Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "Water and Wastewater Treatment Chemicals Market by Type, Source, End User, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global wastewater treatment chemicals market is projected to reach $ 52.01 billion by 2029 at a CAGR of 4.7% from 2022 to 2029.
The growth of this market is driven by rapid population growth & urbanization, stringent water treatment regulations, regulatory and sustainability mandates concerning the environment, the lack of freshwater resources, and the increasing prevalence of waterborne diseases. However, the high installation, maintenance, and operating costs of wastewater treatment plants restrain the growth of this market.
The growing demand for energy-efficient and advanced water treatment technologies is expected to create market growth opportunities. However, the high cost of upgrading and replacing aging water infrastructures is a major challenge for market growth.
The water and wastewater treatment chemicals market is segmented based on type, source, end user, and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on type, the water and wastewater treatment chemicals market is segmented into corrosion inhibitors, coagulants and flocculants, biocides and disinfectants, scale inhibitors, pH adjusters and softeners, anti-foaming agents, odor removal agents, and others. The coagulants and flocculants segment is expected to grow at the highest CAGR during the forecast period.
The major factors attributed to the growth of this segment include the increased use of these chemicals in municipal and wastewater treatment in various industries such as power, oil & gas, chemical, and petrochemical. Coagulation and flocculation are mostly used in the tank of chemical products of oil and gas plants. The coagulation process fastens the sedimentation process. The coagulants are in the form of organic and inorganic compounds such as aluminum hydroxide chloride and aluminum sulfate. The reason for adding coagulants is to remove 90% of the suspended solid particles from the wastewater during treatment.
Based on source, the water and wastewater treatment chemicals market is segmented into bio-based and synthetic. The bio-based segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of the biobased segment is attributed to the benefits of biobased chemicals. Biobased products generally provide an alternative to conventional petroleum-derived products and include a diverse range of offerings such as lubricants, detergents, inks, fertilizers, and bioplastics.
Based on end user, the water and wastewater treatment chemicals market is segmented into residential, municipal, and industrial. The industrial segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing industrialization & urbanization, declining freshwater resources, increasing energy demand across the globe, and a rising focus on water quality and public health.
Based on geography, the water and wastewater treatment chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. The rapid growth of this region is attributed to the increasing government initiatives and expenditure on adopting smart solutions for public water distribution systems to provide seamless water supply to consumers.
Furthermore, the increasing need to replace the age-old water infrastructure is expected to enable water managers in this region, to deploy smart solutions by replacing the existing systems for better water management. These factors are anticipated to drive the market growth during the forecast period.
Market Dynamics
Market Drivers
- Rapid Population Growth & Urbanization and Stringent Water Treatment Regulations
- Regulatory and Sustainability Mandates Concerning the Environment
- Lack of Freshwater Resources
- Increasing Prevalence of Waterborne Diseases
Market Restraints
- High Installation, Maintenance, and Operating Costs of Wastewater Treatment Plants
Market Opportunities
- Growing Demand for Energy-efficient and Advanced Water Treatment Technologies
Market Challenges
- High Cost of Upgrading and Replacing Aging Water Infrastructures
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. The Impact of COVID-19 on the Global Water and Wastewater Treatment Chemicals Market
5. Market Insights
6. Water and Wastewater Treatment Chemicals Market, by Type
7. Water and Wastewater Treatment Chemicals Market, by Source
8. Water and Wastewater Treatment Chemicals Market, by End User
9. Water and Wastewater Treatment Chemicals Market, by Geography
10. Competitive Landscape
11. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
12. Appendix
Companies Mentioned
- BASF SE (Germany)
- Ecolab Inc. (U.S.)
- Veolia Environnement SA (France)
- Thermax Limited (India)
- Kemira Oyj (Finland)
- The Dow Chemical Company (U.S.)
- Suez S.A. (France)
- Kurita Water Industries Ltd. (Japan)
- Calgon Carbon Corporation (Japan)
- Albemarle Corporation (U.S.)
- SNF (France)
- Organo Corporation (Japan)
- Chembond Chemicals Limited. (India)
- LANXESS Group (Germany)
- K+S Aktiengesellschaft (Germany).
For more information about this report visit https://www.researchandmarkets.com/r/u2t4h4
