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(Health-NewsWire.Net, June 28, 2022 ) According to a new market research report titled, ‘Water and Wastewater Treatment Chemicals Market by Type (Corrosion Inhibitors, Coagulants and Flocculants, and Biocides), Source (Bio-based, Synthetic), End User (Residential, Municipal, and Industrial), and Geography - Global Forecast to 2029’, the global water and wastewater treatment chemicals market is projected to reach $37.71 billion by 2029 at a CAGR of 3.6% from 2022 to 2029.
Water and Wastewater Treatment Chemicals are the chemicals used for water treatment after it undergoes primary usage domestically or industrially. Water and wastewater treatment chemicals are used for boiler, cooling, and membrane water treatment. Water and wastewater treatment chemicals have several cleaning, disinfecting, and pH adjustment properties and others. As water is recycled in many industries, there are several end-user industries of water and wastewater treatment chemicals, including oil & gas, mining, pulp & paper, chemical & fertilizer, pharmaceutical, municipal, textile, and food & beverage.
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The growth of the water and wastewater treatment chemicals market is attributed to the rapid population growth, urbanization, stringent water treatment regulations, stringent regulatory & sustainability mandates concerning the environment, lack of freshwater resources, and increasing prevalence of waterborne diseases. Furthermore, growing demand for energy-efficient, rising population and rapid urbanization in emerging economies, and advanced water treatment technologies are expected to create significant opportunities for the players in this market.
However, the need for eco-friendly formulations and vulnerability regarding the copying of patents and upgrading & repairing of aging water infrastructure pose challenges to the growth of this market.
The Impact of COVID-19 on the Water and Wastewater Treatment Chemicals Market
The outbreak of the COVID-19 pandemic drastically impacted several manufacturing & processing industries globally. The industries severely affected due to changes in consumer behavior, low production, and dependency on end-user markets and are expected to recover slowly are oil & gas, construction machinery, rubber & plastic machinery, and power generation. Some moderately impacted industries include mining, robotics, building technology, electronics, paper & pulp, and processing equipment. The water and wastewater treatment chemicals market is combating supply chain disruptions, including lack of workforce, unavailability of raw materials, and logistical restrictions. The industry is observing a massive disruption as companies have started shifting their business strategies. This impacted the demand for water and wastewater treatment chemicals for the first half of 2020. The demand from the oil and gas sector decreased during the pandemic, decreasing the demand for water and wastewater chemicals from this segment during the COVID-19 pandemic. However, the demand for water and wastewater treatment chemicals grew during the covid-19 pandemic due to the increasing awareness about clean water usage.
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The increasing demand for wastewater treatment is attributed to the growing necessity for an effective approach to properly dispose of industrial wastewater. Additionally, the COVID-19 pandemic resulted in the need for proper and advanced wastewater treatment in hospitals to curb the spread of the virus. As a result, decentralized wastewater treatment plants with multiple disinfection barriers in quarantine centers and isolation wards gained popularity during the COVID-19 pandemic.
The pandemic also slowed investments in new water and wastewater treatment plants in many micro, small, and medium-sized enterprises worldwide due to the decline in revenues and outcomes. It also increased the importance of operational reliability due to the cost of disruption. Many large water sectors have downscaled or reduced activities resulting in declining industrial demand. The decline in demand from large industrial & commercial users due to lockdowns and travel restrictions is expected to significantly reduce water utility revenues. A Global Water Leaders Group survey estimates that the industrial water demand will fall by 27 % due to the COVID-19 pandemic. Deeper revenue losses are projected across the whole water supply chain, including operators, technology companies, contractors, chemical suppliers, and consultants.
Furthermore, operations were affected due to the increased risk of infection among utility staff. Operational continuity and flexibility are key to keeping essential water and sanitation services running while pushing forward ongoing construction projects. Many government bodies identified people working in the water and sewerage industry as essential workers, enabling utilities to maintain continuity of service. Supply chain and logistics disruptions have also been reported. These factors are expected to impact the water and wastewater treatment market.
The water and wastewater treatment chemicals market is segmented based on type, source, end user, and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on type, the water and wastewater treatment chemicals market is segmented into corrosion inhibitors, coagulants and flocculants, biocides and disinfectants, scale inhibitors, ph adjusters and softeners, anti-foaming agents, odor removal agents, and others. In 2022, the coagulants and flocculants segment is expected to account for the largest share of the water and wastewater treatment chemicals market. The major factors attributed to the growth of this segment is the increased use of these chemicals in municipal and wastewater treatment in various industries such as power, oil & gas, chemical, and petrochemical. Coagulation and flocculation are used in the tank of chemical products of oil and gas plants. The coagulation process fastens the sedimentation process. The coagulants are in the form of organic and inorganic compounds such as aluminum hydroxide chloride and aluminum sulfate. The reason for adding coagulants is to remove 90% of the suspended solid particles from the wastewater during treatment.
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Based on source, the water and wastewater treatment chemicals market is segmented into biobased and synthetic. In 2022, the biobased segment is expected to account for the largest share of the water and wastewater treatment chemicals market. The rapid growth of the biobased segment is attributed to the benefits of biobased chemicals. Biobased products are an alternative to conventional petroleum-derived products and include a diverse range of offerings such as lubricants, detergents, inks, fertilizers, and bioplastics.
Based on end user, the water and wastewater treatment chemicals market is segmented into residential, municipal, and industrial. In 2022, the municipal segment is expected to account for the largest share of the water and wastewater treatment chemicals market. The growth of this segment is attributed to the growing focus on improved water quality & public health, the growing number of water treatment projects, especially in Asian countries, and the aging infrastructure in developed countries. Moreover, an increase in environmental concerns and a rise in stringent regulations & legislations regarding wastewater are also key drivers of the municipal water and wastewater treatment market. Governments and regulatory authorities have formulated and implemented various regulations to promote water conservation and reduce water pollution.
Based on geography, the water and wastewater treatment chemicals market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia Pacific is expected to account for the largest share of the water and wastewater treatment chemicals market. The growth of this market is driven by the region’s rapid population growth & urbanization, rising demand for the advanced treatment of residential water, advances in membrane technology, increased environmental deterioration, limited availability of water resources, and public sector organizations’ increasing investments in water infrastructure.
Some of the key players operating in the water and wastewater treatment chemicals market are BASF SE (Germany), Ecolab Inc. (U.S.), Solenis LLC (U.S.), SNF (France), Kemira Ojy (Finland), Baker Hughes Company (U.S.), Organo Corporation (Japan), The Dow Chemical Company (U.S.), SNF Floerger (France), LANXESS AG (Germany), Suez S.A. (France), Albemarle Corporation (U.S.), Chembond Chemicals Limited (India), K+S Aktiengesellschaft (Germany), and Kurita Water Industries Ltd. (Japan).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/water-and-wastewater-treatment-chemicals-market-5302
Meticulous Research™
chhagan yadav
+91 744-7780008
chhagan.y@meticulousresearch.com
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