the global water treatment chemicals market is expected to witness a high growth over the forecasted period.
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Increasing demand for chemically treated water in many end-use sectors to drive the growth of the water treatment chemicals market
The factors supporting growth of the water treatment chemicals market are stringent regulatory and environmental concerns, increasing demand for chemically treated water in many end-use sectors, increasing investment in industrial sector, and increasing use in waste reduction. However, availability of alternative water treatment technologies may act as a restraint for the growth of the market. Moreover, high adoption for certain formulations & growing population in the emergent economies would provide several growth opportunities for the market in the future years.
Type, application, and geography are the major segments in the global water treatment chemicals market. By type, the market is bifurcated into coagulants & flocculants, corrosion inhibitors, scale inhibitors, chelating agents, biocides & disinfectants, pH adjusters & stabilizers, anti-foaming agents, oxidants, oxygen scavengers, and other types. The market is categorized by application into power generation, municipal water treatment, chemical processing, pulp & paper, food & beverages, metal & mining, oil & gas, construction, petroleum refining, and other applications. By geography, the global water treatment chemicals market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Coagulants & flocculants accounted for the largest market share in the type segment
Coagulants & flocculants accounted for the largest market share in 2016, and are expected to continue its dominance during the forecast period 2016 – 2024, in the type segment, owing to high adoption of coagulants & flocculants in water treatment processes coupled with rising global population and rapid urbanization in developing economies.
Municipal water treatment accounted for the largest market share in the application segment
Global Water Treatment Chemicals Market, by Application
Municipal water treatment accounted for around one-third of the global market share in 2016, and is expected to continue its dominance during the forecast period 2016 – 2024. The growth would be majorly seen due to mandatory rules and regulations about municipal water treatment to guard humans from health hazards.
North America dominated the global market in 2016
GLOBAL WATER TREATMENT CHEMICALS MARKET SHARE BY GEOGRAPHY, 2016 (%)
North America dominated the global water treatment chemicals market with largest market share of 31.5% in 2016, owing to increasing government compulsions for water recycling and growing demand for water treatment chemicals from industrial sector in this region.
The key players operating in the market are Cortec Corporation, BASF SE, Kemira Oyj, GE Osmonics, Inc., BWA Technology, Inc., The Dow Chemical Company, AkzoNobel, Buckman Laboratories International, Inc., Solvay SA, and Ecolab Inc., among others.