Water Treatment Chemicals Market Size to be Worth US$ 42.2 billion by 2027, MarketsandMarkets™ Study
The global water treatment chemicals market size is estimated at USD 39.1 billion in 2021 and is projected to reach USD 35.9 billion in 2022 and is forecasted to grow to USD 42.2 billion by 2027, at a CAGR of 3.2%, during the forecast period. Alternative water treatment technologies available in the market is a major restraining factor for the water treatment chemicals market.
Water treatment chemicals are used for the treatment of water & waste water to change the physical & chemical properties of water for municipal and industrial applications. Owing to the rise in awareness toward clean & safe water along with the government regulations toward wastewater processing there is an increase in demand for water treatment chemicals. Ecolab (US) and Kemira Oyj (Finland) have a strong emphasis on R&D and have developed various types of water treatment chemicals.
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Based on types, water treatment chemicals have been segmented into coagulants & flocculants, Corrosion inhibitors, scale inhibitors, biosides & disinfectants, chelating agents, anti-forming agents, ph-adjusters & stabilizers, and others. The growing demand for cost-effective and efficient water treatment chemicals is driving the demand for these type of water treatment chemicals in the market.
Based on end user, the industrial segment is projected to lead the water treatment chemicals market in terms of volume during the forecast period. The growth of this segment of the market can be attributed to the rapid urbanization and continuously growing population across the globe. This, in turn, has led to increased demand for quality water. Moreover, increase in the number of projects being commissioned and tendered in various emerging economies across the globe is also contributing to the demand for water treatment chemicals in the industrial end user segment.
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The North American region is expected to be the largest market for water treatment chemicals during the forecast period. Large industrial base, high disposable income of masses, and their high living standards are the factors expected to fuel the growth of the North America water treatment chemicals market between 2021 and 2026. Whereas, the Asia Pacific water treatment chemicals market is projected to witness the highest growth during the forecast period, in terms of volume, owing to the rising standard of living of masses in the region that has resulted in growing demand for quality drinking water. In addition, various government initiatives and policies to attract investments from various international companies are also expected to boost the growth of the Asia Pacific water treatment chemicals market during the forecast period.
However, Growing need for eco-friendly chemical formulations and increasing incidences of patent copying are the major challenges for the growth of the water treatment chemicals market between 2022 and 2027.
Ecolab Inc. (US), Kemira Oyj (Finland), BASF SE (Germany), Solenis LLC (US), Dow Inc. (US), Nouryon (Netherlands), Baker Hughes (US), SNF Floerger (France), Kurita Water Industries Ltd. (Japan), Veolia (France), and Arxada (Switzerland) are some of the major players operating in the water treatment chemicals market.
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