The Water Treatment Chemicals Market
size is estimated to reach US$43.2 billion by 2027, growing at a CAGR of 3.4% during the forecast period 2022-2027. The growth scope for the water treatment chemicals market is high due to expanding utilization in major end-use sectors, including the municipal sector, pulp & paper, power generation and others for water purification, water desalination and others. The rising municipal water sector, along with an emphasis on clean drinking water and sewage treatment projects, is fueling the growth scope for the water treatment chemicals industry. Moreover, demand for chemically-treated water across food & beverage, power and other segments is further augmenting the demand for Water Treatment Chemicals.
The Asia-Pacific region holds a major share of 41.8% in the Water Treatment Chemicals market due to the established base for industrial & municipal water sectors, growing oil & gas activities and others in emerging nations such as China, Japan, India and others. The lucrative growth of the municipal water treatment sector is influenced by factors such as rising awareness of municipal water treatment, water pipelines and industrialization. According to the International Trade Administration, China plans to build or renovate 80,000 km of sewage collection pipeline networks and increase sewage treatment capacity by 20 million cubic meters per day between 2021 and 2025.
With an increase in water and wastewater treatment projects, sewage treatment activities and pipeline networks, the applicability of water treatment chemicals such as defoamers, coagulants and others for water purification and recycling is rising in APAC. This, in turn, is boosting the growth of the Water Treatment Chemicals industry.
Water Treatment Chemicals Market Growth Drivers:
Robust Growth in Oil & Gas Industry:
There is a massive demand for Water Treatment Chemicals in the oil & gas sector for applications in water purification, steam generators and others. The oil & gas sector is significantly growing due to an increase in oil & gas exploration and production activities projects, drilling operations and industrialization.
According to the United States Energy Information Administration (EIA), the production of crude oil increased from 10809 barrels per day in September 2021 to 11473 barrels per day in October 2021. With the increase in oil production across the world, the utilization of water treatment chemicals in water purification, petroleum refineries and others has increased, further fueling the Water Treatment Chemicals industry.
Increasing Utilization in the Wastewater Treatment Sector:
The expanding utilization of Water Treatment Chemicals in the wastewater treatment sector for raw water treatment and sewage water treatment and others is propelling the growth of the water treatment chemicals industry. The upsurge in the municipal and industrial wastewater treatment sector due to factors such as rising awareness for wastewater recycling, pipeline network growth and others is fueling demand for water treatment chemicals such as coagulants & flocculants, defoamers and others.
According to the Organization for Economic Co-Operation and Development (OECD), around 92.86% of the population in Australia is connected to wastewater treatment in 2020. With the flourished demand for metalworking and stainless steel manufacturing activities, the applicability of ceramic fiber ropes in steel furnaces and the metallurgy sector is rising, thereby driving the market.
The Major Players in the Water Treatment Chemicals Market Include
The major companies in the Water Treatment Chemicals market include AkzoNobel N.V., Baker Hughes Company, BASF SE, Solenis LLC, Kemira OYJ, Lonza Group AG, Suez SA, The Dow Chemical Company and Ecolab Inc.
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