Increasing demand for chemically treated water from various end-use segments and stringent regulatory and sustainability mandates concerning the environment is driving the market for Water Treatment Chemicals.
JERSEY CITY, N.J, Dec. 2, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Water Treatment Chemicals Market" By Product (Corrosion inhibitors, Scale inhibitors, Chelating agents), By End-Use Industry (Residential, Commercial, Industrial), and By Geography. According to Verified Market Research, the Global Water Treatment Chemicals Market size was valued at USD 35.87 Billion in 2020 and is projected to reach USD 74.92 Billion by 2028, growing at a CAGR of 8.5% from 2021 to 2028.
With rising awareness toward clean & safe water along with the government regulations toward wastewater processing, there is an increase in demand for water treatment chemicals. In North America and Europe, the market for water treatment chemicals is already well established. The market growth in these regions is mainly attributed to the rise in water quality and strictly following environmental regulations. Additionally, the market is expected to witness promising growth in the Middle East and Africa owing to the growing adoption of a saline water treatment in order to fulfill the increasing water demand.
The region emerged as one of the prominent consumers of industrial chemicals owing to the large consumption of water for industrial sectors such as petrochemical and oil and gas. The Water Treatment Chemicals Market for flocculants and coagulants, defoamer, corrosion inhibitor, and pH booster among others are expected to experience exponential growth owing to the rapid development of the industrial sector and urbanization. As there is a significant decrease in freshwater resources coupled with stringent rules and regulations, the demand for these chemicals is estimated to remain high over the forecasted period.
In addition, the introduction of a number of nanotechnology-based technologies is helping in the reduction of the use of chemicals in water treatment. Such alternative technologies are a restraint for the growth of the Water Treatment Chemicals Market. The increasing concern regarding the impact of chemicals on the environment has led to stringent regulatory constraints for water treatment chemicals manufacturers.
In Jan 2019, Kemira signed an agreement to establish a joint venture Kemira Yongsan Chemicals Co., Ltd in Ulsan, Republic of Korea, with Yongsan Chemicals, a privately-owned chemical company in South Korea. This joint venture in South Korea is aimed at expanding Kemira's presence in Asia Pacific and driving profitable growth in the region.
In January 2019, BASF merged its paper wet-end and water chemicals business with Solenis. The combined business is expected to operate under the Solenis name and offer increased sales, service, and production capabilities across the globe.
The major players in the market are BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ, Baker Hughes, Lonza, The Dow Chemical Company, Snf Floerger, and Suez S.A.
Verified Market Research has segmented the Global Water Treatment Chemicals Market On the basis of Type, End-Use Industry, and Geography.
Water Treatment Chemicals Market, By Type
Biocides & disinfectants
Coagulants & flocculants
ph adjusters and stabilizers
Water Treatment Chemicals Market, By End-Use Industry
Water Treatment Chemicals Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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