Water and Wastewater Treatment Chemicals Market Size Set to Touch Whooping USD 41.32 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global water and wastewater treatment chemicals market size at USD 32.85 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global water and wastewater treatment chemicals market size to grow at a CAGR of 2.84% reaching a value of USD 41.32 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global water and wastewater treatment chemicals market size at USD 32.85 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global water and wastewater treatment chemicals market size to grow at a CAGR of 2.84% reaching a value of USD 41.32 billion by 2029. Increased wastewater volume brought on by growing economic activities and thriving sectors, including industrial, automotive, and petrochemical, are significant growth factors for the global water and wastewater treatment chemicals market. During the forecast period, the stringent regulations established by different countries to guarantee the safe disposal of wastewater in water bodies are predicted to play a significant role in driving the global water and wastewater treatment chemicals market.
Global Water and Wastewater Treatment Chemicals Market – Overview
Water resources and biodiversity suffer catastrophic damage when wastewater that has either not been properly treated or has been handled insufficiently is dumped in the environment. To safeguard the general public's health and water supplies, it is vital to clean wastewater and promote its reuse. According to Europa, wastewater treatment chemicals and techniques are deployed to convert all hazardous waste into harmless gasses or, more commonly, alter the chemical composition of the waste.
Global Water and Wastewater Treatment Chemicals Market
Segmental Information
Global Water and Wastewater Treatment Chemicals Market – By End User
Based on end user, the global water and wastewater treatment chemicals market is segmented into oil & gas, power, mining, pulp & paper, chemical & fertilizer, pharmaceutical, municipal, textile, food & beverages, and others. The municipal segment accounts for the highest market share owing to the high wastewater generation from domestic use. The rising water scarcity concerns across both developed and developing economies and increasing demand for water in various industries, such as manufacturing and pharmaceuticals, are prompting the countries to treat their municipal wastewater, which is directly influencing the market demand for water and wastewater treatment chemicals.
Impact of COVID-19 on Global Water and Wastewater Treatment Chemicals Market
The COVID-19 pandemic had a negative impact on the global water and wastewater treatment chemicals market. The chemical industries' manufacturing processes, supply chains, and supply management were momentarily interrupted by the deployment of the lockdown. Additionally, because of the significant danger of viral transmission and a shortage of workers, the operations of the wastewater treatment facilities were also hampered during this time. Furthermore, the industry participants suffered significant losses as a result of the suspension of production, manufacturing, oil & gas, and activities in the different end-use industries.
Competitive Landscape
Major players operating in the global water and wastewater treatment chemicals market include Kemira Oyj, ION EXCHANGE (I) Ltd, Thermax Ltd, BASF-SE, GE Water & Process Technologies, Dorf Ketal, Chembond India Ltd, SNF Floerger, Vasu Chemicals, DuPont de Nemours, Inc., Goldcrest, and Shandong Taihe Water Treatment Technologies Co. Ltd.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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