New York, USA, July 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global specialty water treatment chemicals market is expected to generate a revenue of $53,465.5% by 2026, increasing from $33,292.5 million back in 2018, growing at a CAGR of 6.1% during the forecast period (2019-2026). The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: Effective initiatives taken by the government on conserving and reusing the water in order to prevent the spread of any water related diseases among the increasing population is expected to favor the growth of the global specialty water treatment chemicals market.
Restraints: Prevalence of an immense variety of wastewater treatment methods is the major factor anticipated to curb the growth of the market.
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Opportunities: Instigation of using sustainable products for wastewater treatment is predicted to create massive opportunities for the global specialty water treatment chemicals market.
Segments of the Market
The report has divided the market into different segments based on type, end-use industry, and regional outlook.
Type: Biocides Sub-segment to be Most Profitable
The biocide sub-segment generated a revenue of $6,591.9 million back in 2018, and is predicted to grow exponentially at a CAGR of 5.2% during the forecast period. Biocide is used to purify the water and also used to ensure the maintenance and efficiency of the systems used in the wastewater treatment processes.
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End-Use Industry: Municipal Industry to be Most Lucrative
The municipal end-use industry generated a revenue of $6,325.6 million back in 2018, and is expected to grow at remarkable CAGR of 5.2% during the forecast period. Various processes like mixing groundwater with surface water aids in enhancing the quality of wastewater; which can then be used as municipal drinking water. This factor is expected to boost the growth of the industry.
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Regional Outlook: Asia-Pacific Region Anticipated to have the Largest Market Share
Asia-Pacific market generate a revenue of $9,621.5 million back in 2018, and is expected to grow at a notable CAGR of 5.0% during the forecast period. Significant rise in the standard of living among people has increased the demand for clean drinking water in the region. This factor is predicted to surge the growth of specialty water treatment chemicals market in the region.
Key Players of the Market
• Novozymes A/S
• Evonik Industries AG
• Clariant AG
• Rhodia S.A.
• Chemtura Corporation
• Huntsman International LLC.
• AkzoNobel N.V.
• Bayer AG
• The Dow Chemical Co.,
• BASF SE
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in January 2021, USLCO, a dominant provider of specialty chemicals used in the water and wastewater treatment processes, acquired CalCHEM, a dominant manufacturer of top-class specialty chemicals for municipal water treatment and industrial applications, in order to expand their presence and offerings.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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