Global Water Treatment Chemicals Market: Key Highlights
- According to the new market research report "Water Treatment Chemicals Market by Type (Corrosion Inhibitors, Coagulants & Flocculants), by Application (Municipal Water Treatment, Oil & Gas, Power Generation), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America,) – Global Forecast (2019 to 2027)”, the global water treatment chemicals market is projected to reach a value of USD 76 billion, registering a CAGR of around 5.8% during the review period.
- Water treatment chemicals are used to treat effluent water from major end-use industries, to make it fit for human consumption.
- The inclination towards the use of green chemicals is likely to provide growth opportunities for the players in this market
- However, the release of disinfection by-products (DBPs) during chemical treatment of water is a key restraining factor.
Global Water Treatment Chemicals Market: Key Market Dynamics
- Water treatment of effluent from major end-use industries is necessary as it may cause gastrointestinal problems, diarrhea, nausea, dehydration, and even death
- According to the UN-Water, globally,1.45 million people a year die as a result of diarrhea illness every year
- Regulations by the US Environmental Protection Agency and European Union for safe drinking water promote the demand for water treatment, which in turn, drives the demand for water treatment chemicals
Global Water Treatment Chemicals Market: Regional Overview
North America is expected to be the dominating region in the water treatment chemicals market. This is attributed to the stringent regulations by the US EPA such as the Clean Water Act, National Pollutant Discharge Elimination System, and Safe Drinking Water Act. The implementation of these law & regulations promote water treatment and thus, drive the market for water treatment chemicals.
With government initiatives such as Net Zero Imports and Make in India are expected to result in rapid industrial development, which in turn, will drive the demand for water & wastewater treatment and thus propel the need for water treatment chemicals. For instance, China invested USD 80.59 billion in its 13th Five Year Plan for wastewater treatment. New Water Ten Law, Environmental Tax Law, and Water Resource Tax Expansion are some of the major water policies in China.
Global Water Treatment Chemicals Market: Key Players Overview
- BASF SE:
- BASF SE is one of the leading chemicals company and operates through six segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Its products portfolio includes chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services. In January 2019, BASF and Solenis completed the merger of their paper wet-end and water chemicals business, as announced in May 2018.
- Kemira Oyj:
- Kemira Oyj is a global water chemistry company serving customers in water-intensive industries. The company offers chemical products and integrated systems that help customers in the water-intensive pulp and paper industry, water treatment chemicals for municipalities and industrial customers, and chemical extraction and process solutions for oil and mining industries. In October 2019, the company announced a significant capacity extension of its ferric sulfate water treatment chemicals production line in Goole, UK.
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