Chicago, May 31, 2022 (GLOBE NEWSWIRE) -- According to a market research report, "Water Treatment Chemicals Market by Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, Chelating Agents), End-Use (Residential, Commercial, Industrial), and Region - Global Forecast to 2026", The global water treatment chemicals market size was valued at USD 39.1 billion in 2021 and is projected to reach USD 61.1 billion by 2026 growing at a CAGR of 9.3% during the forecast period.
Water treatment chemicals are chemical formulations used for the decontamination and purification of water for commercial, municipal, and industrial purposes. The type and degree of water treatment strongly depend on the source of the water and its intended use. Water for domestic use has to be thoroughly disinfected to remove microorganisms before supply to households. On the other hand, industrial water may contain microorganisms, but must be treated to a certain extent to turn the water soft and to prevent scale formation and corrosion.
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Browse in-depth TOC on “Water Treatment Chemicals Market”
182 – Tables
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Corrosion inhibitors is projected to be the largest type segment in water treatment chemicals market. Corrosion inhibitor is the best-known method of preventing corrosion and degradation of metal surfaces in equipment. These type of inhibitors are substances, which under low concentration and extreme environment, inhibit, prevent, or minimize corrosion on metallic surfaces. Three mechanisms are used in administering the corrosion inhibitors, namely, chemisorption on metal surfaces, oxide protection of base metal, and reaction with a potential corrosive component in the aqueous solution. The use of poor quality water in cooling systems and increased water recycling will boost the market for corrosion inhibitors during the forecast period. In addition, the increasing demand from the oil & gas industry will propel the market for this type of water treatment chemicals.
Various Industrial end users include municipal, oil & gas, power, municipal, food & beverage, chemical, pulp & paper, and mining that are considered for the scope of the study. The demand for water treatment in the industrial sector is increasing due to rapid industrialization in developing countries and substantial growth in several key markets. Every industry consumes water for a variety of applications in include metal & mining, chemical processing, food & beverage, oil & gas, paper & pulp, and power generation that require water treatment chemicals to treat the usage of essential water.
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APAC is the fastest-growing region for water treatment chemicals market. The region consists of the majority of emerging economies of the world such as China, Japan, India, South Korea, Malaysia, Indonesia, Australia, and New Zealand, and is projected to be a leading market for water treatment chemicals in the next five years. Water contamination is a serious issue in the APAC region due to increased environmental deterioration, high soil erosion, occasional floods, and increase in pollution levels in China, India, and Japan. The availability of clean water is declining, thus driving the demand for water treatment chemicals in these countries.
The primary energy demand of APAC is huge, mainly due to the continuous population growth. Its demand for electricity is projected to grow over 70% till 2035. The energy sector is, therefore, expected to drive the water treatment chemicals market growth in the region. The market in the region is growing at a steady rate due to the growing demand from end-use segments such as municipal water treatment, power generation, chemical, oil & gas, and mining. Urbanization and rising environmental awareness are driving rapid growth in urban water supply and wastewater treatment sectors.
Major players operating in the Water Treatment Chemicals Market include Kemira OYJ (Finland), Ecolab Inc. (US), Lonza (Switzerland), The Dow Chemical Company (US), Baker Hughes (US), BASF SE (Germany), Solenis LLC (US), Akzo Nobel N.V. (Netherlands), Snf Floerger (France), and Suez S.A. (France) among many others.
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Study Coverage
This research report categorizes the water treatment chemicals market based on type, end-use industry, and region. Based on type, the water treatment chemicals market has been segmented into coagulants & flocculants, corrosion inhibitors, scale inhibitors, biocides & disinfectants, chelating agents, anti-foaming agents, pH adjusters & stabilizers, and others. Based on end-use industry, the market has been segmented into residential, commercial, and industrial. Based on region, the water treatment chemicals market has been segmented into APAC, North America, Europe, the Middle East & Africa, and South America. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the water treatment chemicals market.
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