Specialty Water Treatment Chemical Market Insights and Forecast, 2019-2026Download Sample Reports Overview
The specialty water treatment chemicals market is predicted to generate a revenue of $53,465.0 million by 2026 with a CAGR of 6.1% in the estimated period.
Specialty water treatment chemicals are the chemicals used to remove waste particles such as solid waste, bacteria, fungi, and other unwanted minerals from wastewater for the purification of water. The treatment involves both, chemical and physical, processes for removing impurities from wastewater. Mostly, chemical treatment involves boiler water treatment, cooling water treatment, purification of water and treatment of wastewater effluent.
The government rules and regulations for conserving water are predicted to be the major driving factor for the specialty water treatment chemical market in the estimated period. The government across the globe is concerned about the growing population and the availability of water for their basic need is the biggest problem. So, governments of various countries are focused on cleaning the wastewater for reuse, which is predicted to boost the sale of the specialty water treatment chemical market over the estimated period.
There are various alternative ways of cleaning wastewater, including biological treatment, physical treatment and sludge treatment, which is predicted to hamper the growth of the Specialty Water Treatment Chemical Market in the estimated period.
The eco-friendly way of treating wastewater is predicted to create a huge opportunity for the specialty water treatment chemical market. The eco-friendly wastewater treatment system is developed to provide an efficient method to purify wastewater at a lesser cost.
Corrosion inhibitors segment is predicted to have the highest growth rate over the estimated period, generating a revenue of $7,752.4 million with a CAGR of 6.6% in the estimated period. Corrosion inhibitors are applied to sewage tanks and pipes forming a surface layer that controls the wastage of water. Corrosion inhibitors enable oxidation which helps in the further decomposition of the impurities in water. It is predicted that the corrosion inhibitors segment type will boost the overall market in the estimated period.
Energy &power segment is predicted to have the highest growth rate over the estimated period. This segment is predicted to generate a revenue of $7,164.3 million with a CAGR of 6.6% in the estimated period. The use of these products helps in saving energy through energy efficiency improvement which can cost less than generating, transmitting, and distributing energy from the power plant, providing multiple economic and environmental benefits. These factors are predicted to upsurge in the energy & power segment in the estimated period.
North America is predicted to have the highest growth rate over the estimated period. This region is predicted to generate a revenue of $8,456.3 million with a CAGR of 7.0% in the forecast period. The existence of large numberof major enterprises, increased discretionary income and better living standards is predicted to boost the North America region market in the estimated period. Asia-Pacific market is predicted to have the highest market share in the estimated period. The market in this region is predicted to grow due to the strict government regulation with the rise in the population.
The major key players in the specialty water treatment chemical market are BASF SE, Bayer AG, The Dow Chemical Co., Huntsman International LLC.,AkzoNobel N.V., Chemtura Corporation, Clariant AG, Rhodia S.A., Novozymes A/S and Evonik Industries AG among others.
Porter’s Five Forces Analysis for Specialty Water Treatment Chemical Market:
Bargaining Power of Suppliers: The switching cost from one supplier to another isprojected to be high.The bargaining power of suppliers is very High.
Bargaining Power of Consumers: In this market, the concentration of buyers is Low.
The bargaining power of consumers is Low.
The threat of New Entrants: Huge initial investments are essential to start a new Specialty Water Treatment Chemicals plant. The threat of new entrants is High.
The threat of Substitutes: This market has less number of alternativesavailable. The threat of substitutes is Low.
Competitive Rivalry in the Market: The Specialty Water Treatment Chemicals market has lesser number of companies. Many major players are following several strategies, and product differentiation among them.The competitive rivalry in the industry is Low.