Water Treatment Chemicals Market worth $43.9 billion by 2028, at a CAGR of 3.6%, says MarketsandMarkets™

Chicago, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Global Water Treatment Chemicals Market is projected to grow from USD 36.7 billion in 2023 and is projected to reach USD 43.9 billion by 2028, at a CAGR of 3.6 %, between 2023 and 2028 period, as per the recent study by MarketsandMarkets™. Increasing demand for chemically treated water in various end-use industries, stringent water and wastewater regulations will propel water treatment chemicals market growth during the forecast period.

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155 - Market Data Tables

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List of Key Players in Water Treatment Chemicals Market:     

1. Kemira OYJ (Finland)
2. BASF SE (Germany)
3. Ecolab Inc. (US)
4. Dow Inc. (US)
5. Solenis LLC (US)

Drivers, Restraint, Opportunities and Challenges in Water Treatment Chemicals Market:

1. Drivers: Increasing demand for chemically treated water in various end-use industries
2. Restraint: Alternative water treatment technologies
3. Opportunity: Rising population and rapid urbanization in emerging economies
4. Challenge: Need for eco-friendly formulations and vulnerability regarding copying patents

Key Findings of the Study:

1. Based on application, water desalination is estimated to be the second fastest growing segment in the overall water treatment chemicals market in terms of value.
2. Based on the source, the synthetic segment is estimated to be the second fastest-growing segment of the water treatment chemicals market.
3. Based on end user, industrial segment is estimated to be the fastest-growing segment of water treatment chemicals market.
4. Europe accounted for the third largest market share amongst other regions in the water treatment chemicals market.

On the basis of type, the coagulants & flocculants segment is expected to lead the market in terms of value in 2023, due to their pivotal role in water purification. These chemicals facilitate the removal of impurities by aggregating and settling particles, ensuring efficient water treatment. With increasing concerns about water quality and environmental regulations, the demand for effective coagulants and flocculants remains high, driving this segment's leadership in the market.

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On the basis of source, synthetic water treatment chemicals have the largest market share because of their adaptability and consistent quality. They are designed to suit various water treatment needs, offering reliable and customized solutions. Synthetic chemicals often outperform bio-based water treatment chemicals, as they are cost-effective and reliable. As the demand for efficient and sustainable water treatment grows, synthetic chemicals become the preferred choice, due to their ability to effectively address a wide range of water treatment challenges while maintaining high standards of quality and safety, making them the market leader.

On the basis of application, raw water treatment is expected to lead the market in 2023, due to a confluence of critical factors. As the world handles mounting concerns about water quality and scarcity, the treatment of untreated water sources is taking center stage. Municipalities and industries are increasingly focusing on ensuring clean and safe drinking water supplies, in light of rising pollution levels, climate-related challenges, and stringent regulatory standards. Furthermore, industrial processes heavily rely on raw water, necessitating effective treatment solutions to meet environmental sustainability goals and maintain operational efficiency. The growing awareness of waterborne diseases and contaminants further underscores the vital role of raw water treatment, making it a top priority for health and environmental well-being.

On the basis of end-use industry, the industrial segment is projected to lead the water treatment chemicals market in terms of value during the forecast period. The growth of this segment of the market can be attributed to the continuously growing population across the globe along with rapid urbanization. This is expected to increase the demand for quality water. Additionally, increasing number of projects being tendered and commissioned in emerging economies across the globe is also contributing to the growing demand for water treatment chemicals in the industrial end user segment.

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Based on region, North America region accounted for the largest market share in 2022 and it is also expected to be the largest market for water treatment chemicals during the forecast period, in terms of value. Owing to the factors such as high disposable income of masses, high living standards, and large industrial base has large demand for water treatment chemicals in North America. Whereas the water treatment chemicals market in Asia Pacific region is projected to witness highest growth during the forecast period. Growing industrial, power, and manufacturing sectors are anticipated to enhance the demand for boiler chemicals and systems in the emerging economies of Asia Pacific in near future. Various government policies and initiatives to attract investments from various international companies are also expected to boost the growth of the Asia Pacific water treatment chemicals market from 2023 till 2028.

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