PUBLISHER: Grand View Research | PRODUCT CODE: 1404878
PUBLISHER: Grand View Research | PRODUCT CODE: 1404878
The global water treatment chemicals market size is anticipated to reach USD 43.53 billion by 2030, registering a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rapid industrialization coupled with increasing awareness towards pollution and recycling of wastewater is anticipated to drive the market growth. It is explained as a process engaged in eliminating the contaminants by using various techniques. In the process, the waste or contaminated fluid is treated with chemicals to make it adequate for human consumption.
Growing worldwide consumption along with favorable government regulations for the use of chemicals is estimated to drive the market across the globe. In addition, increasing world population and growth in industrial activities is also projected to fuel the market growth. However, factors like rising prices of chemicals and growing use of chemical free technologies is projected to restrain the industry growth.
The biocides and coagulants and flocculants segments are projected to lead the market in petrochemical manufacturing and sugar and ethanol sector respectively. The increasing demand for flocculants and biocides in these applications is due to the implementation of stringent government regulations to provide quality and hygienic water for human consumption.
Limited supply of water for several industrial applications is propelled to fuel the product demand for use especially in the fertilizers, petrochemical manufacturing and refining sectors. These sectors collectively account major revenue share of the chemicals used for treatment. Recycling, growth of central wastewater treatment unit for SME's, and advanced biological treatment technologies are a few factors contributing to the industry growth.
Europe is one of the prominent consumers of water treatment chemicals owing to large consumption of water for industrial sectors such as sugar and ethanol and petrochemical manufacturing. The most widely used chemicals in Europe comprise of corrosion inhibitors, coagulants & flocculants, and biocides among others. The Europe market is driven by implementation of high-water quality standards for several industrial applications along with stringent environmental regulations for treatment processes.