Rise in population and industrialization and lack of freshwater resources and water scarcity problems have boosted the growth of the global water treatment technology market.
PORTLAND, Ore, April 12, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Water Treatment Technology Market by Chemicals (Coagulants And Flocculants, Antifoams And Defoamers, Corrosion And Scale Inhibitors, Activated Carbon, Biocides, Others), by Membrane System (Reverse Osmosis, Ultrafiltration, Microfiltration, Electrodialysis, Gas Separation, Others), by End-Use Industry (Municipal, Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030” As per the report, the water treatment technology industry was accounted for $168.0 billion in 2020, and is expected to reach $265.9 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Major determinants of the market growth
Rise in population and industrialization and lack of freshwater resources and water scarcity problems have boosted the growth of the global water treatment technology market. However, high cost of water treatment technology hinders the market growth. On the contrary, technology advancements and surge in R&D activities would open new opportunities in the future.
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- The Covid-19 pandemic negatively affected the demand for water treatment technology due to its dependence of chemical, pulp and paper, petrochemicals, and municipal water & wastewater facilities.
- During the pandemic, chemical manufacturing companies shut down or hated their operations to curb the risk of infections where water treatment technology-based equipment are used.
- The falling income of customers and restriction on travel disrupted the supply chain.
- However, the demand for water treatment technology would increase as the agriculture and food processing companies get back on track.
The corrosion & scale inhibitors segment dominated the market
By chemicals, the corrosion & scale inhibitors segment held the largest share in 2020, accounting for around one-fourth of the global water treatment technology market, owing to rapid industrialization to prevent scale formation. However, the coagulants & flocculants segment is estimated to register the highest CAGR of 5.3% during the forecast period, as coagulants & flocculants are cost-effective chemicals with high efficiency over wide range of pH and raw water temperatures.
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The food service segment to portray the highest CAGR through 2030
By membrane system, the ultrafiltration segment is projected to manifest the highest CAGR of 5.3% from 2021 to 2030, due to scarcity of pure water and use of ultrafiltration in brackish water purification. However, the reverse osmosis segment held the largest share in 2020, accounting for more than two-fifths of the global water treatment technology market, due to less maintenance, less space requirement, high system efficiency, and easy installation.
North America held the lion’s share
By region, the market across North America dominated in 2020, accounting for nearly one-third of the market, owing to scarcity of fresh and potable water, rapid urbanization, and strict government regulations for discourage of wastewater. However, the global water treatment technology market across Asia-Pacific is anticipated to showcase the highest CAGR of 5.4% during the forecast period, owing to rise in scarcity of freshwater sources and increase in demand for clean and potable water.
Major Market Players
- Ashland Global Holdings Inc.
- BASF SE
- Aquatech International LLC
- BioMicrobics, Inc.
- The Coca-Cola Company
- The 3M Company
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