Stringent regulations concerning the emission and treatment of industrial wastes coupled with depleting freshwater resources are the factors that are driving the market.
The increase in population and the industrial activities are driving the demand for clean and fresh water.
The demand is also influenced by various factors such as water availability, its usage pattern, the presence of pollutants, government policies, and trade-offs among various chemical compounds.
Stringent regulations concerning the emission and treatment of industrial wastes coupled with depleting freshwater resources are the factors that are driving the market. However, shifting demand for alternative and environment-friendly water treatment technologies is affecting the market growth.
In addition, the growing industrialization and increasing demand for specific formulations are providing opportunities for the market players. However, chemical manufacturers are facing challenges because of the need for eco-friendly formulations.
Due to the COVID-19 pandemic, the economic growth of several countries had declined owing to the suspension of the manufacturing facilities, declining demand for oil and gas and industrial products, and disruption of supply chains.
The demand for industrial wastewater treatment chemicals decreased in several end-use industries in 2020. There is a rise in the prices of synthetic and bio-based chemicals due to short supply and restricted imports, which is expected to increase the cost of water treatment technologies and chemicals in the near future. The price hike will be passed on as the hike is steep.
Biocides and disinfectants is the largest segment by type for the Industrial wastewater treatment chemicals market.
Biocides are chemicals designed to eliminate all sizes and life stages of organisms present in the water. The effectiveness of biocides varies with the concentration of the chemical and duration of exposure.
Biocides are mainly used in drinking water treatment, sewage treatment, ship ballast treatment, and as antifouling agents. Biocides are manufactured in liquid and powder forms, in ready-to-use formulations or as concentrates, and are applied using a variety of techniques.
Growing population and increasing rate of urbanization mandate increased potable water requirement which is a major driver for the biocides & disinfectants segment.
Power generation sector is the largest segment by end-use industry for the Industrial wastewater treatment chemicals market. The power sector uses industrial wastewater treatment chemicals mainly for treating boiler feed water, boiler makeup water, and cooling water.
North America accounts for the largest share in the industrial wastewater treatment chemicals market for the power generation industry. Middle East and Africa is the fastest-growing market share in industrial wastewater treatment chemicals for the power generation industry. In future, increased investments by major utilities, new technological developments in the renewable sector, and improved government regulations are expected to boost power sector growth thereby increasing demand for industrial wastewater treatment chemicals.
North America accounted for the largest share of the Industrial wastewater treatment chemicals market in 2020, followed by Europe and APAC. North America has certain advantages over other regions such as cost-efficient processes for chemical water treatment, rising population, and increasing awareness among people for clean water. The major end users of industrial wastewater treatment chemicals in North America are power, pharmaceuticals, municipal, pulp and paper, food and beverage, oil and gas, and refineries sectors.
The U.S. dominates the industrial wastewater treatment chemicals market in North America in terms of value and volume. Oil, gas and power are some of the most vital end users in the U.S. and Canada.
Mexico is an emerging nation, and the scope of oil production and water treatment activities is high. Hence, the growth prospect for the industrial wastewater treatment chemicals market in Mexico is high.
The leading players in the Industrial wastewater treatment chemicals market are BASF SE (Germany), Ecolab Inc. (U.S.), Kemira Oyj (Finland), Suez SA (France), Veolia Group (France), Lonza Group Ltd. (Switzerland), Kurita Water Industries Ltd. (Japan), Thermax Limited (India), Baker Hughes Inc. (U.S.), Akzo Nobel N.V. (Netherlands), Dow Inc. (U.S.), and SNF Floerger (France). These companies have adopted various organic as well as inorganic growth strategies between 2018 and 2021 to strengthen their position in the market.
New product development, mergers and acquisitions, and expansion were among the key growth strategies adopted by these leading players to enhance their product offerings and regional presence while meeting the growing demand for the Industrial wastewater treatment chemicals in the emerging economies.
Tulsion resins for Ultra-pure water in Solar Cell Manufacturing
Objective: Ultra-pure water requirement for use in solar photovoltaic device washing. UPW is also required in semiconductor and pharmaceutical industries for proper and effective production of products.
Recommendation: Thermax offered ultra-pure water grade resin to meet the stringent standards for water purity in semiconductor and solar cell manufacturing. Thermax Tulsion grade resins were used to produce UPW. Thermax supplied this resin to a leading manufacturer of photovoltaic cells and the customer was satisfied with the performance.
To know more information about this Industrial Wastewater Treatment Chemicals Market Report, visit: https://www.marketsandmarkets.com/requestsampleNew.asp?id=57745160
Contact info: Mr. Aashish Mehra, MarketsandMarkets INC.
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