The report “Water Treatment Chemicals Market by Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, Chelating Agents), End-Use (Residential, Commercial, Industrial) and Region – Global Forecast to 2027”, size is estimated to be 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.
Some of the prominent key players are:
· 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)
· Arxada (Switzerland)
Driver: Stringent water and wastewater regulations
Regulatory and sustainability mandates pertaining to water and wastewater treatment have increased the demand for the treatment of wastewater. These regulations are especially stringent in developed regions such as North America and Europe. For instance, The Clean Water Act regulation implemented by the US Environmental Protection Agency (EPA) controls water pollution by regulating the sources that discharge pollutants into waters. In Canada, the Wastewater Effluent Regulations established under the Fisheries Act include minimum effluent quality standards that can be achieved through wastewater treatment. Other regions also have regulations which supports the growth of the water treatment sector. Stringent government regulations regarding water and wastewater treatment will boost the water treatment sector, further driving the water treatment chemicals market
Based on type, the corrosion inhibitors is projected to be the fastest growing segment in the water treatment chemicals market
Corrosion inhibitors is projected to grow at the highest CAGR in the overall water treatment chemicals market, in terms of value. This type of water treatment chemical is used to control or reduce the process of corrosion and prevent degradation of metal surfaces in various equipment. These are utilized in industrial applications to prevent corrosion and degradation of equipment such as boilers and cooling towers. Growing oil & gas industry is expected to support the growth of the market.
Asia Pacific is projected to grow the fastest in the overall water treatment chemicals market during the forecast period
Asia Pacific is projected to be the fastest growing region for water treatment chemicals between 2022 and 2027. The emerging economies of the region such as China, India, Indonesia, and South Korea are witnessing increasing demand of water treatment chemicals due to rising awareness about the water and wastewater treatment coupled with the rapid industrial and infrastructural development. These factors are expected to support the growth of water treatment chemicals market in the Asia Pacific region. Additionally, the government regulations towards water treatment are increasing the demand of water treatment chemicals in the region.
About MarketsandMarkets™
MarketsandMarkets™ has been recently recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
Founded in 2009, MarketsandMarkets recognized uncharted business potentials within disruptive trends, forecasting a surge of $25 trillion in new B2B revenues by 2030. In our 13-year journey, we’ve collaborated with over 10,000 companies, generating $140+ billion in revenue impact. From a market research publisher, we’ve transformed into a growth-enabling leader, backed by a 1500+ strong team.