Global Water Treatment Chemicals Market Is Estimated To Witness High Growth
The global water treatment chemicals market is estimated to be valued at US$ 38.0 billion in 2022 and is expected to exhibit a CAGR of 6.67% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Water treatment chemicals are used to remove impurities and contaminants from water, making it safe for various applications. These chemicals find widespread applications in municipal water treatment, industrial water treatment, and oil & gas sectors. Coagulants, flocculants, corrosion inhibitors, pH adjusters, biocides, and disinfectants are some of the commonly used water treatment chemicals. With the increasing global population and industrialization, the demand for clean water is on the rise, driving the growth of the water treatment chemicals market. Additionally, stringent government regulations regarding water pollution and the need for sustainable water management practices are further fueling market growth.
Key Takeaways:
The global water treatment chemicals market is expected to witness high growth, exhibiting a CAGR of 6.67% over the forecast period (2023-2030), due to the increasing demand for clean water in various industries, stringent regulations for water treatment, and technological advancements in the sector.
Regionally, Asia Pacific is the fastest growing and dominating region in the water treatment chemicals market. This can be attributed to the increasing industrial activities, rapid urbanization, and population growth, leading to a high demand for clean water in countries like China and India.
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