CHICAGO, April 8, 2021 /PRNewswire/ -- According to the new market research report "Water Treatment Chemicals Marketby Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, Chelating Agents), End-Use (Residential, Commercial, Industrial), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Water Treatment Chemicals Market size is projected to grow from USD 39.1 billion in 2021 to USD 61.1 billion by 2026, at a CAGR of 9.3% between 2021 and 2026.
Water treatment chemicals are chemical formulations used for the decontamination and purification of water for commercial, municipal, and industrial purposes. The type and degree of water treatment strongly depend on the source of the water and its intended use. Water for domestic use has to be thoroughly disinfected to remove microorganisms before supply to households. On the other hand, industrial water may contain microorganisms, but must be treated to a certain extent to turn the water soft and to prevent scale formation and corrosion.
In terms of value, the corrosion inhibitors segment is projected to account for the largest share of the Water Treatment Chemicals Market, by type, during the forecast period.
Corrosion inhibitors is projected to be the largest type segment in Water Treatment Chemicals Market. The use of poor quality water in cooling systems and increased water recycling will boost the market for corrosion inhibitors during the forecast period. In addition, the increasing demand from the oil & gas industry will propel the market for this type of water treatment chemicals.
Industrial is projected to register the highest CAGR during the forecast period.
The demand for water treatment in the industrial sector is increasing due to rapid industrialization in developing countries and substantial growth in several key markets. Every industry consumes water for a variety of applications in include metal & mining, chemical processing, food & beverage, oil & gas, paper & pulp, and power generation that require water treatment chemicals to treat the usage of essential water.
The APAC region leads the Water Treatment Chemicals Market in terms of volume.
APAC is the fastest-growing region for Water Treatment Chemicals Market. The growth in demand for water treatment chemicals in the region can be largely attributed to factors such as high population, increasing industrial growth, and stringent environmental norms. Moreover, the rising number of end-use industries in the region is also leading to innovations and developments in the field of water treatment chemicals, thereby fueling the growth of the APAC Water Treatment Chemicals Market.
Major players operating in the global Water Treatment Chemicals Market include BASF SE (Germany), Ecolab Inc. (US), Solenis LLC (US), Akzo Nobel N.V. (Netherlands), Kemira OYJ (Finland), Baker Hughes (US), Lonza (Switzerland), The Dow Chemical Company (US), Snf Floerger (France), and Suez S.A. (France).
Flocculant And Coagulants Market By Type (Flocculant (Anionic, Cationic), Organic Coagulant, and Inorganic Coagulant), End-Use Industry (Municipal Water Treatment, Pulp & Paper, Textile, Oil & Gas, Mining), and Region
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