- Increase in demand for clean water for municipal & industrial applications, strict regulations regarding wastewater discharge, and rise in investments in the industrial sector propel the growth of the global water treatment chemicals market
PORTLAND, Ore., Oct. 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Water Treatment Chemicals Market by Type (Coagulants, pH Adjusters & Softeners, Flocculants, Biocides & Disinfectants, Scale Inhibitors & Dispersants, Corrosion Inhibitors, and Others) and End-Use Industry (Industrial and Municipal & Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report published by Allied Market Research, the global water treatment chemicals market garnered $33.3 billion in 2019, and is projected to generate $46.5 billion by 2027, witnessing a CAGR of 5.1% from 2020 to 2027.
Prime determinants of the market-
Increase in demand for clean water for municipal & industrial applications, strict regulations regarding wastewater discharge, and rise in investments in the industrial sector propel the growth of the global water treatment chemicals market. Nevertheless, accessibility of alternative water treatment methods and ill-effects of chemicals during the water treatment impede the market growth. However, utilization of silver-based biocides in water treatment and increase in demand from emerging countries are anticipated to usher new opportunities in the near future.
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- Due to the lockdown and stringent regulation issued by the governments the manufacturing activities have been stopped. This has impacted the production volume. On the other hand, the supply chain disruptions have caused shortage of raw material which further affected the manufacturing activities.
- The halt in industrial activities impacted the demand at the initial stages. However, the relaxation of restrictions are further anticipated to assist the market to recoup soon.
The corrosion inhibitors segment is anticipated to dominate the market by 2027-
Based on type, the corrosion inhibitors segment contributed to the largest market share in 2019, accounting for more than one-fifth of the global water treatment chemicals market, and is projected to maintain its lead status during the forecast period. This is attributed to the increase in demand to prevent corrosion in various equipment from the oil & gas sector, chemical, pulp & paper, and other industries. However, the scale inhibitors & dispersants segment is estimated to manifest the highest CAGR of 6.1% from 2020 to 2027. This is owing to the rise in demand for scale inhibitors to decrease the concentration of scale-forming compounds that accumulate in water and disposal wells, surface equipment, and flow lines.
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The industrial segment held the lion's share in 2019-
Based on end-use industry, the industrial segment accounted for the highest market share, contributing to more than three-fifths of the global water treatment chemicals market in 2019, and is expected to maintain its dominant share by 2027. This is attributed to the increase in number of industries that utilize large amount of water in manufacturing processes and rise in water usage. However, the municipal & others segment is anticipated to grow at the highest CAGR of 5.2% during the forecast period. This is owing to growing demand for safe drinking water from the residential and other municipal sector applications.
Asia-Pacific, followed by North America, to lead the trail by 2027-
Based on region, the Asia-Pacific, followed by North America, held the largest share of the global water treatment chemicals market, contributing to nearly two-fifths of the total share in 2019, and will continue its leadership position during the forecast period. In addition, the same region is anticipated to manifest the fastest CAGR of 5.4% from 2020 to 2027. Rise in standards of water quality, strong economic growth, environmental concerns, and infrastructure development of water treatment facilities in the region drive the growth of market in this region.
Leading players of the market-
- Akzo Nobel N.V.
- BASF SE
- Baker Hughes Company
- Kemira OYJ
- Ecolab Inc.
- SNF Floerger
- Lonza Group AG
- Suez SA
- Solenis LLC
- Dow Chemical Company.
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