by 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 for purification of water and removing impurities from it. These chemicals are used for coagulation, flocculation, disinfection and other processes. They remove solid, biological and chemical contaminants making water fit for various end-use applications such as industrial, domestic, marine etc. Need for clean and usable water has increased globally due to rapid urbanization and industrialization.
Market key trends:
Stringent regulations regarding industrial and municipal wastewater discharge is a key trend driving the market growth. Governments across regions have implemented various regulations specifying limits of contaminants and pollutants that can be released into water bodies. This is necessitating industries and municipalities to adopt advanced water treatment technologies and chemicals. For instance, according to EPA, industries in the US need to comply with National Pollutant Discharge Elimination System permit program which specifies limits for controlling water pollution from various sources including industrial plants. Growing awareness about water conservation is also fueling adoption of advanced water treatment solutions and chemicals. Advanced technologies aid in reuse and recycling of treated water further putting less pressure on fresh water resources.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires huge capital investments for setting up manufacturing units and R&D infrastructure. However, emerging economies offer opportunities for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the buyers have several product alternatives available from different manufacturers. However, switching to alternatives require compliance with existing treatment processes.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials used in water treatment are commodity chemicals readily available from multiple global suppliers.
Threat of new substitutes: The threat of new substitutes is low as no major substitute is available currently for water treatment chemicals for industrial and municipal applications.
Competitive rivalry: Intense due to presence of global and local players.
SWOT Analysis
Strength: Wide range of chemicals for all stages of water treatment processes. Established global distribution network and technical expertise.
Weakness: Strict environmental regulations globally increasing compliance costs. Dependency on raw material price fluctuations.
Opportunity: Growing industrialization and infrastructure development in emerging economies driving demand. Advancements in treatment technologies present opportunities.
Threats: Growing preference for alternative water treatment methods like membrane technologies. Stringent regulations limiting use of certain chemicals.
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 industrialization and stringent wastewater discharge norms. The market size for 2021 was US$ 32,548.27 Mn.
North America dominates the market currently owing to strict environmental regulations and rising investments in municipal wastewater infrastructure projects. Asia Pacific is expected to grow at the fastest pace during the forecast period due to surging industrial activities and growing population in countries such as China and India enhancing the demand for clean water.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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