Water and wastewater treatment chemicals are extensively used for purification of water bodies and treatment of industrial and municipal wastewater. Chemicals such as coagulants, flocculants, corrosion and scale inhibitors are widely used for water treatment across various end-use industries. Rising demand from municipal sector is expected to provide impetus to market growth over the forecast period. The global Water and Wastewater Treatment Chemicals Market is estimated to be valued at US$ 35339.74 Mn in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for water and wastewater treatment chemicals is expected to increase significantly from the municipal sector over the forecast period. Stringent regulations regarding wastewater disposal and growing concerns regarding clean water supply are compelling municipal bodies worldwide to invest heavily in upgrading their existing water and wastewater treatment infrastructure. Moreover, rapid urbanization has increased the pressure on municipal bodies to provide potable water and treat effluents, which is propelling the adoption of advanced water treatment technologies and chemical-based treatment processes. The increasing spending on water and wastewater management by various municipalities around the world will drive the water and wastewater treatment chemicals market during the forecast period.
Segment Analysis
The global water and wastewater treatment chemicals market size is divided into two major segments - flocculants and coagulants. Flocculants form the dominant segment currently accounting for over 40% of the market share. Flocculants are widely used in water treatment plants for solid-liquid separation in sludge thickening and dewatering. They help in clustering together fine suspended solids in water and making them settle down faster. This brings efficiency in water treatment operations.
Key Takeaways
The global water and wastewater treatment chemicals market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid urbanization coupled with rising urban population has placed immense pressure on water resources. This has boosted investments towards advanced water treatment facilities, driving demand for water treatment chemicals.
Regional analysis: Asia Pacific region holds the leading share currently and is estimated to maintain its dominating position during the forecast years as well. Countries like China and India having huge populations are facing grave water pollution challenges. They are investing heavily in water infrastructure projects, thereby propelling the APAC market for water treatment chemicals. Other fast developing regions include Middle East and Latin America where water scarcity issues are prominent.
The key players operating in the water and wastewater treatment chemicals market are Honeywell International, IPG Photonics Corporation, Teledyne FLIR LLC, Changchun New Industries Optoelectronics Tech. Co., Ltd. Honeywell International is a global leader with wide product portfolio and geographical footprint. IPG Photonics Corporation is a leading high-performance fiber lasers and amplifiers provider targeting industrial application segments.
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