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 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Water treatment chemicals are used for potable water treatment and industrial water treatment purposes. These chemicals help remove suspended solids, reduce turbidity, and eliminate microbial contaminants from water sources. They ensure the removal of hardness causing ions like calcium and magnesium and deliver soft water.
Market key trends:
One of the key trends in the water treatment chemicals market is growing adoption of bioremediation. Bioremediation utilizes naturally-occurring microorganisms like bacteria, fungi and green plants to degrade or break down hazardous substances into less toxic or non-toxic substances. It is an emerging and cost-effective technology for treating various types of contaminated water and wastewater. The use of microbes for contaminant removal prevents the generation of toxic wastes and can completely mineralize many organic pollutants into carbon dioxide, water and mineral salts. With strict environmental regulations regarding disposal of toxic and hazardous chemicals, bioremediation is gaining traction in the market. Many leading players are investing in research and development of novel bioremediation processes and products to treat industrial wastewater and remove agricultural and pharmaceutical pollutants from water.
Segment Analysis
The global water treatment chemicals market is segmented by type, end use and region. Based on type, the market is classified into coagulants & flocculants, corrosion & scale inhibitors, antifoamants & defoamers, biocides & disinfectants, pH adjusters & softeners and others. Among these, the coagulants & flocculants segment dominates the market due to its wide industrial application in waste water treatment, potable water treatment and process make-up water treatment. This segment removes impurities and suspended particles from water and helps produce clearer treated water.
Key Takeaways
The global Water Treatment Chemicals Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing industrialization and urbanization leading to rise in demand for clean water.
Regional analysis - Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period owing to rapid growth of industries including power generation, oil & gas and mining in countries such as China and India.
Key players operating in the water treatment chemicals market include BASF S.E., Suez S.A., Kemira OYJ, BWA Water Additives, Ecolab Inc., Cortec Corporation, DowDuPont Inc., Baker Huges Incorporated, Akzo Nobel N.V., and Solenis LLC. Major players are focused on developing innovative and sustainable product offerings to strengthen their market position and cater to the increasing demand for clean water.
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