The global water chemicals treatment market is expected to reach a value of nearly $25 billion by the end of the decade, according to an article from Water Technology citing a new report from Research and Markets. The projected growth is attributed to increasing demand from industries including municipal water treatment, oil and gas, power generation, metals and mining and chemical processing.
The oil and gas industry is the fastest-growing application in the global water treatment chemicals market, according to the article, using coagulants and flocculants (expected to realize the highest growth rate in the next several years), corrosion inhibitors, scale inhibitors, chelating agents and anti-foaming agents to remove contaminants and improve water quality. The Asia-Pacific region should reportedly see the fastest growth due to a number of factors cited including a growing automotive industry, rising population and increasing oil and gas exploration and production.
Read the entire article here.