Water and wastewater treatment chemicals refer to various chemicals used in treating contamination from different sources of water. These chemicals are used to purify water by removing suspended particles, pathogens, chemicals, and other contaminants. They play a vital role in ensuring safe drinking water and preventing water pollution. Some commonly used water treatment chemicals includes coagulants & flocculants, corrosion & scale inhibitors, pH adjusters & softeners and disinfectants & biocides. The chemicals find wide application in municipal and industrial water and wastewater treatment.
The global water and wastewater treatment chemicals market is estimated to be valued at US$ 35339.74 Mn in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing Industrialization and Urbanization: Rising industrialization and rapid urbanization in developing nations have led to increased stress on water resources due to discharge of untreated industrial wastewater and sewage. This is prompting investments in water and wastewater treatment facilities, thereby driving growth of the market. As highlighted above, increasing industrialization and urbanization has been fueling demand for water treatment chemicals from municipal as well as industrial sectors.
Growing Awareness Regarding Water Conservation: Scarcity of freshwater sources owing to climate change, rapid population growth, and environmental pollution has boosted awareness regarding proper treatment and conservation of available water resources. Stringent regulations limiting discharge of toxic and untreated wastewater have further compelled industries to invest in advanced water treatment facilities and technologies. This is augmenting demand for various water treatment chemicals.
Segment Analysis
The global water and wastewater treatment chemicals market size is dominated by the municipal sub-segment, which holds around 60% share of the overall market. Municipal wastewater contains various contaminants in form of heavy metals, pathogens, suspended solids etc released from domestic, commercial and industrial sources. Extensive use of water treatment chemicals such as coagulants & flocculants, corrosion inhibitors, pH adjusters & softeners etc are required to treat municipal wastewater as per the discharge standards, which makes the municipal sub-segment the dominating one.
PEST Analysis
Political: Stringent regulations regarding permissible limits of pollutants in treated wastewater discharge are driving the market. The Clean Water Act in US and Urban Wastewater Treatment Directive in EU mandate proper treatment of wastewater.
Economic: Rising population and rapid urbanization are increasing the volumes of wastewater generation. Growing industrialization is also contributing to the problem of pollution. All these factors are positively impacting the market growth.
Social: Growing awareness about water conservation and need for reuse of treated wastewater for non-potable purposes is favouring the adoption of advanced treatment technologies requiring extensive use of chemicals.
Technological: Innovation of advanced treatment techniques like membrane bioreactors, ozonation etc and development of novel eco-friendly chemicals are enhancing the treatment efficiencies. Use of automation and real-time monitoring systems in treatment plants is also common now.
Key Takeaways
The global water and wastewater treatment chemicals market is expected to witness high growth during the forecast period of 2023 to 2030 supported by factors like increasing freshwater scarcity, stringent wastewater discharge regulations and expansion of industrial sector. The municipal sub-segment dominates currently due to extensive use of treatment chemicals in large volumes for municipal wastewater treatment to meet stringent quality standards for discharge or reuse.
Regional analysis: The Asia Pacific region holds around 35% share of the overall market currently due to high freshwater usage and rapid industrial development in countries like China and India. Stringent local laws regarding resource recovery from wastewater have propelled the market growth. Other fast growing regions include Latin America and Middle East & Africa owing to growing urbanization and industrialization.
Key players operating in the water and wastewater treatment chemicals market are Honeywell International, Hamamatsu Photonics K.K., Daylight Solutions, Cascade Technologies, M Squared Lasers Limited, Teledyne FLIR LLC, IPG Photonics Corporation, Changchun New Industries Optoelectronics Tech. Co., Ltd. Honeywell International is one of the largest players dominating the chemicals production for water treatment applications.