The global water treatment chemicals market size is projected to grow from USD 39.1 billion in 2021 to USD 61.1 billion by 2026, at a CAGR of 9.3% between 2021 and 2026.
Europe and North America are the two most established markets for water treatment chemicals, worldwide. However, recently, the growth has come from the emerging/developing economies in the Asia Pacific region (China and India). This was primarily due to the increasing population and the increasing demand for clean, fresh water for agricultural and industrial purposes and rapid industrialization. China is the largest water treatment chemicals market in APAC, representing more than 20% of the global water treatment chemicals market, in 2019. With almost 20% of the global population and only 6% of the global freshwater resources, the water sector of China is a high priority area in the 14th Five Year Plan for Ecological & Environmental Protection (2020-2025). The urbanization and the rising environmental concerns further improve the scope for the use of WTCs in wastewater treatment. As a part of the 14th Five Year Plan, the government of China proposed the establishment of a unit-based management for water resource quality, strategies to tackle pollution, policies for the protection of water bodies, rules for the improvement of urban water bodies, and the overall improvement in water quality.
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India has potential in the field of water treatment. It has 16% of the global population and only 4% of freshwater resources. The total utilizable water resource in the country is 1,123 billion cubic meters (BCM). By 2025, the demand for domestic and industrial use may increase up to 29.2 BCM. Moreover, industries such as food processing, textile, and auto components are growing at a rapid rate in the country. Brazil, Argentina, Chile, and Colombia in South America are also the key markets for water treatment chemicals with their growing water treatment infrastructure investments.
The key players in the water treatment chemicals market include BASF SE (Germany), Ecolab Inc. (US), Solenis LLC (US), Akzo Nobel N.V. (Netherlands), Kemira OYJ (Finland), Baker Hughes (US), Lonza (Switzerland), The Dow Chemical Company (US), Snf Floerger (France), and Suez S.A. (France). These market leaders have adopted various organic as well as inorganic growth strategies between January 2015 and March 2021 to strengthen their position in the water treatment chemicals market. The strategy of expansions was among the major growth strategies adopted by the leading market players to enhance their regional presence and meet the growing demand for water treatment chemicals in emerging economies.
In Jan 2019, Kemira signed an agreement to establish a joint venture – Kemira Yongsan Chemicals Co., Ltd (“NewCo”) in Ulsan, Republic of Korea, with Yongsan Chemicals, a privately-owned chemical company in South Korea. This joint venture in South Korea is aimed at expanding Kemira’s presence in Asia Pacific and driving profitable growth in the region. NewCo will produce dry polyacrylamide (“DPAM”), cationic monomer Q9 (“AMD”) and other chemicals, which are used for retention & drainage in packaging and paper production, as well as in wastewater treatment and in sludge dewatering.
In January 2019, BASF merged its paper wet-end and water chemicals business with Solenis. The combined business is expected to operate under the Solenis name and offer increased sales, service, and production capabilities across the globe.
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