Water Treatment Chemicals and Technology Market Revenue Will Reach $202.8 Billion By 2024, Says Esticast Research and Consulting
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As Per the report “Water Treatment Chemicals and Technology Market By product type (Pumping system, Chemicals (Coagulants and Flocculants, Activated carbon, Biocides, Others), Membrane system (Reverse Osmosis, Ultrafiltration, Microfiltration), Other), Industry trends, Estimation & Forecast, 2016 – 2024“, the global water treatment chemicals and technology market was valued at $147 billion in 2016, and is projected to reach $202.8 billion by 2024, growing at a CAGR of 4.2% from 2017 to 2024.
In 2016, the pumping system segment generated the highest revenue share in the global water treatment chemicals and technology market. Among major regions, Asia-Pacific water treatment chemicals and technology market was the highest revenue generating market valued at $55.2 billion in 2016.
“Health concerns that have come in front due to the presence of various inorganic and organic materials in water sources have increased the need to improve water quality. The growth of the water treatment market is largely fueled by the increased demand for the pure water and high usage of water treatment chemicals in various other applications worldwide.”
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The pumping system market generated a revenue of nearly $105.5 billion in 2016 and is expected to dominate the market for the entire forecast period because the focus on energy-efficiency offers a considerable potential for growth. Moreover, environmental compliance with increasingly stringent regulations has a significant impact on the market. However, the membrane system market is expected to grow at the highest CAGR of 9.1% during the forecast period because of increasing use of microfiltration and ultra-filtration membranes in industrial wastewater treatment plants.
Valves and Controls segment generated a revenue of $60 billion in 2016
Valves are high-tech equipment that moves the water through the numerous treatment processes. Different valves serve different functions and are specified for installation depending upon the volume, environment and purity requirements for the water. The market segment held nearly 57% of the global market share in 2016 and is expected to grow at a CAGR 3.1% during the forecast period. Environmental Legislations play a key role in determining the market’s performance and future growth.
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Asia-Pacific led the market by generating a revenue of more than $55 billion in 2016
The market in Asia-Pacific is currently witnessing a positive trend that is being driven by increasing investments in water treatment. In addition, the development in the chemicals and oil and gas industries are expected to provide potential revenue growth for this market over the coming years. The APAC water treatment chemicals and technology market held a revenue share of nearly 38% in 2016.
European water treatment market follows the APAC market in terms of revenue generation as a result of stringent rules regarding improving standards and significant investments in the water and wastewater sector.
Water Treatment Chemicals and Technology Market Key Findings
• The global water treatment chemicals and technology market was valued at $147 billion in 2016, and is projected to reach $202.8 billion by 2024
• The pumping system market generated a revenue of nearly $105.5 billion in 2016
• Vales and Controls segment held nearly 57% of the global market share in 2016 and is expected to grow with a CAGR 3.1% during the forecast period
• Asia-Pacific region lead the market by generating a revenue of more than $55 billion in 2016
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AkzoNobel, a leading market player of the water treatment technology and chemicals market recently introduces its latest hybrid polymer which is sustainable, effective, and economical scale inhibitor for water treatment. Some other major companies of the market are, AkzoNobel N.V., Ashland Hercules, Kemira, Nalco, Ge Technology, Flowserve, Grundfos , Ebara and Pentair.