PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1376863
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1376863
Scope of the Report | |
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Years Considered for the Study | 2020-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Volume (Kiloton) and Value (USD Million/Billion) |
Segments | By Type, Source, Application, End-use Industry, and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
The global water treatment chemicals market size is estimated to be USD 36.7 billion in 2023 and projected to reach USD 43.9 billion by 2028, at a CAGR of 3.6%. The rising need for chemically treated water across diverse industries, strict regulations concerning water and wastewater, and escalating water pollution levels are driving factors in this market. Restraints, include the availability of alternative water treatment technologies, the high costs associated with water treatment chemicals, maintenance, and energy consumption. Opportunities stem from the increasing population and urbanization in emerging economies, as well as the growing demand for specialized treatment formulations.
"Asia Pacific is projected to grow the fastest in the water treatment chemicals market during the forecast period, in terms of value."
Asia Pacific is projected to be the fastest growing market for water treatment chemicals in the forecast period, this growth is attributed to the region's surging industrialization and population expansion. The increased need for clean water, coupled with stringent environmental regulations, is driving the adoption of water treatment solutions at a brisk pace. These factors collectively contribute to the market's rapid expansion in the forecast period.
"Commercial segment accounted for the second largest market share amongst other end-use industries in the water treatment chemicals market."
The commercial segment is the second-largest end-use industry in the water treatment chemicals market due to its diverse applications in sectors such as hospitality, healthcare, retail, and institutions. These businesses require water treatment chemicals to ensure safe and clean water for various purposes, including drinking, sanitation, and HVAC systems. As commercial activities grow, so does the demand for effective water treatment, cementing the segment's substantial market share.
"Cooling water treatment segment accounted for the second largest market share amongst other end-use industries in the water treatment chemicals market."
Cooling water treatment is the second largest segment in the water treatment chemicals market because it plays a crucial role in maintaining the efficiency and longevity of industrial cooling systems, such as HVAC and manufacturing processes. These systems require chemical treatment to prevent scale formation, corrosion, and microbial growth. As industries expand, the need for cooling water treatment grows, ensuring optimal equipment performance and reducing operational costs, thus making it a significant component of the overall water treatment chemicals market.
"Biocide & Disinfectants segment accounted for the second largest market share amongst other types in the water treatment chemicals market"
Biocides & Disinfectants is the second largest type in the water treatment chemicals market due to their pivotal role in safeguarding water quality. With increased concerns about waterborne pathogens and microbial contamination in industrial, municipal, and commercial applications, the demand for these chemicals has surged. Biocides and disinfectants effectively eliminate bacteria, algae, and other harmful microorganisms, making them indispensable in ensuring clean, safe water for various end-users, solidifying their substantial market share in the water treatment chemicals industry.
Breakdown of primaries
The water treatment chemicals market is dominated by a few globally established players such as Kemira OYJ (Finland), BASF SE (Germany), Ecolab Inc. (U.S.), Dow Inc. (U.S.), and Solenis LLC (US).
The water treatment chemicals market has been segmented based on type, application, end user, source, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the water treatment chemicals market, along with opportunities and challenges in the market. It also includes profiles for top manufacturers in the market.
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the water treatment chemicals market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the water treatment chemicals market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)**