Segmentation by Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Biocides & Disinfectants, and Chelating Agents); and by End User (Oil & Gas, Power, Municipal, Pulp & Paper, Chemical Manufacturing, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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On the basis of geographical analysis, the global water treatment chemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to acquire the largest share and witness noteworthy growth over the forecast period on the back of the rapidly growing urbanization, which is expected to boost the growth of end user industries of the product in the region including chemical, power and oil & gas. As per the United Nations, the levels of urbanization in Asia were approximately 50 percent in 2018. It is calculated that by 2050, India and China will be homes to 416 million and 55 million urban dwellers respectively. In addition, growing demand for heavy metals, which in turn is projected to lead to the upsurge in the requirement for pretreated water is also anticipated to drive market growth in the coming years. Moreover, the market in North America is also predicted to occupy a notable share during the forecast period, which can be credited to the rising penetration of water treatment facilities in upstream oil & gas sector, and soaring water scarcity in the region.
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The global water treatment chemicals market is further classified on the basis of region as follows:
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global water treatment chemicals market includes the following segments:
By Type
By End User
Growth Drivers
Challenges
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving market growth are growing demand for chemically treated water from end user industries, and increasing adoption of saline water treatment to fulfill water demand.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2030.
Ans: Availability of alternative water treatment technologies is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the rapidly growing urbanization, which is expected to boost the growth of chemical, power and oil & gas industries in the region.
Ans: The major players in the market are BASF SE, Ecolab Inc., Solenis LLC, Akzo Nobel N.V., Kemira OYJ, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, end user, and by region.
Ans: The municipal segment is anticipated to hold largest market size and is estimated to grow at a steady CAGR over the forecast period and display significant growth opportunities.
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