New York, USA, Jan. 05, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global specialty water treatment market is anticipated to garner a revenue of $53,465.0 million at a CAGR of 6.1% during the forecast period, increasing from $33,292.5 million in 2018.
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The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, 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
Government is taking various initiatives for conserving water across the globe because of the climate change and rising population. This is going to boost the market growth during the forecast period. Moreover, increase in the demand for chemically treated water in various end use industry is predicted to be another major driving factors for the global market of specialty water treatment chemicals.
There are numerous ways of treating the wastewater. The presence of huge variety of treatments for wastewater technologies is predicted to hamper to the growth of the specialty water treatment chemicals market during the forecast period. In addition, the shifting cost of raw material is predicted to restrain the growth of the market in upcoming years.
Development of eco-friendly products is expected to create many opportunities for the specialty water treatment chemicals market.
Key Segments of the Market
The report has divided the market into different segments based on type, end-use, and regional outlook.
Type Segment:
Biocides sub-segment to become the most lucrative:
Biocides type registered a revenue of $6,591.9 million in 2018 and is further predicted to grow with a CAGR of 5.2% in the forecast period. Biocides has many usages in many commercial, manufacturing and industrial processes in closed systems, cooling towers, and cold-water storage tanks to purify and reuse water for operational work. Biocides ensure that the systems are safe, well maintained, and operated at a good efficiency which is considered to be another factor driving the growth of the market.
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End-use Segment:
Municipal Sub-Segment will earn the Highest Profit:
Municipal end use industry generated a revenue of $6,325.6 million in 2018 and is further predicted to grow at a CAGR of 5.2% in the forecast period. This industry includes local reservoirs, rivers, or lakes.
Regional Analysis:
North America will dominate the Industry
North America market accounted for $8,456.3 million in 2018 and is foreseen to grow with a CAGR of 7.0% in the forecast period. This growth is due to the presence of large number of industrial companies, rise in the disposable income, and higher standard of living.
Leading 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
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The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Recent Developments in the Market
The key players of the market are focusing mainly on developing different strategies such as product development, merger and acquisition, partnership and collaboration to stay ahead of the race. For example, Essen, Germany. Evonik has successfully closed the acquisition of the US-based company PeroxyChem in February 2020, for US$640 million after the responsible court in Washington D.C. dismissed the lawsuit filed by the Federal Trade Commission (FTC) to block the acquisition. This acquisition has unleashed many additional opportunities for growth of Evonik.
The report summarizes various aspects of all the prominent players functioning in the market such as financial performance, recent strategic moves & developments, product portfolio, and SWOT analysis. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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