Austin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- According to the SNS Insider report, The Water Treatment Chemicals Market Size was valued at USD 46.7 billion in 2023, and is expected to reach USD 94.2 billion by 2032, and grow at a CAGR of 8.1% over the forecast period 2024-2032.
The water treatment chemicals market is expected to have a strong foothold globally, wherein corrosion inhibitors dominate the market. These are some of the very vital chemicals that help prevent damage to equipment or machinery within water systems of any particular industry. Due to the increasing interest in sustainability and clean water becoming an urgent necessity, the market is finally on an upward swing. Back in September 2024, word filtered out that an MIT filtration technology breakthrough promised to clear up water sources from long-lasting toxic chemicals better than current methods. Also promising was a chemical discovery announced in May 2024, offering new ways in which the success of water treatment can be enhanced, particularly for hard-to-treat water supplies like industrial wastewater.
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Key Players:
- Kemira OYJ
- Lanxess
- DuPont
- Akzo Nobel NV
- Solenis LLC
- Ecolab Inc
- Baker Hughes
- Suez SA
- Lonza Group
- LG Chem Ltd.
All these factors have led to strong demand from industries such as manufacturing, pharmaceuticals, and energy, for which water treatment has become pivotal. Additionally, growing concern over the contamination of water sources and the need for safe drinking water in urban cities has given this market another boost. For instance, a report by MIT published in January 2024 highlighted the development of a zwitterionic hydrogel capable of removing micropollutants from water in record time and that represents a game-changing water purification technique for municipal systems. Manufacturers are increasingly using advanced chemicals to enable them to meet these strict regulations, especially in regions such as North America and Europe, where water quality has become a prime issue. This is further enhanced by the increase in industrialization within the Asia-Pacific region due to China and India seeking effective means of treating wastewater. Other driving factors include the global response to the scarcity and contamination of water placing the Water Treatment Chemicals Market right at the front of this change.
Water Treatment Chemicals Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 46.7 Billion |
| Market Size by 2032 | US$ 94.2 Billion |
| CAGR | CAGR of 8.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Type (Coagulants & Flocculants, pH Adjusters & Softeners, Biocides & Disinfectants, Scale Inhibitors & Dispersants, Corrosion Inhibitors, Chelating agents, Anti-foaming agents, Others) •By Application (Boiler water treatment, Cooling water treatment, Raw water treatment, Water Desalination, Chemical processing, Power generation, Others) •By End-use Industry (Residential, Commercial, Industrial, Power, Oil and Gas, Chemical Manufacturing, Mining and Mineral Processing, Food and Beverage, Pulp and Paper, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Drivers | • Increasing regulatory pressures to remove contaminants like PFAS are driving innovation and demand for advanced water treatment chemicals • Investments in advanced filtration technologies are increasingly being driven by the environmental and health impacts of polluted water sources |
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Segment Analysis
In 2023, Industrial applications dominated the Water Treatment Chemicals Market and accounted for about 45% of the market share in 2023, driven by very high water usage and generation of wastewater in industries like power generation, oil and gas, and manufacturing. Industries have specific needs for such chemicals, like corrosion inhibitors, coagulants, and biocides, for water quality and protection of their systems from damage. Examples of such include large volumes of water used in the cooling aspects at powerhouses; such waters need massive treatment to prevent scaling or corrosion-related problems in their systems. Similarly, such chemicals find applications in the oil and gas industry sector deemed to produce volumes of wastewater during drilling and refining processes these types of treatment chemicals play vital roles in meeting environmental directives, enabling efficiencies in operations. One of the major reasons the industrial segment can be considered as leading in the marketplace is its critical dependence on water treatment solutions, whether for production purposes or environmental compliance.
Innovative Solutions and Collaborative Efforts to Combat Forever Chemicals in Water
Drinking water contamination with so-called forever chemicals PFAS (per- and polyfluoroalkyl substances) turned into an urgent environmental and public health concern. For their water- and stain-repelling properties, these chemicals stick around and don't break down in the environment. Thus, they bioaccumulate both in the environment and human organisms over time. Exposure to PFAS has been linked to serious health concerns, such as cancer, liver damage, and developmental disorders. These are risks that are just starting to get increased recognition, yet regulatory measures have been scant to date, with many water systems poorly equipped to test and remove PFAS. This challenge would need several approaches, including improving filtration technologies for water, stricter regulations, and advancing research for complete comprehension of health and environmental consequences and mitigations. Successful PFAS contamination management can only be achieved with the strong collaboration between government bodies, scientific communities, and the public towards cleaner and safer drinking water.
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Recent Developments
November 2023: Kemira Oyj upgraded its ferric sulfate water treatment production in Goole, UK, driven by growing demand from the increasingly stricter UK water regulations.
November 2023: ICIQ researchers in Spain developed micromotors for wastewater treatment capable of producing ammonia as a green energy carrier. Their task was optimized through the use of AI provided by the University of Gothenburg.
October 2023: TiO2 photocatalyst developed at Drexel University by Michel Barsoum and his group degrades the dye pollutants such as rhodamine 6G and crystal violet up to 90% and 64%, respectively, in water within 30 min of visible light irradiation.
Regional Analysis
North America dominated and accounted for market share with approximately 35% in the Water Treatment Chemicals Market in 2023 due to strict regulatory standards, huge infrastructure investments, and growing demand for advanced water treatments. For instance, the stringent environmental regulations by the U.S. and Canada have drawn the attention of municipalities and industries toward advanced technologies for water treatment, thus driving up the demand for chemicals like coagulants and disinfectants. In addition, key players in the region, such as Ecolab and Kemira, have expanded their capacity and research output to further strengthen North America's position as the clear market leader on the global front.
Key Takeaways:
- Stringent water safety regulations are further encouraging the adoption of specialty water treatment chemicals.
- The high growth of industrialization in India and China increases the requirement for efficient wastewater handling.
- Innovations in water treatment technologies are enhancing the effectiveness of chemical treatment.
- This has been driven by investment in the management of wastewater and sustainability.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization Analysis by Region
5.2 Feedstock Prices Analysis by Region
5.3 Regulatory Impact: Effects of regulations on production and usage.
5.4 Environmental Metrics Analysis by Region
5.5 Innovation and R&D
6. Competitive Landscape
7. Water Treatment Chemicals Market Segmentation, by Grade
8. Water Treatment Chemicals Market Segmentation, by Application
9. Water Treatment Chemicals Market Segmentation, by End-use Industry
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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