The water treatment chemicals market was valued at USD 20,736.28 million in 2016, and is estimated to register a CAGR of 5.35% during the forecast period (2018-2023).
One of the major factors driving the growth of the market is the growing demand from power and industrial applications. With the consistent economic growth in the emerging economies such as India, and China, the demand and market growth in the power sector, manufacturing, and industrial sectors is increasing, which in turn, is boosting the demand for water treatment systems and chemicals. On the flipside, the hazardous nature of hydrazine, is expected to hinder the growth of the market.
The market has been segmented based on product type and end-user industry. Under the market segments based on product type, corrosion inhibitors segment dominated the market in 2017. The power industry dominated the global market in terms of water treatment chemical consumption (compared to other end-user industries of water treatment chemical) in 2017.
Asia-Pacific (APAC), North America, Europe, South America and the Middle East & Africa (MEA) are the geographical regions considered for this study. Asia-Pacific region dominated the global market in 2017, and the market in this region is projected to grow with the highest CAGR of 7.29% during the forecast period. The shifting focus toward the usage of green chemicals and the increasing adoption rate in Asia-Pacific and Middle East is expected to offer numerous opportunities for the growth of the global water treatment chemicals market. Some of the major companies dominating the market, in terms of products and services, are Ecolab Inc. (Nalco), SUEZ, Veolia Water Solutions and Technologies, Berwind (BWA Water Additives), and DowDuPont.
Few Notable Developments in the Market