Global Water Treatment Chemicals And Technology Market: Snapshot
Over the last few years, the global water treatment chemicals and technology market has been exhibiting steady growth. The market is gaining impetus from the increasing demand for freshwater across the globe. The rising depletion of freshwater reserves around the world has therefore created significant opportunities for the water treatment and chemicals market. Besides this, stringent government regulations, increasing population, rapid industrialization, and the demand for clean and fresh water are the chief market drivers.
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The market has been witnessing lucrative opportunities mostly in developed regions as these they boast technology progression, higher demand for equipment replacement, and are at the fore of adopting the latest in technology. However, it has been witnessing occasional fluctuations in terms of generating revenue for water treatment chemicals and equipment makers.
Nevertheless, TMR forecasts the global water treatment chemicals and technology market to exhibit a CAGR of 3.8% between 2013 and 2018. At this pace the market, which had a valuation of US$115.8 mn in 2012, is expected to reach US$149.8 mn by the end of 2018.
Regionally, Europe, North America, Asia Pacific, and Rest of the World constitute the key market segments. With a share of nearly 31.5% North America’s dominance was sealed in 2011. However, exhibiting the highest CAGR of 5.1% over the course of the report’s forecast period, Asia Pacific is likely to emerge as the most lucrative market for water treatment chemicals and technologies.
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Asia Pacific to Exhibit Lucrative Opportunities in Forecast Period
The major regional markets for water treatment chemicals and technology are North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is estimated to rise at a 5.1% CAGR during the forecast period, exhibiting the highest growth rate. This is expected to result in the emergence of Asia Pacific as the dominant geographical segment in the global market for water treatment chemicals and technology by the end of the forecast period.
In the developed nations of North America, however, the market will continue gaining from the rising fuel production from unconventional sources such as shale gas. The opportunities for the market are therefore expected to remain lucrative in Canada and the U.S. through the course of the forecast period. Besides this, it is also expected to gain from the deployment of hydraulic fracturing in the household sector. While this would stimulate the region’s oil and gas sector, the trend is also likely to create better opportunities for the penetration of water treatment chemicals and technology market in North America.
Rising Demand for Rust Prevention to Seal Dominance of Corrosion and Scale Inhibitors Segment
Based on chemicals, the global water treatment chemicals and technology market can be segmented into coagulants and flocculants, corrosion and scale inhibitors, anti-foamants and defoamers, biocides, activated carbon, and others. Of these, the corrosion and scale inhibitors segment emerged dominant in the global water treatment chemicals and technology market in 2012. The segment is expected to gain momentum owing to the increasing usage of corrosion and scale inhibitors in rust protection. Besides this, their extensive usage in the oil and gas and manufacturing industries of North America will help the market rake high profit in the segment over the course of the forecast period.
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Some of the most prominent companies operating in the global water treatment chemicals and technology market are Nalco, Flowserve Corp., Akzo Nobel, KSB Co., Ashland Hercules, Dow Water & Process Solutions, KITZ Corp., and others
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