Water Treatment Chemicals Market Is Estimated To Witness High Growth Owing To Stringent Regulations on Wastewater Discharge

 

water treatment chemicals market 


The 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Water treatment chemicals are used for purification of water and removal of contaminants. They help in coagulation, flocculation, sedimentation and filtration processes to obtain potable water for industrial and municipal uses. They are utilized in end use industries such as power, oil & gas, mining, chemical, food & beverage and municipal.

Market Dynamics:
The global water treatment chemicals market is primarily driven by stringent regulations regarding wastewater discharge from industries and municipalities. For instance, according to the United States Environmental Protection Agency (EPA), the Clean Water Act was passed in 1972 which prohibit discharge of pollutants from point sources into water bodies unless allowed by permit. Other major driver is growing demand for clean water from various end use industries such as power generation, chemical manufacturing, mineral processing, and oil & gas exploration. Municipal potable water treatment is another major application driving the growth of this market. Furthermore, water scarcity issues especially in developing regions has prompted industries and municipalities to adopt water reuse and recycling practices which require effective water treatment chemicals. This is expected to fuel market growth over the forecast period.

SWOT Analysis:

Strengths:
- Large customer base with increasing demand from industries and municipalities.
- Wide product portfolio offering various chemicals for different water treatment applications.
- Continuous technological advancements to develop sustainable and eco-friendly water treatment solutions.

Weaknesses:
- Stringent regulations for production and usage of certain chemicals.
- High R&D costs associated with development of innovative products.

Opportunities:
- Growing focus on reclamation and reuse of water to tackle water scarcity issues worldwide.
- Emerging markets in Asia Pacific and Latin America expected to offer new business opportunities.

Threats:
- Volatility in raw material prices affects the overall production costs.
- Availability of alternative water treatment technologies poses competition.

Key Takeaways
The Global Water Treatment Chemicals Market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing industrialization and stringent wastewater discharge norms.

The market size for 2023 is US$ 40.53 Bn. Rapid industrialization and urbanization in emerging economies of Asia Pacific is propelling the demand for water treatment chemicals in the region.

Regional analysis:
Asia Pacific dominates the global market and is estimated to continue its dominance, growing at a CAGR of over 7% during the forecast period. China, India, and Japan together account for over 50% of the regional market share due to massive infrastructural developments and heavy investment in water treatment.

Key players:
Key players operating in the global 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.

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