Chicago, July 14, 2022 (GLOBE NEWSWIRE) -- According to the 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 2027”, published by MarketsandMarkets™, the market size is estimated to be USD 35.9 billion in 2022 and is forecasted to grow to USD 42.2 billion by 2027, at a CAGR of 3.2%, during the forecast period.
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Water treatment chemicals are the chemical compounds used in the treatment of water to remove impurities, which cause scales, corrosion, high turbidity, and biological imbalance. Water treatment chemicals are majorly used in the municipal, commercial, and industrial end-use for water treatment. The type and degree of water treatment strongly depend on the source of the water and its intended use. Water for domestic use must 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.
Based on type, the corrosion inhibitors is projected to be the fastest growing segment in the water treatment chemicals market
Corrosion inhibitors is projected to grow at the highest CAGR in the overall water treatment chemicals market, in terms of value. This type of water treatment chemical is used to control or reduce the process of corrosion and prevent degradation of metal surfaces in various equipment. These are utilized in industrial applications to prevent corrosion and degradation of equipment such as boilers and cooling towers. Growing oil & gas industry is expected to support the growth of the market.
Based on application, water desalination is estimated to be the fastest growing segment in the overall water treatment chemicals market
Water desalination is projected to grow at the highest CAGR during the forecast period. The rising demand of freshwater and increasing water scarcity in driving the demand of water desalination, especially in the Middle East & Africa region. Moreover, rapid industrialization has increased the water utilization in various industries boosting the demand for water desalination in the water treatment chemicals market.
Based on end user, industrial segment is estimated to be the fastest-growing segment of water treatment chemicals market
Industrial is estimated to be the largest and fastest growing application of water treatment chemicals. Water treatment chemicals are used in various end-use industries such as municipal, oil & gas, power, food & beverage, chemicals & fertilizers, metals & mining, and pulp & paper. Increasing demand for chemically treated water and rising industrialization in developing economies is driving the growth of this segment.
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Based on source, synthetic segment is estimated to be the fastest-growing segment of water treatment chemicals market
Synthetic is estimated to be the fastest growing and largest segment of water treatment chemicals, based on source. This segment is expected to be driven by factors such as cost effectiveness and easy availability of raw materials.
Asia Pacific is projected to grow the fastest in the overall water treatment chemicals market during the forecast period
Asia Pacific is projected to be the fastest growing region for water treatment chemicals between 2022 and 2027. The emerging economies of the region such as China, India, Indonesia, and South Korea are witnessing increasing demand of water treatment chemicals due to rising awareness about the water and wastewater treatment coupled with the rapid industrial and infrastructural development. These factors are expected to support the growth of water treatment chemicals market in the Asia Pacific region. Additionally, the government regulations towards water treatment are increasing the demand of water treatment chemicals in the region.
Key Players in Water Treatment Chemicals Market:
- Ecolab Inc. (US),
- Kemira Oyj (Finland),
- BASF SE (Germany),
- Solenis LLC (US),
- Dow Inc. (US),
- Nouryon (Netherlands),
- Baker Hughes (US),
- SNF Floerger (France),
- Kurita Water Industries Ltd. (Japan),
- Veolia (France), and
- Arxada (Switzerland) are some of the major players operating in the water treatment chemicals industry.
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Corrosion Inhibitors Market by Compound (Organic, Inorganic), Type (Water based, Oil based and VCI), Application, End-Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Region
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