As per the report published by Kings Research, the global Water Treatment Chemicals Market was valued at USD 31.24 billion in 2023. The market is projected to reach USD 42.93 billion by 2031, growing at a CAGR of 4.26% from 2024 to 2031.
Increasing population growth and rapid urbanization, particularly in emerging economies, are placing immense pressure on water resources, necessitating effective treatment solutions to meet rising demand. Additionally, stringent regulatory frameworks mandating water quality standards across various industries and municipalities are leading to the widespread adoption of water treatment chemicals globally.
Moreover, increasing industrial activities, particularly in sectors such as power generation, oil & gas, and chemical manufacturing, are augmenting the demand for specialized water treatment chemicals to mitigate environmental impact and ensure operational efficiency. Increasing concerns over water scarcity and climate change are propelling demand for advanced treatment solutions worldwide.
Technological innovations, such as smart water management systems and green chemistry formulations, are reshaping the market landscape. Additionally, the globalization of industrial operations and investments in water infrastructure are fueling market expansion. Furthermore, growing awareness regarding waterborne diseases and environmental degradation is prompting investments in advanced water treatment technologies and chemicals. Technological advancements, such as the development of eco-friendly and cost-effective chemical formulations, are expected to spur market expansion.
Key Insights
- Based on product, the coagulants & flocculants segment held the largest market share of 34.55% in 2023
- Based on end use, the municipal segment generated the highest revenue of USD 11.43 billion in 2023
- On the basis of region, Middle East and Africa is projected to garner revenue of USD 5.04 billion by 2031
Lummus Acquires Water Treatment Assets from Siemens Energy
May 2023: Lummus Technology, a leading provider of process technologies and sustainable energy solutions, signed an agreement with Siemens Energy to acquire assets from their water solutions portfolio. This acquisition encompasses copyrights, intellectual property, research and development assets, and trade secrets.
Investment in Water Reuse and Recycling Infrastructure to Offer Promising Opportunities for Water Treatment Chemicals Market Growth
The increasing focus on water reuse and recycling initiatives is aiding market growth. With water scarcity becoming a pressing global issue, there is growing recognition of the importance of maximizing the use of available water resources. Governments, industries, and communities are increasingly investing in the development of water reuse and recycling infrastructure to reduce reliance on freshwater sources and alleviate pressure on strained water supplies.
This presents a potential opportunity for the water treatment chemicals market, as specialized chemicals are essential for treating and purifying wastewater for reuse purposes. Moreover, advancements in treatment technologies and chemical formulations tailored for water recycling applications enhance the market potential, offering sustainable solutions to address water scarcity challenges while promoting environmental stewardship.
Aging Water Infrastructure to Aid Water Treatment Chemicals Market Growth
The aging of water infrastructure in numerous developed countries is contributing significantly to the growth of the market. As existing infrastructure deteriorates and becomes less efficient, there is a growing need for upgrades and replacements to ensure a reliable and safe water supply. This includes retrofitting existing treatment plants with more advanced technologies and chemicals to improve efficiency and address emerging contaminants.
The need to modernize water infrastructure presents a significant opportunity for the expansion of the water treatment chemicals market, as it necessitates the adoption of advanced treatment solutions to meet evolving infrastructure requirements.
Middle East & Africa to Witness Highest Growth, Depicting a CAGR of 5.31% Over 2024-2031
Based on region, the global water treatment chemicals market is classified into North America, Europe, Asia Pacific, MEA, and Latin America. Middle East & Africa is likely to experience significant growth in the foreseeable future. The rapid industrialization and urbanization in the Middle East and Africa, coupled with increasing populations and economic diversification, are propelling the growth of the market.
The expansion of industrial sectors such as oil & gas, petrochemicals, and mining necessitates extensive water treatment processes to meet stringent environmental regulations and ensure sustainable water management practices. Moreover, the presence of arid and semi-arid climates underscores the critical importance of water conservation and efficient water use, driving investments in advanced water treatment technologies and chemicals.
Additionally, government initiatives aimed at improving water infrastructure and enhancing water quality are projected to stimulate market growth. The region's rich reserves of oil and natural gas fuel the demand for water treatment chemicals in extraction and processing operations, presenting lucrative opportunities for regional market expansion.
Companies Launch Cutting Edge Products to Expand Their Market Reach
The global water treatment chemicals market is fragmented with key players such as Dow, Ecolab, Veolia, Evoqua Water Technologies LLC, Buckman, Kemira, Solenis, LANXESS, BASF SE, SUEZ, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.