The Europe water treatment chemicals market is estimated to register a CAGR of 4.55%, during the forecast period, 2018-2023. Germany is estimated to account for the largest share of the market in the region supported by the growing importance of environmental protection and human health in the country. Power generation industry is estimated to be the fastest growing sector and lead the market in terms of revenue contribution.
Radionuclides (molecules that remain radioactive for a long period of time), are naturally and widely present in some groundwater, which can pose high health risks including cancer. The sources for these molecules are nuclear fuel production, phosphate fertilizers and wastewater from mines present in the region. The low levels of copper and lead are also found in the environment and can become toxic when concentrated due to local geology and human activities. The governments are taking measures to curb the content of these harmful pollutants, one of these measures is the water treatment process.
The electric power generation industry is one of the major sources of industrial wastewater. Their wastewater contains significant levels of toxic metal impurities, such as lead, mercury, arsenic, chromium, and cadmium, among others. These impurities can cause significant damage to environment, if not treated properly. Therefore, the electric power generation industry needs water treatment chemicals and is expected to show high demand for water treatment chemicals in the region during the forecast period.
Germany is the region with the highest potential application areas for water treatment chemicals. Germany has more than sufficient water resources to meet its needs. The country uses about one fourths of its available water resources, of which close to 4% is used for human consumption. Environmental protection and human health are considered extremely important in Germany. This importance has led to efficient water and wastewater treatment methods, and nearly 100% wastewater in Germany is treated to meet the highest standards set by the European Union. Thus, the market is expected to grow significantly in the country during the forecast period.
Major Players: BASF SE, Chemtreat Inc., Organo Corp., PQ Corp, Wex Technologies, among others.
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