Global Water Treatment Chemicals Market Expected to Grow
Source P&S Market Research
According to market research "Global Water Treatment Chemicals Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Coagulants and Flocculants, Corrosion Inhibitors, Scale Inhibitors, Chelating Agents, Biocides and Disinfectants, PH Adjusters and Stabilizers, Anti-Foaming Agents, Oxidants, Oxygen Scavengers, Others) and by Application (Power Generation, Municipal Water Treatment, Chemical Processing, Pulp and Paper, Food and Beverages, Metal and Mining, Oil and Gas, Construction, Petroleum Refining, Others)" by P&S Market Research, the global water treatment chemicals market was valued at $16,853.5 million in 2015, and it is expected to grow at a CAGR of 5.6% during 2016 to 2022.
The major factors driving the growth of the market globally include increasing demand for water and its treatment and stringent environmental regulations. In addition, the increasing concern of governments in developing countries for providing safe drinking water to their citizens is expected to drive the growth of the water treatment chemicals market. The health problems due to unavailability of safe drinking water have been one of the major reasons for the outbreak of diseases in developing countries. Contaminated water is home to microorganisms, which cause several diseases including diarrhea, cholera and hepatitis. Every year, these diseases lead to 5 million deaths globally. This has increased the concern of governments to improve the safety level of water. Several developing countries have been using chlorination for disinfection of public water. However, the advent of new diseases, such as Cryptosporidium and Legionella pnemophilla that are resistant to chlorine, has been compelling the governments in countries such as China and South Africa to use newer technologies for tackling the health hazards caused by contaminated or unsafe water.
Among the various types of water treatment chemicals, the coagulants and flocculants segment held the largest share in the global water treatment chemicals market in 2015. The scale inhibitors type segment is expected to witness the fastest growth during 2016 to 2022. In the global water treatment chemicals market among the various applications, the municipal water treatment segment held the largest share in the global market in 2015.
In 2015, North America held the largest share in the global water treatment chemicals market with 31.8% share. In 2015, Asia-Pacific was the second largest market in the global water treatment chemicals market, accounting for approximately 29.2% share, which is expected to account for the largest share in the global market with 33.0% share by 2022. The increasing level of urbanization and rapid industrialization are some of the major growth driving forces in the Asia-Pacific water treatment chemicals market, particularly in countries such as India and China. China is the largest market for water treatment chemicals in the region; however, India is expected to witness the highest growth in the near future. The rapid growth of urban population is creating pressure on the existing water infrastructure, which includes delivery of utility water and removal and treatment of wastewater. To overcome this situation, various governments in Asia are expected to increase their spending on irrigation and drinking water schemes. Moreover, the economic growth along with industrialization has increased the demand for water treatment chemicals.
Some of the major players operating in the global water treatment chemicals market include Akzonobel NV, Ashland Corporation, GE Water & Process Technologies, Air Products And Chemicals Inc., BASF SE, Buckman Laboratories Intl. Inc., Cortec Corporation, Kemira Oyj, Lonza Group LTD., and The Dow Chemical Co.
Source: P&S Market Research