Water Treatment Chemicals Market Is Anticipated To Witness High Growth Owing To Increasing Demand From Power Generation Industry
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Water Treatment Chemicals Market |
Water treatment chemicals are widely used for the
purification and improvement of qualities of water. They help to remove
contaminants, suspended solids, bacteria and other microorganisms present in
raw water. Water treatment chemicals find applications in several industrial
end-use sectors such as power, oil & gas, chemical processing, mining, and
municipal drinking water treatment. The rising demand for clean water from
various end-use industries is a key factor fuelling the demand for water
treatment chemicals.
The global water treatment chemicals market is estimated to
be valued at US$ 46.7 Bn in 2024 and
is expected to exhibit a CAGR of 7.6%
over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the water treatment chemicals market are Sisecam
Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey,
Inc., ARC International, Anchor Hocking, and Lenox Corporation. These players
are focusing on geographical expansion and acquisitions to enhance their market
share.
The rising demand for clean water from industries such as power generation, oil
& gas, and municipal use is creating lucrative opportunities for players in
the market. Additionally, stringent regulations regarding waste water disposal
are positively impacting the market. Further, growing industrialization in
emerging economies of Asia Pacific and Central & South America are expected
to drive the adoption of water treatment chemicals.
Key global players in the market are undertaking strategic initiatives such as
merger and acquisitions to capture high growth markets. For instance, Sisecam
Group acquired various glassware companies in Europe and the US to expand
globally. Additionally, Bormioli Rocco has enhanced its presence in South
America by opening new production plants in Brazil and Chile.
Market Drivers
the growing Power Generation industry: Rapid industrialization and
urbanization have led to a rise in demand for electricity. This is augmenting
the power generation industry which is one of the largest end-users of water
treatment chemicals. Thermal power plants require significant amounts of
treated water for their operations.
Market Restrains
Stringent Environmental Regulations: Stringent regulations regarding the
disposal of produced wastewater is a key challenge for players in the market.
This increases compliance costs. Additionally, volatile raw material prices can
negatively impact the margins for manufacturers.
Segment Analysis
The Water
Treatment Chemicals Market Size is divided into various segments based
on type and end-use industries. The type segment is further categorized into
coagulants & flocculants, pH adjusters & softeners, biocides &
disinfectants, scale inhibitors & corrosion inhibitors and others. Among these,
the coagulants & flocculants segment dominates the market currently due to
its extensive use in removing suspended solids from wastewater during
processing before discharge. The chemical treatment helps reduce the turbidity
and clarifies the water.
Global Analysis
Regionally, Asia Pacific region is growing at the fastest rate in the water
treatment chemicals market owing to increasing industrialization and rising
demand for clean water from various end-use industries like power generation,
chemical processing, mining etc. China, India and other developing economies
are contributing majorly to market growth. Stringent regulations regarding
discharge of industrial wastewater along with growing concerns over freshwater
shortage is driving immense opportunities in countries like India, Indonesia,
Vietnam and others. North America and Europe currently dominates the global
market share due to established industries and developed wastewater treatment
facilities. However regulations in these regions are becoming more stringent
regarding zero liquid discharge which is opening up new revenue pockets.
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