According to the report “Water Treatment Chemicals Market by Type (Flocculant & Coagulant, Corossion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, Chelating Agents), Source, End-use (Residential, Commercial & Industrial), and Region – Global Forecast to 2028,” the market is expected to grow from USD 36.7 billion in 2023 to USD 43.9 billion by 2028, at a CAGR of 3.6%. growing demand for chemically treated water in various industries, stringent water and wastewater regulations, and growing pollution levels are driving the water treatment chemicals market.
Alternative water treatment technologies, high prices of water treatment chemicals, maintenance, and energy are viewed as market restraints. Rising population and fast urbanization in emerging markets, as well as increased demand for specialty formulations, provide market prospects.
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Some of the prominent key players are:
· Ecolab Inc. (US)
· Kemira Oyj (Finland)
· BASF SE (Germany)
· Solenis LLC (US)
· Dow Inc. (US)
Driver: Increasing demand for chemically treated water in various end-use industries
Global freshwater resources provide for only 2.5% of total water supply, making satisfying industrial and residential demands difficult. To close the widening gap between water demand and availability, efficient water recycling, which can be accomplished with water treatment chemicals, is critical. As a result, treated wastewater is increasingly being used by a variety of industries, including oil and gas, power, pulp and paper, mining, chemicals, and food and beverage. Emerging economies such as China, India, Brazil, Indonesia, Malaysia, Argentina, Chile, and Vietnam are seeing rapid industrial growth, increasing the demand for clean water for home, agricultural, and industrial purposes. Water treatment chemicals are a less expensive solution than costly methods such as ion exchange, UV filtering, and reverse osmosis.
Coagulation, flocculation, and disinfection are significantly less expensive for large-scale water treatment plants than UV and RO alternatives. The growth of the electricity, oil and gas, mining, and chemical industries, particularly in emerging economies like China and India, drives demand for these chemicals. Initiatives such as the exploitation of pre-salt oil resources in Brazil and the construction of high-capacity power plants worldwide using fossil fuels, nuclear, or solar electricity support the market for water treatment chemicals.
Based on the source, the synthetic segment is estimated to be the second fastest-growing segment of the water treatment chemicals market.
Due to rising demand for specific chemical compounds, synthetics are expected to be the second fastest growing and largest market of water treatment chemicals. Industries seek custom solutions to handle specific water treatment difficulties, which synthetic chemicals may deliver. These versatile and customizable compounds are gaining appeal because they provide effective and precise solutions for a variety of water treatment applications, putting them as the industry’s fastest growing market category after corrosion inhibitors.
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Europe accounted for the third largest market share amongst other regions in the water treatment chemicals market.
Several reasons contribute to Europe having the third-largest market share in the water treatment chemicals sector. The region’s well-established industrial base, strong environmental rules, and emphasis on water quality have fueled demand for treatment chemicals. Furthermore, Europe’s dedication to sustainability and ecologically responsible practices has increased the usage of water treatment chemicals in a variety of businesses. Continuous efforts to solve water scarcity and contamination issues have made Europe a key market for these products, cementing its position as the world’s third-largest market for water treatment chemicals. |
