New York, USA, July 13, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global specialty water treatment chemical market is projected to generate a revenue of $53,465.0 million and grow at a CAGR of 6.1% during the forecast timeframe from 2019 to 2026.
Factors Impacting the Specialty Water Treatment Chemical Market Growth
As per our analysts, with the increasing government initiatives for conserving water due to the rising population and increasing concern of climate change worldwide, the specialty water treatment chemical market is predicted to experience alarming growth over the forecast period. Besides, the rising demand for chemically treated water in the various end-use industry is expected to bolster the growth of the market during the analysis timeframe. Moreover, the increasing development of eco-friendly chemical products to separate oil deposits and grease from wastewater is expected to create wide growth opportunities for the market over the forecast period. However, the alternative wastewater treatment methods may hinder the growth of the market throughout the estimated timeframe.
Segments of the Specialty Water Treatment Chemical Market
The report has divided the market into segments based on type, end-use industry, and region.
Type: Biocides Sub-Segment to be Most Productive
The biocides sub-segment accounted for $6,591.9 million in 2018 and is predicted to grow at a CAGR of 5.2% during the forecast period. The increasing use of biocides in many industrial, commercial, and manufacturing processes such as in cooling towers, cold-water storage tanks, and many more to purify and reuse water for operational work is expected to fortify the growth of the market sub-segment over the analysis timeframe.
End-Use Industry: Municipal Sub-Segment to be Most Profitable
The municipal sub-segment generated $6,325.6 million in 2018 and is expected to rise at a CAGR of 5.2% throughout the estimated period. The increasing use of combining various processes for municipal drinking water is predicted to propel the growth of the market sub-segment during the analysis period.
Region: North America Region to Have Enormous Growth Opportunities
The North America region of the specialty water treatment chemical market accounted for $8,456.3 million in 2018 and is projected to grow at a CAGR of 7.0% during the forecast timeframe. The strong existence of a large number of industrial companies and increasing disposable income and higher living standards of individuals in this region are predicted to drive the regional growth of the market over the estimated period.
Key Players of the Specialty Water Treatment Chemical Market
The major players of the specialty water treatment chemical market include
- Huntsman International LLC.
- Chemtura Corporation
- AkzoNobel N.V.
- Rhodia S.A.
- Bayer AG
- Clariant AG
- The Dow Chemical Co.
- Evonik Industries AG
- BASF SE
- Novozymes A/S
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the leading industry.
For instance, in September 2021, Univar Solutions, a global chemical and ingredients distributor and provider of value-added services announced its collaboration with Novozymes A/S, a global leader in biological solutions. With this collaboration, the companies aimed to include biological solutions for waste and wastewater treatment all across the United States and Canada.
Further, the report also summarizes other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
More about Specialty Water Treatment Chemical Market:
- The chemical water treatment market and how it affects us all
- Innovations in Specialty Water Treatment Chemical Market to provide clean water for human consumption
