Global Water Treatment Chemical Market to Expand at 28.10% CAGR from 2014-2020
Deerfield Beach, FL -- (SBWIRE) -- 09/05/2017 -- Zion Market Research has published a new report titled "Water Treatment Chemicals Market (Corrosion Inhibitor, Scale Inhibitor, Coagulants and Flocculants, Biocides & Disinfectants, Chelating Agents, pH Adjusters and Stabilizers, Others) For Industrial and Municipal Applications – Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020." According to the report, global demand for water treatment chemicals market was valued at around USD 23.50 billion in 2014 and is expected to generate revenue of USD 32.50 billion by end of 2020, growing at a CAGR of around 5% between 2015 and 2020.
The process of removing impurities from water using different processes in order to make it more suitable for human consumption and other applications is known as water treatment. Chemicals used for water treatment depends on the source of water; which can be sea, river, canal, ground or municipal water. Water treatment chemicals quantity used in different base location or type and it also depends on the water quality such as level of pH, alkalinity, hardness, and presence of Total Dissolved Solids (TDS).
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Growing population, government regulations, etc. are driving the demand for clean water for various purposes. Increasing urbanization has resulted into a significant rise in demand for water treatment chemicals. Water treatment chemicals market is primarily driven by strong demand for Corrosion Inhibitor and Scale Inhibitor product type segment. Increasing raw material prices is the restraints of water treatment chemicals market.
Corrosion inhibitor, scale inhibitor, coagulants and flocculants, biocides & disinfectants, chelating agents, pH adjusters and stabilizers, others are the key product type segment of water treatment chemicals market. Corrosion inhibitor and scale inhibitor is the largest segment in global water treatment chemicals market. Coagulants and flocculants are major markets for water treatment chemical. Coagulants and flocculants collectively accounted for the largest share of the global water treatment chemicals market in 2014 and are also expected to exhibit the growth at CAGR of 5.9% during the forecast period. Moreover the pH adjusters and stabilizers, coagulants and flocculants, biocides & disinfectants, chelating agents, are also expected to exhibit strong growth during the next few years.
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On the basis of application segment, water treatment chemicals market has been segmented as industrial and municipal. Industrial segment is included in sub- segment such as power generation, food & beverage, chemical processing, pulp & paper, oil & gas. Industrial was the largest application segment for water a treatment chemical market. Municipal water treatment facilities will also support demand for water treatment chemicals in developing areas.
Asia Pacific dominated the water treatment chemicals market with highest volume consumption, in 2014. Industrial growth and clean or fresh water are the key drivers in Asia Pacific region for increasing strong demand. Asia Pacific was followed by the North America and Europe. North America is the second largest market in water treatment chemicals market. North America is expected to continue to grow in end-user industries which include pulp and paper, food and beverages, oil and gas, refineries, and others. Europe is also expected to grow at a rapid pace in the years to come. Europe and North America both accounted for over 48% of the water treatment chemicals value in 2014.
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Some of the key players in global water treatment chemicals market include Nalco-Ecolab Company (U.S.), Kemira (Finland), Ashland Inc. (U.S.), Kurita (Japan), BASF SE (Germany), Air Products and Chemicals Inc. (U.S.), AkzoNobel N.V. (The Netherlands), The Dow Chemical Company (U.S.), BWA Water Additives UK Limited (U.K.), GE Water & Process Technologies (U.S.), Lonza Group Ltd. (Switzerland).
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