The Global Water Treatment Chemicals Market Growth Accelerated By Increasing Usage In Industrial And Municipal Sectors
Water treatment chemicals are extensively used across various applications including industrial, municipal, and other sectors. They help remove impurities from water and aid in neutralizing pH levels. Sodium hydroxide, also known as caustic soda, is widely used for pH adjustment and softening process during water treatment. It reacts with other alkalis and inorganics in water to reduce scaling and corrosion. Ferric chloride, alum, and chlorine are commonly used to remove solids, heavy metals, and microorganisms from water. With rapid industrialization and growing urbanization, the demand for clean and potable water is surging significantly.
The global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing usage of water treatment chemicals in industrial and municipal sectors is propelling the market growth substantially. Industries such as power generation, oil & gas, mining, and food & beverage require treatment of large amounts of water on a daily basis. Thus, chemicals help provide clean and process water as per their operational needs. Municipal bodies are also extensively using various treatment products to make water fit for domestic consumption. With growing freshwater scarcity worldwide coupled with surging population, the demand for reliable water management solutions is amplifying rapidly. This, in turn, is expected to accelerate the consumption of water treatment chemicals over the forecast period.
Segment Analysis
The global water treatment chemicals market is dominated by the coagulants and flocculants sub-segment. Coagulants and flocculants find widespread application in the clarification of water by helping remove colloidal and suspended particles from water. They contain chemicals that clump the unwanted particles in water together. This allows the particles to be removed through settling or filtration. Furthermore, strict laws regarding effluent discharge from industrial facilities have resulted in higher demand for coagulants and flocculants from industries.
Key Takeaways
The Global Water Treatment Chemicals Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow from US$ 40.53 billion in 2024 to over US$ xx billion by 2030, registering a CAGR of around 7.6% during this period.
Regional analysis:
North America is currently the largest and fastest growing regional market for water treatment chemicals. Stringent regulations regarding water usage, recycling, and disposal in the US and Canada are driving demand. Additionally, the ageing water infrastructure in the region necessitates increased use of chemicals for purification. Key players are expanding their production capacities to better cater to regional demand.
Key players:
Key players operating in the water treatment chemicals market include Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation. Sisecam Group and Bormioli Rocco SpA have a significant market share in the region due to their wide product portfolio and vast distribution networks across the continent.
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https://www.marketwebjournal.com/water-treatment-chemicals-market-market-size-and-share-analysis/
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