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LONDON, GREATER LONDON, UNITED KINGDOM, November 28, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
How Is The Industrial Water Treatment Chemicals Market Size Expected To Change?
The industrial water treatment chemicals market size has grown robustly in recent times. The market is poised to escalate from $29.53 billion in 2023 to $31.94 billion in 2024 at a compound annual growth rate CAGR of 8.2%. This significant growth during the historic period has been spurred by an augmented emphasis on water pollution control, rapid industrial expansion, a growing need for water reuse, and an increase in scaling and corrosion control.
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What Are The Growth Projections For The Industrial Water Treatment Chemicals Market?
The industrial water treatment chemicals market size is forecasted to experience the vigorous growth in the upcoming years. The market is predicted to achieve $39.48 billion by 2028 at a compound annual growth rate CAGR of 5.4%. This expected growth during the forecast period is attributed to an escalating demand for recycling and reuse of water, increasing regulatory changes, expanding oil and gas industry, surging demand from the healthcare and pharmaceutical sectors, and high demand in water desalination efforts.
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Which Factors Are Driving The Growth Of The Industrial Water Treatment Chemicals Market?
Industrialization and an expanding automotive sector are key drivers expected to spur the growth of the industrial water treatment chemicals market. Industrialization is growing at a rapid pace in emerging economies such as China and India, thereby significantly contributing to the market growth. The surge in manufacturing, especially in the automotive sector, is another important growth catalyst for the market.
Who Are The Major Players In The Industrial Water Treatment Chemicals Market?
Key industry players in the industrial water treatment chemicals market include BWA Water Additives UK Ltd., Dow Chemical Company, Ecolab Inc., Ashland Water Technologies, Kemira Oyj, Solenis LLC, Suez S.A, BASF SE, DuPont de Nemours Inc., and many others.
Which Emerging Trends Are Shaping The Industrial Water Treatment Chemicals Market?
Technology advancements are a key trend gaining traction in the industrial water treatment chemicals market. These include new technologies for wastewater treatment such as The Advanced Oxidation Technology or TADOX that reduces load on tertiary and biological treatment systems, aiding in achieving Zero Liquid Discharge ZLD.
How Is The Industrial Water Treatment Chemicals Market Segmented?
The industrial water treatment chemicals market is segmented as follows:
1 By Product: Antifoams, Oxygen Scavengers, Corrosion Inhibitors, Biocides and Disinfectants, Oxidants, PH Conditioners, Sludge Conditioners, Scale Inhibitors, Other Products
2 By Application: Raw Water Treatment, Cooling and Boilers, Effluent Water Treatment and Water Desalination
3 By End User: Oil and Gas, Power, Metal and Mining, Chemical, Other End Users
What Is The Regional Analysis of The Industrial Water Treatment Chemicals Market?
Asia-Pacific was the largest region in the industrial water treatment chemicals market in 2023. Asia-Pacific is projected to be the fastest-growing region in the forecast period. The regions analyzed in the industrial water treatment chemicals market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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