The water treatment additives market is estimated to reach US$35.2 billion by 2020 at a CAGR of 5.9%, driven by high rates of industrialisation in the Asia Pacific region and government regulations, according to a new report from IndustryARC entitled ‘Water Treatment Additives Market – Global Forecast to 2020’.
Water treatment is the process of removing existing contaminants from water so that it becomes fit for its desired end use, such as for drinking, industry or medicinal purposes. Usage of water treatment additives is necessary to achieve an optimised process. They have a wide range of applications in the pulp and paper industry, power industry, oil and gas industry, food and beverage industry, water industry, wastewater industry, electronics, chemicals and others. The key factors driving demand for water treatment additives are the demand for clean water, rapid industrialisation, environment, government policies and increasing population. In the report, the market has been segmented into the type of additives being used, which include scale inhibitors, corrosion inhibitors, oxygen scavengers, defoamer, biocides, organic polymer and others.
The organic polymers segment accounted for a market share of around 26% in the global revenue and 25% in the global volume as of 2014. Scale inhibitors have an equal revenue share as organic polymers, but the volume share is slightly higher at around 29%. With increasing water scarcity and government regulations upon safe water usage, the requirement of water treatment additives has been increasing.
The water treatment additives market in 2015 was valued at US$26.4 billion, according to research conducted by IndustryARC, and is dominated by the Asia Pacific (APAC) region, which has more than 35% of the market revenue share. Asia Pacific is the most encouraging market for water treatment additives, owing to the increasing demand from countries such as China and India, and is estimated to reach 38% of the global market by 2020. China, among all the countries, is the most promising market, with rising demand for the water treatment sector due to severe water shortages, resulting from its large population and water pollution caused by rapid economic growth.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/15022016/global-water-treatment-additives-market-to-grow-2487/