The Global Water Treatment Chemicals market was estimated at USD 31.3 billion in 2020, and it is projected to reach USD 48.5 billion by 2027, growing at a CAGR of 6.2% during the forecast period 2017 - 2027
Rapid growth in the water borne diseases along with increasing adoption of saline water treatment across the globe are the prominent factors driving the growth of the global water treatment chemicals market.
The major factor driving influencing the global water treatment chemicals market is the increasing gap between the demand and supply of water. Owing to this, there is a growing need to efficiently recycle water which can be done by treating it with water treatment chemicals. Therefore, many developing economies, socially, economically and environmentally are preferring to recycle waste water to cater their ongoing development process. Thereby, due to the rising demand to recycle waste water is majorly driving the waste water chemical market. In addition, the rapid growth in the water borne diseases is also contributing to the rising demand of water treatment chemicals. According to the WHO, waterborne diseases is the primary cause of death and accounts for more than 3.4 million deaths every year across the globe.
Water treatment chemicals helps in eliminating algae, bacteria, suspended solid materials and viruses from the untreated water and thus help in reducing water borne diseases. Owing to this, governments in several major economies has implemented various regulations towards waste water processing which is majorly driving the demand for water treatment chemicals. Further, the growth in several industries such as power, mining, chemical industries, oil & gas that highly depend on consumption of water are prominently driving the global water treatment chemicals market.
Moreover, the increasing adoption of saline water treatment is also expected to highly influence the growth of water treatment chemicals market. Desalination is the most prominent technology used to address the issues relating to acute water scarcity in drought hit and arid regions. Economies, such as Israel, Saudi Arabia and many other, largely depend on the desalination for meeting their water requirements. For instance, Saudi Arabia highly depend on desalination technology as about 50% of the drinking water in the country comes from desalination. Therefore, these economies are rapidly investing desalination plants to meet the ever-increasing water demand.
For instance, in 2020, Saudi Arabia has allocated $24.3 billion for the construction of desalination plants and currently accounts to over 31 desalination plants in total. Water treatment chemicals such as coagulants & flocculants, pH adjuster & softener, biocide & disinfectant are indispensable materials used in the pre-treatment and post-treatment process of desalination. Thus, rapid adoption of desalination technologies by several economies is highly expected to drive the water treatment chemicals market.
Despite strong growth factors, the global water treatment chemicals industry has faced certain challenges such as the availability of alternative water treatment technologies such as such as RO filtration, ion exchange and UV disinfection. These advanced technologies are reducing the use of chemicals in water treatment processes by a large extent. However, these advanced technologies require huge initial investments, which are not always feasible. In addition, the operating costs required in treating water through physical purification is relatively higher than the water treatment chemicals. Therefore, the purification of water using chemicals is serving to be more cost-effective method and is being widely adopted by several end-use industries.
Global Water Treatment Chemicals Market by Region Outlook (Revenue, USD Billion, 2017-2027)
Based on region, the Asia-Pacific region is expected to hold the largest share in the global water treatment chemicals market during the forecast period. This growth is mainly attributed to the rapid increase in the population and the presence of large industrial base in the region. Moreover, China is the largest manufacturing hub and is therefore one of the major water polluters in the world. The unchecked discharge of harmful effluents from the industries has deteriorated the quality of water bodies in several cities in China. Therefore, the country is widely adopting water treatment techniques which is driving the water treatment chemical industry in this region.
In addition, the electricity demand in the region has been consistently increasing, owing to growing urbanization and industrialization. According to the International Energy Agency (IEA), the Asia-Pacific region is the highest consumer of electricity in all forms, such as renewable energy sources and fossil fuels. Therefore, the growth in high-capacity power plants is positively influencing the water treatment chemical industry in the region. Furthermore, due to the rising demand from the construction sector the development of new oil fields such as Wushi oil field in China is witnessing a significant growth in mining industry and however it is expected to boost the demand of water treatment chemicals market in the near future.
The Global Water Treatment Chemicals Industry Segmentation:
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the water treatment chemicals market are:
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