Water Treatment Chemicals Market Market Booms, Resulting in Growth of the Market 2023 Worldwide
In recent years, countries such as India, China, and Thailand have witnessed rapid economic growth which is characterized by large-scale industrialization, development of new power projects, and expansion of housing projects. Though the economic growth in these countries have helped in the improvement of lifestyle in these nations, the economic growth in these countries has also resulted in large-scale emission of pollutants in water bodies. Due to the growing concern of water pollution in these countries, the need for water treatment is also mushrooming, thus providing lucrative growth opportunities for the water treatment chemicals market in the coming years.
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On the basis of application, the water treatment chemicals market is categorized into power generation, municipal water treatment, chemical processing, pulp and paper, food and beverages, metal and mining, oil and gas, construction, and others. Others include medical and agriculture applications. Of these, municipal water treatment has been accounting for the highest consumption of water treatment chemicals till now, with more than 30.0% contribution in 2017. Increasing need of meeting the ever-increasing demand of clean water is driving growth of these chemicals in the municipal use.
During the forecast period, the fastest growth in volume sales of these chemicals, is expected in Asia-Pacific (APAC), with a CAGR of 6.3%. The APAC water treatment chemicals market is driven by the rising need for treating the used and contaminated water released from industries, power plants, and construction projects. China and Japan are among the leading countries which account for high consumption of chemicals for treating the waste water. Japan is another leading nation in the market, which has strict environment protection laws which mandate the proper treatment of waste water from housing and industrial processes. With the growing consciousness and need to preserve the fresh water, the water treatment chemicals market is expected to grow during the forecast period in the region.
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Based on type, the water treatment chemicals market is categorized into coagulants and flocculants, corrosion inhibitors, scale inhibitors, chelating agents, biocides and disinfectants, PH adjusters and stabilizers, anti-foaming agents, oxygen scavengers, oxidants, and others. Of these, coagulants and flocculants was the largest type in the market, contributing a revenue share of more than 30.0% in 2017. The largest share of the type is attributable to their wide usability in textiles, food, slaughterhouses, and power generation applications, over other types.
Some of the major players operating in the global water treatment chemicals market are BASF SE, Solenis LLC, Ecolab Inc., Kemira Oyj, SUEZ, SNF s.a.s., Akzo Nobel N. V., Lonza Group Ltd., Buckman Laboratories International Inc., and DowDuPont Inc.