Advancements in Technology Boost Water Treatment Chemicals and Technology Market : Transparency Market Research
Water treatment is the process of removing contaminants present in water, so as to make it safe and clean for human consumption. The type of chemicals and quantity of chemicals utilized for the treatment of water differ as per the location where water needs to be treated. Factors determining the quality of water such as its hardness, pH balance, and total dissolved solids (TDS) also play a role in the selection of a chemical and its quantity. The market for water treatment chemicals and technology includes the equipment and technologies necessary for the treatment of water.
According to a report published by Transparency Market Research, the global water treatment chemicals and technology market which was valued at US$115.81 bn in 2012 is expected to reach US$149.89 bn by the end of 2018, expanding at a CAGR of 3.8% between 2013 and 2018. The growth can be attributed to the introduction of new and innovative products in the industry.
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Growing Industrialization Spurs Demand for Water Treatment Chemicals and Technology
The global water treatment chemicals and technology market is boosted by the growing industrialization across the globe. Industries expel harmful waste matter, which mixes with ground water and contaminate it. Thus, industrialization leads to pollution of water, making it absolutely essential to treat water, boosting the market. The growing population, stringent government policies for clean water supply, and rising demand for clean water, for various purposes are collectively driving the water treatment chemicals and technology market. The replacement of old equipment and advancements in technology are the prime growth drivers for the market in developed countries.
The water treatment chemicals and technology market may face obstacles in the form of inadequate funding from the public and private sector. The high cost of water treatment technology and chemicals will also curb the market. However, increasing regulatory pressure for industrial and domestic wastewater and effluent treatment is expected to open new opportunities for the market players. Increasing depletion in fresh water reserves will also ensure the growth of the global water treatment chemicals and technology market.
Asia Pacific to Exhibit Highest Growth Rate in Water Treatment Chemicals and Technology Market
The global water treatment chemicals and technology market is segmented on the basis of geography into Europe, Asia Pacific, North America, and Rest of the World. Out of these, Asia Pacific is projected to witness the fastest growth, expanding at 5.1% CAGR between 2011 and 2018. On the basis of chemicals, the market is segmented into coagulants and flocculants, anti-foamants and defoamers, corrosion and scale inhibitors, activated carbon biocides, and others. The market for corrosion and scale inhibitors has emerged as the biggest segment in the overall market.
Some of the major companies operating in the global water treatment chemicals and technology market are: Kemira, Akzo Nobel, Ashland Hercules, Flowserve Corp., Nalco, GE Tech, KSB Co., Kirloskar Ebara, Grundfos, ITT Corp., Pentair, Tyco Int., Emerson, Dresser, BASF, Dow Water & Process Solutions, and KITZ Corp.
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