March 5, 2024

Water Treatment Chemicals Market Is Estimated To Witness High Growth Owing To Increasing Water Contamination

Water treatment chemicals are essential components used in various water treatment processes to remove impurities, reduce alkalinity and hardness, and disinfection of water across industrial, municipal, and other applications. Rising water contamination levels due to increasing industrialization and growing population has propelled the demand for water treatment chemicals. Water treatment chemicals provide effective and economical solutions for removal of unwanted constituents to obtain potable water.

The Global Water Treatment Chemicals Market is estimated to be valued at US$ 46.7 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Water Treatment Chemicals are Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation.

The key opportunities in the market include growing industrial water usage, stringent regulations regarding wastewater discharge, and demand for reuse and recycling of treated water. With rising environmental concerns, demand for eco-friendly water treatment chemicals is also growing.

Technological advancements such as advanced oxidation processes, membrane technologies, and nanotechnology are enabling development of innovative and sustainable water treatment solutions. Novel coagulants, antiscalants, and disinfectants are enhancing treatment efficiency.

Market drivers
Growing industrial water usage: Industrialization has significantly increased industrial water usage for various manufacturing processes. Treatment of industrial wastewater to stringent norms is propelling demand for water treatment chemicals.

This paragraph provides an overview of the water treatment chemicals market and its applications. It mentions advantages of using water treatment chemicals and the need for potable water treatment due to rising contamination levels. The ending sentence provides the projected market size and growth rate as per the given details.

Current challenges in the Water Treatment Chemicals Market:
The Water Treatment Chemicals Market Demand is facing numerous challenges that are hampering its growth. Stringent environmental regulations regarding the disposal of chemicals after usage are increasing compliance costs for manufacturers. Moreover, growing public concerns over the toxicity of certain chemicals used in water treatment are prompting companies to invest in research & development of eco-friendly alternatives. Fluctuating raw material prices due to various economic and geopolitical factors is another major challenge. Dependency on a few Asian countries for key raw materials is exacerbating supply chain uncertainties. High capital requirements for setting up manufacturing facilities also pose financial challenges for small players.

SWOT Analysis
Strength
: Wide range of chemicals available for various types of water and customized solutions for diverse client needs.

Weakness: Heavy dependence on a few industrial sectors for revenue. Potential health & environmental risks if chemicals are not handled or disposed properly.

Opportunity: Rising global population and rapid urbanization increasing pressure on water resources drives demand. Investments in advanced water treatment technologies presents scope for innovations.

Threats: Intense competition from low-cost producers affecting profit margins. Stringent government regulations on chemical usage raises compliance costs.

The United States currently accounts for the largest share in the global water treatment chemicals market, both in terms of value and volume. This is attributed to factors such as stringent environmental regulations and extensive freshwater usage in various industries. China is another major geographical area where the market is highly concentrated owing to the rapidly growing industrial sector and population.

Asia Pacific region is poised to witness the fastest growth in the water treatment chemicals market over the forecast period. This can be accounted to growing investments towards development of advanced water treatment infrastructure, expanding manufacturing industry, and increasing per capita water consumption in major countries like India, China, and Indonesia. Middle East & Africa, as well as Latin America, are also projected to showcase notable growth opportunities for market players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it