Water Treatment Chemical Market Size, Global Opportunities, Sales Revenue, Growth Factors, Developments, Regional Trends, Future Prospects and Potential of the Industry Till 2025
Accessibility to fresh water is essential for social, economic development, ecosystem, and human health. Increasing population is growing environmental pressure for adequate and safe water supplies, challenging economic growth. To overcome the challenge, government authorities and non-profit organizations are stressing on low environmental pollution and improving waste wastewater management. Water management for unconventional shale gas extraction is a rising issue surrounding the gas industry. Hence, reuse of produced water for hydraulic fracturing is currently addressing the concerns regarding the vast quantities of contaminants that are brought to the surface. Implementation of water management becomes essential for the shale gas industry which is driving the global water treatment chemical industry.
According to a new market report published by BlueWeave Consulting, the Global water Treatment Chemicals market was valued at US$ 23.56 Bn in 2017 and is expected to expand at a CAGR of 5.70% from 2018 to 2025, reaching US$ 37.25 Bn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the Global water treatment chemicals market in 2017.
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Increasing demand from industrial and municipal wastewater treatment is driving the Global Water Treatment Chemicals market
According to UNESCO 2017, worldwide over 80% of wastewater is released to the environment without adequate treatment. Around 1.8 billion people use a source of drinking water contaminated with microorganisms, risking of contracting cholera, dysentery, typhoid, and polio. Wastage of water has become one of the major challenges for both developed and developing economies with an increase in the manufacturing industry. Numerous government and non-government organizations are actively participating to save fresh water and natural resources. For instance, average high-income countries treat about 70% of the wastewater they generate, while 38% of wastewater is only treated in upper-middle-income countries and 28% in lower-middle-income countries. Further, in low-income countries, only 8% of industrial and municipal wastewater undergoes treatment of any kind, reported by the United Nations Educational, Scientific and Cultural Organization in 2017. Thereby, wastewater treatment chemicals products demand will increase globally owing to the rise in consumers awareness regarding depletion of natural resources and scarcity of freshwater in developed countries, surging the need for wastewater treatment chemicals
Biocides & Disinfectants- Fastest Growing Water Treatment Chemicals Product Type
Biocides and Disinfectants are growing rapidly with a CAGR of 6.3%, in terms of value, during the forecast period owing to the rising consumer awareness and stringent global environmental biocidal products regulations on water preservation and management. Moreover, a majority of the current population does not have access to clean water. Rising population across the globe increases the demand for clean water, which also drives the biocides and disinfectants market
North America was the largest region in the global water treatment chemicals market in 2017 with a market share of 31% and it is estimated to grow over a CAGR of over 5.38% during 2018–2025.
Global Water Treatment Chemicals Market: Competitive Dynamics
Companies, such as BASF SE, Solvay S.A., DowDuPont, Ecolab Inc., Suez S.A., and Baker Hughes Incorporated are the key players in manufacturing water treatment chemicals globally. In terms of product offerings, BASF SE and Ecolab Inc. are the major players in the market, providing chemicals for water treatment. Most of the major vendors in the Global Water Treatment Chemicals Market are actively focused on enhancing their offerings to meet the ongoing demand.
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