New York, USA, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Water Treatment Chemicals Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Water Treatment Chemicals Market Information by Type, Application, And Region - Forecast till 2030”, the market is estimated to grow at a 6.90% CAGR to reach USD 69.23 Billion by 2030.
Market Synopsis
Due to the rapid development of the industrial sector and urbanization, the market for water treatment chemicals, including flocculants and coagulants, defoamers, corrosion inhibitors, and pH boosters, is anticipated to undergo exponential growth. The demand for these chemicals is anticipated to stay strong over the anticipated period because of the major decline in freshwater supplies and strict laws and regulations. The most noticeable trend currently dominating the market is the demand for a consolidated facility for liquid treatment units for small and medium-sized industries for an entire in-situ process achieving zero discharge. A crucial component of industrial and manufacturing operations is the safe regulation of microbial activity. Biocides and disinfectants are utilized for feed, trash, and reusable treated water to ensure the proper water conditions are obtained. They are used in the ethanol and sugar industries to check that the proper conditions are met for effluent. Additionally, biocides are often employed to control bacteria during ethanol fermentation.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 69.23 Billion |
| CAGR | 6.90% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Agricultural sectors around the world are growing dramatically, especially in India. |
| Geothermal power generation and petrochemical mining and refining industries also rely heavily on good water to operate efficiently. |
Market Competitive Landscape:
The crucial players in the water treatment chemical market are:
- BASF SE (Germany)
- Akzo Nobel NV (Netherlands)
- Solenis LLC (US)
- Ecolab Inc (US)
- Kemira OYJ (Finland)
- Lanxess (Germany)
- DuPont (US)
- Baker Hughes (US)
- Suez SA (France) and
- Lonza Group (Switzerland)
Market U.S.P. Covered:
Market Drivers:
Growing demands from the sugar and ethanol, fertilizer, geothermal power production, petrochemical production, and refining industries, particularly in emerging economies, might be blamed for the growth. Additionally, the Middle East and Africa are predicted to experience encouraging market expansion due to the expanding use of saline water treatment to meet the region's rising water demand. The most common technology utilized throughout the Middle East is desalination. Oil and gas became a significant end-use sector due to the high demand in oil refineries and large wastewater production. Steam and water are used in various operations at chemical and petroleum refineries, including cooling towers, fluid catalytic cracking, and steam generators. Due to the lack of clean water, efficient treatment techniques are required to run petroleum refineries and chemical industries sustainably and reliably. Over the projection period, it is anticipated that this will increase demand.
Market Restraints:
The market for water treatment chemicals is being held back by alternative water treatment technologies such as ultrafiltration, reverse osmosis (RO), and UV disinfection. Modern technologies reduce the need for chemical water treatment. End users are looking for sustainable water treatment lifestyles due to growing environmental concerns and laws.
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COVID 19 Analysis
Although there is a demand for clean, plentiful water, the market for water treatment chemicals will grow slowly because several countries have banned manufacturing and production due to the COVID-19 epidemic. Globally, the COVID-19 pandemic has had a detrimental effect on several businesses and nations. Lockdown adoption has slowed electronics part manufacture globally, limiting the market expansion for water treatment chemicals. The delivery of raw materials needed to manufacture electrical components has also been delayed.
Regulations governing the import and export of chemicals and raw materials impact the supply chain due to the COVID-19 pandemic. As a result, the raw material shortage affected the manufacturing of water treatment chemicals, which also impacted the market expansion. Up to 2021, it is anticipated that tight company closures and production outages caused by staff illnesses will restrain market growth for water treatment chemicals.
Market Segmentation
By type, the market includes corrosion inhibitors, scale inhibitors, coagulants & flocculants, and biocides & disinfectants. By application, the market includes chemical processing, power generation, municipal water treatment plant, and others.
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Regional Insights
Due to the abundance of oil and gas in the Middle East and North Africa, these regions will have significant CAGRs. Because of this, there is a high need for clean water during active exploration efforts. Because they are predominantly arid areas, the Middle East and North Africa lack many reliable supplies of natural drinking water. Most of these nations are looking to the Arabian Sea for their drinking water demands. The problem is that this water needs to be treated to make it safe to drink because it is very saline. As a result, the market growth rate for water treatment chemicals is anticipated to be very high. There are several factories in the European Union. These require much good water to function at their best. Additionally, they release many toxins and hazardous compounds in their wastewater. The largest market share belonged to North America.
In some parts of North America, technological advancement in hydraulic fracturing has led to an increased quantity of alternative sources, including shale gas and tight oil. As a result, water treatment facilities are now more prevalent in the upstream oil and gas industry, which is anticipated to have a significant positive impact on the market throughout the forecast period. The need for water-treatment chemicals has increased as people become more aware of the need for clean, safe water and government rules governing wastewater treatment. The market for chemicals used in water treatment is currently well-established in North America and Europe. The improvement in water quality and strict adherence to environmental rules are primarily responsible for the market expansion in these areas.
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