The global water and wastewater treatment chemicals Market is estimated to be valued at US$ 32,548.27 Mn in 2022 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023-2030.
Market Overview:
Water and wastewater treatment chemicals are extensively used across various end-use industries such as power, oil & gas, mining, chemical processing, food & beverages, and municipal for processing raw water into potable water and treating industrial and municipal wastewater. These chemicals help in treating water by removing suspended solids, dissolved compounds, bacteria and algae. They improve the quality of water. Owing to rising population and rapid industrialization, demand for freshwater is growing exponentially. However, availability of freshwater is decreasing drastically leading to more adoption of water treatment solutions.
Market key trends:
The global water and wastewater treatment chemicals market is driven by increasing freshwater scarcity across the globe. With growing population and industrial activities, demand for freshwater has surpassed available supply in many regions. According to UN, around 4 billion people experience severe water scarcity for at least 1 month each year. This has increased focus on water recycling and augmentation of available water resources using advanced treatment technologies. Regulatory stance is also becoming more stringent towards quality of discharged water from industries and municipalities. Technological innovations in treatment chemicals and process technologies are further enhancing water extraction from alternate non-conventional sources such as seawater desalination. This is expected to significantly boost the demand for water treatment chemicals market over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate, since it requires high capital to enter this market and establish strong distribution networks.
Bargaining power of buyers: The bargaining power of buyers is high as there are many established players offering similar products. Buyers can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials required are common however some suppliers have established themselves as dominant players in their product category.
Threat of new substitutes: The threat of substitutes is low as no close substitutes are available for water and wastewater treatment chemicals.
Competitive rivalry: The competitive rivalry is high due to presence of many international and domestic players.
Key Takeaways
Global Water And Wastewater Treatment Chemicals Market Size is expected to witness high growth, exhibiting a CAGR of 4.2% over the forecast period of 2023-2030, due to increasing industrialization and urbanization. Rapid growth of manufacturing and processing industries is resulting in higher wastewater generation driving demand for treatment chemicals.
Regional analysis indicates that Asia Pacific region currently dominates the market accounting for over 35% of global demand in 2021 led by China, India, and other developing nations. Governments in developing countries are investing heavily in water infrastructure which will further aid market growth in the region. North America is another major market followed by Europe.
Key players operating in the water and wastewater treatment chemicals market are Kemira Oyj, ION EXCHANGE (I) Ltd, Thermax Ltd, BASF-SE, GE Water & Process Technologies, Dorf Ketal, Chembond India Ltd, SNF Group, Vasu Chemicals, E. I. du Pont de Nemours and Company, Shandong Taihe Water Treatment Technologies Co., Ltd., and Shandong XinTai Water Treatment Technology Co., Ltd. Major players are focusing on developing innovative products and expanding geographical reach through mergers and acquisitions.
Read More- https://www.ukwebwire.com/water-and-wastewater-treatment-chemicals-market-demand-and-outlook/
