The use of various chemicals like coagulants, flocculants, disinfectants, anti-scalants, and others help remove both physical and chemical impurities in raw water to make it suitable for various end-use applications. Rapid industrialization has significantly increased the pollution levels in water bodies, making water treatment an indispensable process across industries and municipalities. The pharmaceuticals, power, mining, and oil & gas industries are the major consumers of treated water. These sectors utilize large amounts of water during their manufacturing processes and require effective purification to ensure the safety of the processed water before discharge or reuse. With stringent regulatory norms and increasing freshwater scarcity, industries are compelled to adopt water recycling practices which fuel the demand for water treatment chemicals.
The global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 billion in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the water treatment chemicals market is the shift towards bio-based and eco-friendly chemicals. With the growing awareness about water pollution and its environmental impact, industries and municipalities are increasingly seeking greener alternatives to conventional treatment methods. Biocides, coagulants, and other chemicals derived from natural sources are gaining popularity as they degrade faster and pose minimal toxicity risks. Innovation is also driving new product development, especially membranes, adsorbents and resins that can replace multiple treatment steps and chemicals. Market players are investing heavily in R&D to introduce advanced oxidation processes and digitalization into water treatment systems for improved performance and cost-savings.
Threat of new entrants: The threat of new entrants in the water treatment chemicals market is moderate. High capital requirements and presence of well-established players pose significant barriers to entry. However, opportunities exist for specialized water treatment chemicals.Water Treatment Chemicals Market
Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of substitutes. However, compliance with strict environmental regulations increases buyer dependence on suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is high due to the consolidated nature of the market and availability of alternative supply options.
Threat of new substitutes: The threat of new substitutes is low as water treatment chemicals have well-established applications and development of substitutes require significant investment.
Competitive rivalry: The competitive rivalry is high due to presence of large global players and differentiated products. Players compete on pricing, product quality, and technical support.
The Global Water Treatment Chemicals Market Size is expected to witness high growth. The global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 billion in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
Regional analysis The Asia Pacific region dominates the market and is expected to grow at highest CAGR during the forecast period due to increasing population, rapid industrialization and stringent regulations regarding clean water usage.
Key players operating in the water treatment chemicals market are Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation. Key players are focusing on expanding their footprint through strategic acquisitions and partnerships to increase presence in high growth markets. The water treatment chemicals market is consolidated in nature with top players occupying major market share. Strict environmental regulations have increased adoption of water treatment chemicals across industries.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it