The global market for specialty chemicals used in water treatment will reach $33.6 billion in 2019, BCC Research reports in a new study.
Emerging markets with expanding populations are driving increased demand for water-treatment chemicals, according to BCC Research. The market for these specialty chemicals is growing at a compound rate of 5.9 percent annually.
Corrosion inhibitors is the fastest-growing segment overall, with a projected compound annual growth rate of 6.1 percent. Corrosion and scale inhibitors reduce the deteriorating effects of demineralization, precipitation, and de-aeration.
The Asia-Pacific region is the largest market for this industry, with a market share of nearly 30 percent. Gains in this region will be driven by the introduction of more sophisticated water treatment technologies, including wider utilization of specialty chemicals in industrial water treatment.
"Although, the water-treatment chemicals industry is considered to be a mature market, it is also one that needs to adapt and expand and is likely to increase in importance as the availability of clean water decreases," says BCC Research chemicals analyst Srinivasa Rajaram. "When one considers the rapidly expanding populations in Africa, South America, and Asia, as well as pollutants, knowledge of potential remedies for contaminated water sources becomes all important."
For more information, visit www.bccresearch.com.
