Treatment of water is essential for a variety of reasons such as dearth, contamination due to industrial and human activities and so on. Water purification involves the removal of suspended solids, viruses, fungi, bacteria, etc. using either physical, chemical or a combination of both methods. The chemicals used in the treatment of water are referred to as water treatment chemicals. The most commonly used chemicals are chlorine, muriatic acid, soda ash, algicide and many more.
The novel coronavirus has had a negative impact on the water treatment chemicals market.
The pandemic has resulted in lockdowns across the globe. This coerced numerous companies across various sectors to temporarily halt operations or shutdown their operations. Also, the supply chain was disrupted, which in turn affected the supply of raw materials as well as finished goods. Coupled with the supply chain disruption, the closure of manufacturing activities has resulted in the decline in production. Therefore, the growth of the water treatment chemical market is expected to be sluggish until the second quarter of 2021.
The global water treatment chemicals market, in 2020, was valued at around USD 31.3 billion. The effect of the pandemic has declined the market valuation by nearly USD 2.0 billion. Further on, it is estimated to register a compound annual growth rate of approximately 6.8% from 2021 to 2027. At this rate, it is expected to reach a valuation of approximately USD 48.5 billion by the end of 2027.
The water treatment chemicals market segment is broadly classified into product type, application, end-use industry and region.
Coagulants & flocculants garnered over 30% of the market share in 2019. Coagulants & flocculants are used for water purification, softening, solids removal and dewatering and sludge thickening. Moreover, with the upsurge in water requirements, coagulants & flocculants can help in removal of contaminants. All these factors are expected to make this segment the fastest growing among the other types.
Besides this, the biocides & disinfectants segment accounted for the second-largest market share. The segment helps achieve desired water conditions while controlling bacteria and microbial augmentation.
The raw water treatment segment led the market in 2019 capturing around 50% of the revenue share. To meet the increasing demand of water from the industrial sector, the purification of alternate water source is the need of the hour. Therefore, the dominance of this segment is attributed to the rising need of water.
In 2019, the municipal segment dominated the market in terms of revenue due to the growing usage of chemicals for municipal wastewater treatment applications. Rising water requirements as a result of soaring population and industrialization has resulted in water scarcity. The continuous and exponentially rising need to treat water has resulted in the growth of the segment.
The power industry is projected to witness the fastest growth rate during the forecast period. Power plants consume approximately 200 billion gallons of water per day for operations. An upsurge in demand for power is anticipated to drive the expansion of the segment.
North America dominated the market in 2019. The growing initiatives to use water treatment chemicals for domestic applications is estimated to fuel the regional market growth. The National Infrastructure Plan (NIP) launched by the Mexican government in 2019 will augment the regional market further.
The Asia – Pacific region is projected to dominate the market during the forecast period due to rising demand from countries such as China and Japan. Rapid urbanization and stable economic conditions in China will propel the expansion of several industries which, in turn, will drive the water treatment chemicals market growth. An upsurge in the number of chemical manufacturing plants and evolving power industry in India is anticipated to positively affect the regional market growth.
The growing concern of Waterborne diseases will propel the market growth significantly
The large-scale discharge of untreated water from industries, power plants, commercial waster has made numerous water sources unfit for human consumption. The number of cases related to waterborne diseases is increasing at an alarming rate since fresh water reserves are being contaminated with high level of toxic waste. Therefore, to prevent the spread of these diseases, treatment of water has been made mandatory by global governments. The rising number of cases and the corresponding regulations implemented by governments will positively impact the water treatment chemicals market growth.
Desalination will present new opportunities for the market to flourish.
Countries with limited freshwater reserves such as U.A.E., Qatar, Saudi Arabia, etc. are looking for alternative methods to meet their water requirements. The process of desalination assists in converting seawater into potable water. Therefore, the demand for this technology will propel the water treatment chemicals market since desalination requires a variety of water treatment chemicals.
The major players of the water treatment chemicals market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.