The water treatment chemicals market is projected to hit about $39.71 billion by 2025. It’s estimated that the global market will go over $38.3 billion in 2024 and grow at an annual rate of around 4.6%, possibly reaching more than $68.72 billion by 2037.
Increasing regulatory and sustainability initiatives for water and wastewater treatment by organizations around the world have increased the demand for water treatment chemicals. In developed regions such as North America and Europe, these regulations are very stringent. In Canada, wastewater discharge regulations in the Fisheries Act contain some minimum effluent quality standards that can be achieved with the help of water treatment chemicals.
This growth is driven by growing demand from the sugar and ethanol, fertilizer, geothermal, petrochemical manufacturing, and refining industries, especially in developing markets. The market for water treatment chemicals like Bactericidal Algaecide series, Metal Corrosion Inhibitor series, Organophosphorus series, Oxygen Scavenger series, Polymer series and Surfactants, Decolorizers, Flocculants Series are set to grow a lot because of fast industrial development and urbanization.
APAC Market Forecast
By 2037, the Asia Pacific region is forecasted to hold around 37% of the market share. This growth is mainly due to urbanization, which is boosting industries such as chemicals, power, and oil and gas.
In addition, the increasing urbanization and economic growth in China are expected to drive the development of numerous industries such as municipal, industrial, food and medical beverages, oil and gas, etc., as these industries have a high demand for fresh water, which is expected to drive the growth of the market. According to the International Trade Administration, China plans to build 80,000 kilometers of sewage collection pipelines and increase sewage treatment capacity by 20 million cubic meters between 2021 and 2025.
North America Market Statistics
The North American region is expected to account for a significant water treatment chemicals market share by 2037, which can be attributed to the increasing penetration of water treatment facilities in the upstream oil and gas industry, natural gas industry, and severe water shortage.
Furthermore, in Canada and the U.S., the growing demand for water and wastewater treatment in municipal and industrial sectors due to the wide range of properties of water treatment chemicals is expected to drive the market growth. USEPA has given high priority to the improvement of water supply and wastewater facilities, especially in the area of local wastewater treatment, and plans to invest approximately USD 600 billion in capital improvements over the next 20 years.
