The process of removing any and all pollutants from water sources in order to make the water reusable involves a complex science. It is, however, necessary due to the various bacteria and contaminants that may be present in water, which are harmful to life when consumed or used otherwise. The success of any water treatment plant therefore depends on the use of potent and precise chemicals and technology, allowing them to release cleaner water which is ready to be reused.
The global water treatment chemicals and technology market is expected to reach US$149.89 bn by the end of 2018. This market was recorded at US$115.81 bn in 2012, and its growth has been subjected to multiple factors that are eventually responsible for its 3.8% CAGR from 2013 to 2018. While the growth rate seems average at best, it should be noted that the market is already witnessing high demand, as usable water is a depleting commodity.
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High Global Population is Demanding More Clean Water
The global population was recorded to be over 7 bn in 2013. Providing enough clean water for most of this population is currently not possible through natural means. The increasing demand for water also comes from all parts of the globe, but is especially high in areas with a higher population density. These pockets of dense population, therefore, are considered to be the greater consumers of clean water and are so regarded as one of the key reasons for the proliferation of the global water treatment chemicals and technology market.
The market is also in a state of constant development, where the introduction of improved technologies and chemicals is allowing a faster processing speed of polluted water as well as the overall quantity processed. Another factor promoting the growth of the global water treatment chemicals and technology market is the increasingly stringent set of rules and guidelines set up by governments regarding the release of contaminated water and its treatment. The market is, however, still hindered by the facts that treatment of water is an expensive affair and the funding and investments in this field are still relatively lower than optimum levels.
Asia Pacific Shows High Growth Rate in Water Treatment Capabilities
The global water treatment chemicals and technology market has largely been dominated by North America and Europe. These regions have conventionally played host to a large number of key players in this market and are therefore responsible for most of its growth so far. The future of the global water treatment chemicals and technology market, however, will largely be propelled by the developing economies of Asia Pacific. This region is showing a CAGR of 5.1% from 2013 to 2018. Experts are suggesting that this region could surpass the others to be the leading one for water treatment.
Some of the key players in the global water treatment chemicals and technology market are Dow Water & Process Solutions, BASF, Dresser, KITZ Corp., Emerson, Pentair, Tyco Int., ITT Corp., Kirloskar Ebara, KSB Co., Grundfos, and Akzo Nobel.