The 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, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Water and wastewater treatment chemicals are used in various processes involved in water and wastewater treatment such as coagulation, flocculation, disinfection, scale & corrosion inhibition, pH control, and others. These chemicals play a vital role in ensuring safe drinking water supply and are also used to treat industrial wastewater before discharging it into natural water bodies. The increasing concerns regarding health hazards due to contaminated water and stringent wastewater discharge regulations are promoting the adoption of water treatment processes across various end-use industries.
Market Dynamics:
The global water and wastewater treatment chemicals market is expected to witness significant growth over the forecast period, owing to rising industrialization activities and increasing need for freshwater treatment. The demand for treated water is growing worldwide due to a rapidly growing population and rapid urbanization. According to the United Nations, more than 60% of the world’s population will reside in urban areas by 2030, up from 55% currently. This is creating a huge demand for freshwater supplies in developing nations. Furthermore, stringent governmental regulations regarding industrial wastewater discharge standards are necessitating the usage of chemicals during wastewater treatment processes. For instance, the U.S. Environmental Protection Agency (EPA) has implemented regulations such as the Clean Water Act to control water pollution by industrial units. Additionally, chemical manufacturers are focused on developing innovative and eco-friendly water treatment chemicals in order to comply with the stringent environmental regulations.
Segment Analysis
The water and wastewater treatment chemicals market is dominated by the municipal segment. This segment accounts for over 60% share of the overall market owing to growing urbanization and rising investments in water infrastructure projects across residential, commercial and industrial sectors. The increasing requirements for clean drinking water and adoption of stringent wastewater discharge norms are further driving the demand for chemicals within the municipal segment.
PEST Analysis
Political: Regulations regarding discharge of untreated wastewater and implementation of water recycling mandates in several countries are positively influencing the market growth. However, varying environmental norms across regions pose challenges to players.
Economic: Growing industries and rising population are augmenting clean water demand which in turn is favoring market expansion. Though high operational costs can hamper the small scale end-users.
Social: Rising awareness about water conservation and public health is propelling the usage of treatment chemicals. However, affordability issues in underdeveloped nations restricts the market scope to some extent.
Technological: Adoption of advanced membranes, automation, IoT and analytics are helping optimize treatment processes. Still, frequent technological upgrades pressure participants through increased R&D spending.
Key Takeaways
Global Water And Wastewater Treatment Chemicals Market Size is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing industrial wastewater volumes and robust investments in water infrastructure projects across developing regions. North America dominated the market and accounted for over 30% revenue share in 2021 led by strict regulatory compliance and deployment of advanced treatment technologies across all sectors. 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.
Regional analysis: Asia Pacific is expected to witness the fastest growth during the forecast period. Factors such as rapid urbanization, rising incomes, and improving sanitation standards across countries like China and India are expected to propel the industry forward. China dominates the regional market owing to the large manufacturing sector and presence of vast chemical industry.
Key players: 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.
