Water Treatment Chemicals Market revenue to hit USD 70 Billion by 2035, says Research Nester
Leading water treatment chemicals market players include BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ, The Dow Chemical Company, Snf Floerger, Solenis LLC, SuezS.A., and Lonza Group,
New York, Oct. 02, 2023 (GLOBE NEWSWIRE) — The global water treatment chemicals market size is expected to expand at ~4% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 70 billion by the end of 2035, up from a revenue of ~USD 35 billion in the year 2022.The major factor to boosts the market expansion is the availability of saline water in abundance in the world. According to NASA, 71% of the surface of the planet is covered in water. And from this, about 96.5 percent of it is made up of salt water. Hence, this saltwater could be used for a number of purposes if purified.
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Additionally, a variety of businesses, including desalination facilities, gas and oil drilling platforms, energy production facilities, leather tanneries, preserved food, olive, salted food, oil, gammon, and cured meat manufacturing facilities, as well as any sectors that require large amounts of water. 19% of the freshwater used globally, which also comprises groundwater, is used for industry and electricity. Hence, with the growing treatment of saline water, this demand by the industry sector could be satisfied. Therefore, the market for water treatment chemicals is growing.
Growing Contamination of Freshwater to Boost the Growth of Global Water Treatment Chemicals
Every day, around 2 billion tons of human waste are dumped into waterways throughout the globe. Hence, this has boosted the prevalence of contamination of water. Therefore, a large number of chemical industries are investing heavily in water treatment chemicals since it is estimated that only about 0.3% of water globally is fit to be consumed. Moreover, a large number of people are demanding clean water owing to growing awareness which has boosted more investment.
Water Treatment Chemicals Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Urban Population to Drive the Market Growth in Asia Pacific Region
The market for water treatment chemicals in Asia Pacific is set to hold the largest share of about 37% over the forecast period. The growth of the market in this region could be influenced by the rising urban population. More than 2.2 billion people, or 54% of all urban dwellers worldwide, reside in Asia. It is anticipated that 1.2 billion more people would live in metropolitan areas in Asia by 2050, a growth of 50%. Hence, the demand for water is increasing with this.
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Rising Production of Shale Gas to Dominated the Market Expansion in North America
The North America water treatment chemicals market is anticipated to have significant growth over the forecast period. The market in this region is growing on account of rising production of shale gas. The U.S. Energy Information Administration (EIA) projects that in 2022, dry natural gas output from shale formations totaled roughly 28.5 trillion cubic feet (Tcf), or about 80% of all production of dry natural gas in the country. A large amount of water is required to produce natural gas from shale which is further boosting demand for market in the region.
Water Treatment Chemicals, Segmentation by End-User
- Oil & Gas
- Pulp & Paper
- Chemical Manufacturing
The municipal segment is expected grow at the highest revenue by the end of 2035. The major factor to influence the segment growth is a rise in the number of water-related diseases all around the globe. Due to unsafe drinking water and inadequate sanitation practices, it is estimated that about 828,000 people die every year from diarrheal diseases, mostly cholera, dysentery, and typhoid fever. Hence, the demand for water treatment chemicals growing.
Water Treatment Chemicals, Segmentation by Type
- Coagulants & Flocculants
- Corrosion Inhibitors
- Scale Inhibitors
- Biocides & Disinfectants
- Chelating Agents
The coagulants & flocculants segment is projected to garner the highest share of about 40% over the projected period. The growth of the segment can be influenced by growing waste water. About 79 percent of wastewater from both developed and developing nations enters the environment untreated. As a result, the need for water treatment chemicals is on rise.
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A few of the well-known industry leaders in the global water treatment chemicals market that are profiled by Research Nester are BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ, The Dow Chemical Company, Snf Floerger, Solenis LLC, SuezS.A., Lonza Group, and others.
Recent Development in the Water Treatment Chemicals Market
The introduction of Global Chemical, a new business unit specializing in holistic responses to water, carbon, and energy concerns, was announced by Nalco Water, Ecolab Inc.’s water and process management division.
- BASF’s paper and water chemistry businesses were successfully transferred to Solenis by BASF SE and Solenis LLC. Increased global production and sales capabilities are offered by the united companies.
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