July 22, 2024

Rising demand for portable water to boost the growth of the Water Treatment Chemicals Market

The Global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Water treatment chemicals are used for purification of water for various end-use applications such as municipal, power, oil & gas, and mining. Rising demand for portable water due to growing population and industrialization has increased the need for water treatment chemicals. These chemicals are used for treating and purifying water by removing contaminants and pathogens and making it fit for various end uses. Common water treatment chemicals used are coagulants & flocculants, corrosion & scale inhibitors, biocides & disinfectants and pH conditioners & modifiers.

Market key trends:
The key trend in the water treatment chemicals market is rising demand for biocides & disinfectants. Biocides are used to treat water by killing or inhibiting growth of microorganisms like bacteria, fungi, algae, viruses, and protozoa. Increasing waterborne diseases due to contaminated water sources has raised the need for disinfecting water and killing harmful microbes. Growing concerns about water safety and prevention of spread of diseases will drive the demand for biocides & disinfectants in the forecast period. Other trends include increasing focus on reuse of treated wastewater and stringent regulations regarding fresh water disposal which is encouraging growth of advanced water treatment methods using customized water treatment chemicals.

Porter’s Analysis
Threat of new entrants: The high capital requirement in terms of manufacturing infrastructure and R&D acts as a barrier for new players to enter into the market.
Bargaining power of buyers: The presence of many established players provides buyers with high bargaining power and allows them to negotiate on pricing.
Bargaining power of suppliers: The supplier market is highly fragmented with many specialty chemical suppliers, keeping supplier power in check.
Threat of new substitutes: There are limited alternatives for water treatment. Emerging technologies may pose a potential threat over the long run.
Competitive rivalry: The market is highly competitive with major players competing on the basis of product quality, price, and service.

Key Takeaways
The Global Water Treatment Chemicals Market size is expected to reach US$ 60.29 billion by 2030, exhibiting a CAGR of 6.6% over the forecast period. The rapid industrialization and stringent regulations regarding wastewater disposal are expected to drive the growth.

Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period. However, Asia Pacific is anticipated to witness the highest growth rate on account of rapid industrial development and growing urbanization in countries such as China and India.

Key players: Major players operating in the global water treatment chemicals market include BASF S.E., Suez S.A., Kemira OYJ, BWA Water Additives, Ecolab Inc., Cortec Corporation, DowDuPont Inc., Baker Huges Incorporated, Akzo Nobel N.V., and Solenis LLC. Key players are focusing on new product launches to strengthen their market position. For instance, Solenis LLC launched a new defoamer product line called Solenis Ultra for the municipal and industrial wastewater treatment market.

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