Water treatment chemicals are used for treatment of water sourced from both municipal and industrial applications before it gets used. These chemicals treat and purify water by reducing impurities and making it safe for consumption and other applications. With growing concerns of water scarcity and strict regulations regarding provision of clean water, the demand for water treatment chemicals is increasing.
The global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity to treat increasingly contaminated water sources will drive the water treatment chemicals market growth. Stringent regulations and increasing industrialization has led to higher levels of contamination in water bodies. This has increased the need for advanced water treatment through application of specialized chemicals. With urbanization and growing population placing additional stress on water resources, the market will find opportunities to develop innovative and sustainable solutions for treatment of complex wastewater produced from various industries and domestic sources. Treating difficult to manage contaminated water through customized chemical formulations will be a major growth area in the coming years.
Porter's Analysis
Threat of new entrants: The water treatment chemicals market requires high initial capital investments for R&D, manufacturing facilities, sales and distribution networks etc which limits the threat of new entrants.
Bargaining power of buyers: The presence of many large buyers like municipalities and industries results in higher bargaining power of buyers over suppliers in this market.
Bargaining power of suppliers: Majority of raw materials used in water treatment chemicals are commodities whose prices are volatile. This gives higher bargaining power to suppliers.
Threat of new substitutes: Alternative technologies like reverse osmosis and ultraviolet disinfection provide limited substitutability in certain applications.
Competitive rivalry: The market is dominated by globally operating key players intensifying competition.
SWOT Analysis
Strength: Wide applications in municipal and industrial segments ensure steady demand. Technological advancements help improve performance.
Weakness: Regulatory challenges and compliance issues pose operational difficulties. Raw material price fluctuations impact costs.
Opportunity: Growing water stress increases need for treatment in developing countries. Reuse of treated water presents new markets.
Threats: Environmental regulations regarding discharge standards are becoming stricter over time.
Key Takeaways
The Global Water Treatment Chemicals Market Size is expected to witness high growth over the forecast period supported by increasing freshwater scarcity and stringent quality norms. The global Water Treatment Chemicals Market is estimated to be valued at US$ 40.53 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
The Asia Pacific region dominated the global market in 2024 owing to large population and rapid industrialization in countries like China and India. Key regional markets include North America and Europe as well.
Key players operating in the water treatment chemicals market are Sisecam Group, Bormioli Rocco SpA, Wuerttembergische Metallwarenfabrik AG (WMF), Libbey, Inc., ARC International, Anchor Hocking, and Lenox Corporation. The municipal segment accounted for over 50% share in 2024 due to aging infrastructure and rising demand for potable water. Demand from power, oil & gas, and manufacturing industries is also significant. Rapid growth is projected in industrial wastewater treatment chemicals over 2023-2030.
For More details on the topic:
https://www.dailyprbulletin.com/water-treatment-chemicals-market-trends-size-and-share-analysis/
