Around 1.5 million people die of diarrhea each year, and almost 58% of these deaths are attributed to unsafe water supply, says the World Health Organization (WHO). With several initiatives being taken by the organization to raise awareness on safe drinking water, the global water treatment chemicals market, which valued $48,938.1 million in 2019, will cross $85,341.8 million by 2030, at a CAGR of 5.2% between 2020 and 2030.
Despite the shut down of manufacturing plants, the water treatment chemicals market has been somewhat positively impacted by the COVID-19 pandemic. Adequate water intake is said to be a good way to remove toxins from the body, which is why the demand for potable water has risen substantially during this period. Additionally, as per the WHO, washing the hands frequently with soap is one of the best ways to protect oneself from the virus, which is another reason for the high demand for such chemicals at water treatment plants.
The raw water treatment division, based on application, is predicted to observe the highest value CAGR, of 5.8%, in the water treatment chemicals market, in the coming years. Around the world, the necessity of treating groundwater, rainwater, and water from infiltration wells, rivers, seas, and lakes is increasing. Further, the booming population in Africa, Brazil, China, and India is raising the demand for potable water.
In the past, the municipal water treatment classification dominated the water treatment chemicals market, under segmentation by end user. Apart from the burgeoning population, the norms related to the purity standards to be met by municipal water agencies are rather strict in developed countries. These are two of the prime reasons behind the perpetually increasing consumption of water treatment chemicals by municipal bodies.
Mergers and Acquisitions Define Market Competitive Landscape
In order to strengthen their position in the water treatment chemicals market, companies offering such products are merging with or acquiring other associated firms, so that they can:
• Widen their customer base
• Be better placed in the market of different countries
• Augment their water treatment chemical production output
• Create a stronger unified company or business unit
• Expand their manufacturing base
The most important players in the water treatment chemicals market are Ecolab Inc., BASF SE, SUEZ, Kemira Oyj, SNF s.a.s., Solenis LLC, Solvay S.A., Akzo Nobel N.V., The Dow Chemical Company, and Buckman Laboratories International Inc.
Source: https://www.psmarketresearch.com
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