Bioremediation Segment Fueling The Growth Of Water Treatment Chemicals Market

The 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.

The global Water Treatment Chemicals market is witnessing significant growth owing to growing industrialization and urbanization. Water treatment chemicals are used to purify water and make it fit for various end-use applications such as municipal, power, oil & gas, and mining. Strict regulations regarding freshwater usage and discharge of wastewater have further boosted the demand for these chemicals.

Market Overview:
Water treatment chemicals are used for potable water treatment and wastewater treatment in various industries. They help remove suspended solids, dissolved compounds, bacteria and other unwanted materials from water. Commonly used water treatment chemicals include coagulants, flocculants, biocides, corrosion and scale inhibitors, pH adjusters and softeners. They not only purify water but also extend the lifespan of municipal infrastructure as well as industrial equipment by preventing scale formation and corrosion.

Market key trends:
The global water treatment chemicals market is estimated to witness high growth owing to rising demand for chemically treated water from municipal and industrial sectors. Stringent regulations regarding freshwater usage and wastewater discharge across regions are driving municipal authorities to increasingly adopt chemical-based water treatment practices. Rapid industrialization and growing manufacturing activities have significantly boosted the consumption of treated water for various applications such as cooling, processing, and boilers in end-use industries. Furthermore, rising awareness about water conservation and reuse of treated wastewater is augmenting the sales of chemicals designed for advanced wastewater treatment processes. Manufacturers are also focusing on developing eco-friendly and sustainable water treatment solutions to capitalize on the shift toward greener chemicals.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the water treatment chemicals market is moderate as it requires large capital investments and capabilities to operate in this industry. There are also economies of scale for existing large players.
Bargaining power of buyers: The bargaining power of buyers is high as there are numerous established players providing differentiated products. Buyers can negotiate on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of substitute raw materials and established supply chains of major players in the market.
Threat of new substitutes: The threat of new substitutes is low as water treatment chemicals have well-defined applications and established production processes.
Competitive rivalry: Intense due to global presence of major established brands.

SWOT Analysis
Strength: Wide product portfolio and global presence of key players. Technological advancements allow improved quality and efficiencies.
Weakness: Vulnerable to fluctuations in raw material prices. Stringent regulations regarding the use of chemicals.
Opportunity: Increasing demand for clean water due to rising population, urbanization and industrialization. Growth in end-use industries like oil & gas, power, mining etc.
Threats: Competition from local and regional players. Trade barriers imposed by certain countries.

Key Takeaways
The global Water Treatment Chemicals Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing industrialization and urbanization. The market size for water treatment chemicals is estimated to reach US$ 40.53 Bn in 2023.

Regional analysis: Asia Pacific region dominates the global water treatment chemicals market and is expected to witness highest CAGR over the forecast period due to rapid industrialization and growing population. China accounts for over 30% share of the Asia Pacific market. North America and Europe are also sizable markets driven by stringent regulations regarding water quality.

Key players operating in the water treatment chemicals market are 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. These players are focused on developing advanced water treatment solutions and expanding operations in high growth regions through mergers, acquisitions and partnerships.

Read More: https://www.rapidwebwire.com/water-treatment-chemicals-market-demand-growth-and-regional-outlook/