Water
and wastewater treatment chemicals are extensively used for purification of
water bodies and treatment of industrial and municipal wastewater. Chemicals
such as coagulants, flocculants, corrosion and scale inhibitors are widely used
for water treatment across various end-use industries. Rising demand from
municipal sector is expected to provide impetus to market growth over the
forecast period. The global Water and Wastewater Treatment Chemicals Market is
estimated to be valued at US$ 35339.74 Mn in 2023 and is expected to exhibit a CAGR of 36% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The demand for water and wastewater treatment chemicals is expected to increase
significantly from the municipal sector over the forecast period. Stringent
regulations regarding wastewater disposal and growing concerns regarding clean
water supply are compelling municipal bodies worldwide to invest heavily in
upgrading their existing water and wastewater treatment infrastructure.
Moreover, rapid urbanization has increased the pressure on municipal bodies to
provide potable water and treat effluents, which is propelling the adoption of
advanced water treatment technologies and chemical-based treatment processes.
The increasing spending on water and wastewater management by various
municipalities around the world will drive the water and wastewater treatment
chemicals market during the forecast period.
Segment Analysis
The
global
water and wastewater treatment chemicals market size is divided into
two major segments - flocculants and coagulants. Flocculants form the dominant
segment currently accounting for over 40% of the market share. Flocculants are
widely used in water treatment plants for solid-liquid separation in sludge
thickening and dewatering. They help in clustering together fine suspended
solids in water and making them settle down faster. This brings efficiency in
water treatment operations.
Key Takeaways
The global water and wastewater treatment chemicals market is expected to
witness high growth over the forecast period of 2023 to 2030. Rapid
urbanization coupled with rising urban population has placed immense pressure
on water resources. This has boosted investments towards advanced water
treatment facilities, driving demand for water treatment chemicals.
Regional analysis: Asia Pacific region holds the leading share currently and is
estimated to maintain its dominating position during the forecast years as
well. Countries like China and India having huge populations are facing grave
water pollution challenges. They are investing heavily in water infrastructure
projects, thereby propelling the APAC market for water treatment chemicals.
Other fast developing regions include Middle East and Latin America where water
scarcity issues are prominent.
The
key players operating in the water and wastewater treatment chemicals market
are Honeywell International, IPG Photonics Corporation, Teledyne FLIR LLC,
Changchun New Industries Optoelectronics Tech. Co., Ltd. Honeywell
International is a global leader with wide product portfolio and geographical
footprint. IPG Photonics Corporation is a leading high-performance fiber lasers
and amplifiers provider targeting industrial application segments.
Get
more insights on this topic: https://www.newsstatix.com/water-and-wastewater-treatment-chemicals-market-share-and-opportunity-analysis/
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