Water Treatment Polymers Market to Reach USD 81.25 Billion by 2030 as Governments around the World are Implementing Strict Regulations to Control Water Pollution
Water Treatment Polymers Market Scope & Segmentation by Product Application, By End-use, By Product Type, by Regions | Global Industry Forecast 2023-2030
Pune, March 29, 2023 (GLOBE NEWSWIRE) — Based on SNS Insider analysis, water treatment polymers are used in various applications such as municipal water treatment, industrial water treatment, and wastewater treatment, which has led to an increase in demand. As per SNS Insider, the Water Treatment Polymers Market was USD 39.60 billion in 2022 and is projected to attain USD 81.25 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.4% during the forecast period spanning from 2023 to 2030.
Water treatment polymers are an essential component in the process of water purification. They are crucial in removing contaminants and ensuring that the water is safe for human consumption. These polymers have revolutionized the way we treat water, making it possible to produce clean, high-quality water that meets strict regulatory standards. Their versatility, effectiveness, and cost-effectiveness make them an invaluable tool in the field of water treatment.
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Water Treatment Polymers Market Report Scope
|Market Size in 2022||US$ 39.60 Billion|
|Market Size by 2030||US$ 81.25 Billion|
|CAGR From 2023 to 2030||9.4%|
|Key Segments||• By Product Application (Fresh-Water Treatment, Waste-Water Treatment)
• By End-use (Residential Buildings, Commercial Buildings, Municipality, Industrial)
• By Product Type (Organic Water Treatment Polymers, Inorganic Water Treatment Polymers)
|Market Drivers||• Increasing demand for treated water.|
|Market Opportunity||• Increasing demand from the chemical, petrochemical, and oil and gas industry|
The global water treatment polymers market is set to experience substantial growth over the forecasted period. This growth can be attributed to the rapid proliferation of end-user segments such as the government, industrial, and residential sectors. With increasing awareness of the harmful effects of untreated water on health and the environment, the demand for effective water treatment solutions has risen significantly. Various initiatives have been implemented to promote the adoption of advanced water treatment technologies, including the use of water treatment polymers. This has led to an increase in demand for these polymers.
Impact of Recession
The impact of a recession on the water treatment polymers market may also vary depending on which industry sectors are most affected. For instance, if the recession primarily affects industries that heavily rely on water treatment polymers, such as manufacturing or chemical processing, the market may experience a significant decline in demand. However, if other sectors such as healthcare, food and beverage, and pharmaceuticals continue to operate at a normal capacity, demand for water treatment polymers may remain stable.
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Key Regional Development
The growth of the North American water treatment polymers market is expected to continue as more companies realize the importance of water treatment and invest in the necessary solutions. The market players are also investing in research and development to come up with innovative products to meet the changing needs of the industry. Additionally, the rising concerns about water scarcity in the region are likely to increase the adoption of water treatment polymers as they can help in water conservation.
Key Takeaway from Water Treatment Polymers Market Study
- The polyacrylamides segment stands out as the largest contributor to the market share. This can be attributed to the growing demand for flocculants derived from polyacrylamides across several sectors including semiconductors, oil & gas, and mining & metals.
- The global market is experiencing significant growth, with the industrial sector accounting for the largest share. This growth can be attributed to the rapid pace of industrialization and the increasing demand for power plants to enhance their production capacity.
Recent Developments Related to Water Treatment Polymers Market
- Two new projects in India, namely Mangala and Bhagyam, are set to feature polymer flooding EOR. These projects are being developed by Cairn Oil & Gas, a subsidiary of Vedanta Limited, in Rajasthan’s Barmer oil fields. The projects are expected to produce up to 50,000 barrels of oil per day and are scheduled to begin production in the next few years.
- Nouryon, a leading global specialty chemicals company, has made a strategic move by signing an exclusive agreement with Brenntag Specialties. The exclusive agreement between Nouryon and Brenntag Specialties is an excellent strategic move that will benefit both companies and their customers. It provides a reliable and efficient supply chain, technical expertise, and support, and a one-stop-shop solution to the agriculture and horticulture markets in the United States.
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