Water Treatment Chemicals Market Is Projected To Reach $72.03 Billion By 2028 | CAGR: 9.1% : Polaris Market Research
NEW YORK, Dec. 14, 2021 /PRNewswire/ -- The global water treatment chemicals market size is expected to reach USD 72.03 Billion by 2028 according to a new study conducted by Polaris Market Research. The market is expected to expand at a CAGR of 9.1% from 2021-2028. The global market is primarily driven by the rise in the demand for freshwater for industrial and residential applications across the globe. Growing awareness regarding clean & safe water coupled with increasing government regulations regarding wastewater processing is propelling the overall market growth. Moreover, rapid economic growth in developing economies, growing industrialization rate, and declining water reserves are some other factors working in the favor of the market.
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Key Highlights of Water Treatment Chemicals Market
- In terms of product, the coagulants segment dominated the water treatment chemicals market. Coagulants are used in the treatment process to remove 90% of the suspended solid particles from the wastewater. As both organic and inorganic coagulants gain popularity in end-use industries, the chemical will be widely used in municipal and wastewater treatment.
- Based on end-use, the industrial segment accounted for the largest revenue share in the global market, owing to increasing aqua treatments in different industries such as food and beverages, mining, chemical, paper and pulp, power, and, among others.
- WaterIQ Technologies, a renowned producer of ultrasonic technologies, provides vineyards with ecologically friendly irrigation algae control. WaterIQ Technologies' water treatment products help to restore water ecosystems to their natural state by controlling algae and biofilm.
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Regional Developments
Asia-Pacific led the major growth for the water treatment chemicals market due to increasing demand from countries such as Japan and China. China's rapid economic growth and urbanization are expected to fuel the expansion of various industries, including municipal, food and beverage, chemical, oil and gas, and power generation, resulting in an increased need for water treatment chemicals. Furthermore, the majority of China's population gets their drinking water from groundwater sources, which are either untreated or improperly treated by municipal water providers. As a result, the need for water treatment chemicals grows in this region.
Competitive Outlook
Although there are major barriers to entry, the water treatment chemicals business is lucrative in general. Many companies are either in or planning to enter the market for water treatment chemicals. That is why the competition is fierce. Organizations are discovering that the only way to survive is to invest extensively in R&D, merge with or purchase other successful companies, or form strategic collaborations with other successful companies operating in the market.
Some major industry participants include : Aries Chemical, Inc. Akzo Nobel N.V., BASF SE, BAUMINAS Group, Baker Hughes Company, Buckman, Cortec Corporation, Dow, Dorf Ketal Chemicals, Ecolab, Feralco AB, Evoqua Water Technologies LLC, Geo Specialty Chemicals, Inc., Italmatch Chemical S.p.A, Green Water Treatment Solutions, Kemira, LANXESS, Kurita Europe GmbH, Lonza, Solenis, SNF CHINA FLOCCULANT CO., LTD., Somicon ME FZC and Suez S.A.
Target Audience
- Supply Side: Chemical Company
- Demand Side: Oil & Gas Industry, Food & Beverage Industry
- Regulatory Side: Federal and State Environmental Agencies
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Polaris Market Research has segmented the water treatment chemicals market report on the basis of type, end-use, and region:
Water Treatment Chemicals Type Outlook (Revenue, USD Billion, 2016 – 2028)
- Flocculants
- Coagulants
- Corrosion Inhibitors
- pH Adjusters & Softeners
- Others
Water Treatment Chemicals End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Municipal
- Industrial
- Others
Water Treatment Chemicals Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Netherlands
- Austria
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Israel
- UAE
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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