(I-BusinessNews.Com, June 20, 2019 ) The latest report by IMARC Group, titled ÂGlobal Water Treatment Chemicals Market Research Report and Forecast 2019-2024Â, finds that the global water treatment chemicals market reached a value of around US$ 45 Billion in 2018. Water treatment is the process of improving the quality of water by eliminating impurities to make it fit for drinking, irrigation or industrial use. The chemicals that are used to remove suspended particles, fungi, viruses, algae and bacteria from the contaminated water are known as water treatment chemicals. Some examples of these chemicals include algicides, muriatic acid, chlorine, chlorine dioxide and soda ash. Since the usage of these chemicals is relatively cost-effective as compared to other solutions like UV technology and reverse osmosis, they are increasingly being used for purifying groundwater, municipal water, seawater and industrial wastewater.
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On account of the rising global population and rapid industrialization, freshwater resources are constantly depleting. In order to meet the ever-increasing demand, water recycling and treatment techniques are being adopted by the oil and gas, power, and mining sectors, which is providing a boost to the market growth. Apart from this, these chemicals are also employed for the treatment of cooling water, boiler water, raw water and effluent and reverse osmosis (RO) membranes across industries like power, fertilizer, paper, chemicals and petrochemicals. Moreover, growing consciousness about the harmful effects of contaminated water is increasing the sales of these chemicals for domestic applications including drinking water and swimming pool disinfection. Looking forward, the market is anticipated to reach a value of more than US$ 62 Billion by 2024, exhibiting a CAGR of 5.7% during the forecast period (2019-2024).
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Insights on Market Segmentation:
Market Breakup by Type:
1. Coagulants and Flocculants
2. Corrosion and Scale Inhibitors
3. Biocides and Disinfectants
4. Ph Adjusters and Softeners
5. Defoaming Agents
On the basis of types, the market has been categorized into coagulants and flocculants; scale and corrosion inhibitors; pH adjusters and softeners; biocides and disinfectants; defoaming agents; and others. Amongst these, coagulants and flocculants are the most popular products, accounting for the majority of the total market share.
Market Breakup by End-User :
3. Oil and Gas
6. Food and Beverage
7. Pulp and Paper
Based on end-users, the market has been divided into municipal, power, oil and gas, chemical, mining, food and beverage, pulp and paper, and others. At present, the municipal sector holds the biggest market share.
Market Breakup by Region:
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
On a geographical front, the market has been segregated into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Currently, Asia Pacific exhibits a clear dominance, holding the leading position in the market.
The competitive landscape of the global market has been analyzed with some of the key players being BASF SE, Ecolab Inc., Kemira OYJ, Solenis LLC, Akzo Nobel N.V., Baker Hughes Incorporated, Lonza, The DOW Chemical Company, SNF Floerger and Suez S.A.
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