PORTLAND, Oregon, April 12, 2016 /PRNewswire/ --
According to a new report by Allied Market Research, titled, "World Water Treatment Chemicals Market - Opportunities and Forecasts, 2015 - 2022", the water treatment chemicals market would reach $31.7 billion by 2022, registering a CAGR of 4.5% during 2016 and 2022. The corrosion inhibitors segment held about two-ninth of the total market in 2015. North America and Europe collectively accounted for about half of the market share in the same year.
To know more about the report, visit the website at https://www.alliedmarketresearch.com/water-treatment-chemicals-market
The chemicals used to purify water and prevent corrosion of the treatment equipment are termed as water & wastewater treatment chemicals. The global demand for water & wastewater treatment chemicals has gained traction owing to stringent government regulations for the use of contaminated water and discharge from industries & municipalities. Other factors that drive the water treatment chemicals market include, increase in water dependence of industries and awareness to purify domestic water. However, factors expected to hamper the market growth include, adoption of treatment processes such as UV radiation and membrane technology.
The industrial water treatment chemicals market occupied the highest share of 44% in the global water treatment chemicals market, in 2015 and is expected to maintain its lead throughout the analysis period. In the industrial segment, power generation leads in terms of consumption of water treatment chemicals owing to an excess amount of water usage to remove, process & transport fossil fuels. The refineries segment is expected to be the fastest growing application during the forecast period.
Key findings of the study
Corrosion inhibitors segment occupied highest share in 2015.
Asia-Pacific is projected to continue to lead the market throughout 2022.
Drinking water segment in municipal water treatment chemicals market is expected to retain the highest demand throughout the analysis period.
The U.S. is the leading consumer of water treatment chemicals in North America.
In terms of volume, scale inhibitors & dispersants is projected to be the fastest growing segment during the forecast period.
North America and Europe collectively accounted for more than half of the total water treatment chemicals market in 2015, and are expected to maintain their lead throughout the forecast period. One of the factors that supports this trend is the outburst of cryptosporidium in the Americas during 1990s, resulting in an increased treatment regulation in municipalities. However, LAMEA is projected to be the fastest growing segment due to an increase in industrial activities, during period under consideration.
The prominent players profiled in this report include, Kemira Oyj, GE Water & Process Technologies, BASF SE, Ecolab Incorporated, BWA Water Additives, Cortec Corporation, The Dow Chemical Company, Buckman Laboratories International Inc., Solvay S.A., and Akzo Nobel N.V.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research