Water and Wastewater Treatment Chemicals Market: The Need for a Sustainable and Safe Blue Planet!
The water crisis is one of the most crucial issues faced by humankind, and several organizations are pressing on making its judicial use for surviving another century. According to the research by the World Health Organization (WHO), by the year 2025, around half of the global population would be living in water-stressed regions. Several factors, such as poor sanitation conditions in various developing countries, extensive usage of freshwater resources, and contamination of natural reservoirs, have driven the rate of transmission of water-borne diseases such as typhoid, hepatitis A, dysentery, diarrhea, and polio. This fast-paced depletion calls for a paradigm shift in water management methodologies to save the sensitive ecosystem from further damage and provide clean water free from waste.
Considering the sensitivity of the situation and the dying need for action, BIS Research analysts have found that the global market for water and wastewater treatment is expected to grow at a CAGR of 5.35% during the period 2019–2029 while accounting to $37.20 billion by 2029. With innovations and projects such as smart water solutions, zero liquid discharge technologies, and resource recovery, several global organizations are putting efforts to turn the clock and reduce the level of waste in water sources. Companies are also working on integrating the water treatment plants and industries with emerging technologies that can enhance their capabilities for treating wastewater and recover waste energy resources.
Multiple factors, such as increasing rate of environmental awareness among people, change in climate, intense pressure on the agriculture industry, among others, are adding to the rise in water treatment chemicals. Government authorities in developed regions are also imposing environment protection laws and regulations to minimize the addition of waste effluents in water bodies. However, chemical manufacturers have moved their production bases to developing-economy nations, with lesser labor costs and flexible environmental laws.
Treating water and wastewater with coagulants and flocculants is a low-cost treatment procedure and is expected the dominate the market share in the coming years. In industries for mining, oil & gas, power generation, and others, coagulants and flocculants have witnessed significant demand as treatment chemicals. Apart from these, industries also utilize corrosion inhibitor, biocides and disinfectants, scale inhibitors, and others, as an option for water treatment. Owing to the rise in urbanization and advancements in technology, the municipality sector is the fastest-growing user segment over the forecast period.
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Across the globe, the growth rate of the market in the Asia-Pacific region, especially in countries such as China and Japan, has been highest, and this accounts for a major portion of the market share. With the presence of companies such as Kemira, Kurita Water Industries Ltd., and Ecolab, and various R&D institutes, this region is favored by the vast industrial base and encouraging government policies. Other than this, North America and Europe are also significant contributors to the market share. To expand and boost their business network, companies are looking at entering into strategic partnerships, mergers, acquisitions, and launching improved products to gather a greater user base and improve revenue. Leading manufacturers for water and wastewater treatment chemicals include Kemira, Kurita Water Industries Ltd., SOLENIS, Ecolab, and SUEZ.
