NEW YORK, Oct. 26, 2020 /PRNewswire/ -- Around 1.5 million people die of diarrhea each year, and almost 58% of these deaths are attributed to unsafe water supply, says the World Health Organization (WHO). With several initiatives being taken by the organization to raise awareness on safe drinking water, the global water treatment chemicals market, which valued $48,938.1 million in 2019, will cross $85,341.8 million by 2030, at a CAGR of 5.2% between 2020 and 2030, according to the market research report published by P&S Intelligence.
The discharge of huge volumes of untreated effluents into waterbodies by manufacturing facilities, commercial spaces, and domestic sewage systems continues to make the case for the water treatment chemicals market growth around the world. Moreover, people in backward areas around the world do not have access to safe drinking water, which is why they resort to drinking from polluted sources, thereby leading to a rise in the incidence of waterborne diseases.
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Despite the shut down of manufacturing plants, the water treatment chemicals market has been somewhat positively impacted by the COVID-19 pandemic. Adequate water intake is said to be a good way to remove toxins from the body, which is why the demand for potable water has risen substantially during this period. Additionally, as per the WHO, washing the hands frequently with soap is one of the best ways to protect oneself from the virus, which is another reason for the high demand for such chemicals at water treatment plants.
Browse report overview with COVID-19 impact analysis on Water Treatment Chemicals Market Research Report: By Type (Coagulants & Flocculants, Corrosion Inhibitors, Scale Inhibitors, Chelating Agents, Biocides & Disinfectants, PH Adjusters & Stabilizers, Anti-Foaming Agents, Oxidants, Oxygen Scavengers), Application (Raw Water Treatment, Water Desalination, Cooling, Boiler, Effluent Water Treatment), End User (Power Generation, Municipal Water Treatment, Chemical Processing, Pulp and Paper, Food and Beverages, Metal and Mining, Oil and Gas, Construction)- Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/water-treatment-chemicals-market
The raw water treatment division, based on application, is predicted to observe the highest value CAGR, of 5.8%, in the water treatment chemicals market, in the coming years. Around the world, the necessity of treating groundwater, rainwater, and water from infiltration wells, rivers, seas, and lakes is increasing. Further, the booming population in Africa, Brazil, China, and India is raising the demand for potable water.
In the past, the municipal water treatment classification dominated the water treatment chemicals market, under segmentation by end user. Apart from the burgeoning population, the norms related to the purity standards to be met by municipal water agencies are rather strict in developed countries. These are two of the prime reasons behind the perpetually increasing consumption of water treatment chemicals by municipal bodies.
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The Asia-Pacific (APAC) region has been holding the largest share in the water treatment chemicals market up till now, and it is also projected to grow the fastest in the industry in the immediate future. On account of the rising living standards of people and rapid industrialization, the requirement for clean water has risen manifold here. But, with factories releasing toxic waste into the waterbodies, governments here have come into action, implementing strict water quality regulations.
In order to strengthen their position in the water treatment chemicals market, companies offering such products are merging with or acquiring other associated firms, so that they can:
- Widen their customer base
- Be better placed in the market of different countries
- Augment their water treatment chemical production output
- Create a stronger unified company or business unit
- Expand their manufacturing base
The most important players in the global water treatment chemicals market are Ecolab Inc., BASF SE, SUEZ, Kemira Oyj, SNF s.a.s., Solenis LLC, Solvay S.A., Akzo Nobel N.V., The Dow Chemical Company, and Buckman Laboratories International Inc.
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SOURCE P&S Intelligence