In 2019, the global water treatment chemicals market generated a revenue of $48,938.1 million. According to the forecast of P&S Intelligence, a market research company based in India, the market would exhibit a CAGR of 5.2% from 2020 to 2030 and attain a valuation of $85,341.8 million by 2030. The market is being driven by the rising concerns being raised among people over the growing incidence of waterborne diseases and the growing popularity of desalination across the world.
Desalination has become very popular, especially in the countries having limited availability of freshwater reserves such as the U.A.E., Saudi Arabia, and many sub-African countries. This process is used for changing the brackish water or seawater into freshwater or potable water. Many water treatment chemicals are used in the desalination process. The growing population in these water-starved countries is fueling the requirement for high-quality potable and freshwater, which is, in turn, causing the boom of the water treatment chemicals market.
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Additionally, the increasing implementation of strict government regulations in various countries regarding water treatment is boosting the advancement of the market around the world. These stringent regulations are aimed at restricting the discharge of toxic chemicals into the water bodies in order to ensure proper water treatment and make the water suitable for human consumption. Moreover, with increasing industrialization, these regulations are more important now than ever for preventing the pollution of water bodies.
Depending on type, the water treatment chemicals market is divided into corrosion inhibitors, chelating agents, scale inhibitors, biocides and disinfectants, anti-foaming agents, oxidants, pH adjusters and stabilizers, and oxygen scavengers, and coagulants and flocculants. Out of these, the coagulants and flocculants category registered the highest revenue growth in the market in the years gone by and this trend is likely to continue in the forthcoming years, mainly because of the ability of coagulants and flocculants to eliminate solids from water.
Geographically, the water treatment chemicals market is predicted to record the highest growth in Asia-Pacific (APAC) in the upcoming years. This would be a result of the existence of numerous industries and the high living standards of the people living in this region. In addition to this, the growing requirement for clean water is pushing up the demand for water treatment chemicals. Japan and China are some of the biggest consumers of water treatment chemicals in the APAC region.
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Furthermore, the rising implementation of strict government policies and regulations regarding water treatment and the increasing awareness among the people in the developing nations about the importance of treated water and the various diseases caused because of the consumption of polluted and untreated water are boosting the growth of the market in the region. The Japanese government is enacting stringent environmental protection policies for mandating the proper treatment of the wastewater released from industries and residential buildings.
Hence, it can be said with full surety that the market would demonstrate rapid advancement all over the world in the upcoming years, primarily because of the rising requirement for water treatment, on account of the growing incidence of water-borne diseases and the soaring public awareness about the harmful effects of consuming untreated water around the world.
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