They are commonly used in various industries as well as for municipal applications. Chemicals such as coagulants and flocculants are used for treatment of water bodies as well as industrial wastewater. They help settle down suspended solids and eliminate other pollutants.
The global Water and Wastewater Treatment Chemicals Market is estimated to be valued at US$ 40711.39 Bn in 2024 and is expected to exhibit a CAGR of 36. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapid urbanization has led to the generation of increased volumes of wastewater across countries. According to data by the World Bank, urban population is expected to grow annually by 60 million people worldwide between 2020 and 2030. Growing municipal wastewater due to urban population growth has accelerated the demand for advanced water and wastewater treatment methods which employ chemicals. Water and wastewater treatment chemical manufacturers are developing novel products that can effectively treat wastewater at lower costs for urban local bodies. Technological advancements for optimization of treatment processes are also fueling the demand from this segment.
Segment Analysis
The global water and wastewater treatment chemicals market has two key segments - coagulants and flocculants. Coagulants is the dominating sub-segment currently accounting for more than 30% of the market share. This is because coagulants are widely used in water treatment plants across industries for clarification of feed water by neutralizing charges on suspended solids.
Key Takeaways
The Global Water And Wastewater Treatment Chemicals Market Size is expected to witness high growth.
Regional analysis: Asia Pacific region accounted for the highest share currently in the global water and wastewater treatment chemicals market owing to fast industrialization and urbanization in major economies like China and India. Rapid urbanization has increased the need for clean water and wastewater treatment.
Key players operating in the water and wastewater treatment chemicals market are Honeywell International, Hamamatsu Photonics K.K., Daylight Solutions, Cascade Technologies, M Squared Lasers Limited, Teledyne FLIR LLC, IPG Photonics Corporation, Changchun New Industries Optoelectronics Tech. Co., Ltd. Honeywell International and Hamamatsu Photonics K.K. have a strong global presence with wide product portfolio and leading R&D capabilities in water treatment chemicals.
Get More Insights On This Topic: https://www.ukwebwire.com/water-and-wastewater-treatment-chemicals-market-size-share-analysis-2023-2030/
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