Industrial Waste Water Treatment Chemicals (IWTC) Market size is forecast to reach $8.5 billion by 2025, after growing at a CAGR of 4.58% during 2020-2025. With rise in the growing consumption for industrial waste water treatment chemicals is increasing due to increase in population, rapid urbanization and fresh water shortage, due to this the Industrial Waste Water Treatment Chemicals (IWTC) market is expected to grow in the forecast period. Growing governments implementation towards industrial waste water treatment will further enhance the overall market demand for Industrial Waste Water Treatment Chemicals (IWTC) during the forecast period.
Type of Chemicals - Segment Analysis
Organic Polymers segment holds the largest share in the Industrial Waste Water Treatment Chemicals (IWTC) market. Organic polymers consist of polyacrylamide, polyaluminium chloride among others. Organic polymers are used to purify low quality water either for drinking or industrial purposes. These are used in industrial waste water treatment process to inhibit the growth of harmful organisms and also to kill the existing ones. The efficiency of the industrial waste water treatment chemicals depends on dosage rate and duration of the additive’s presence in water. Industrial waste water treatment facilities are growing at a faster pace due to excess generation of wastewater from industrial sector. The soda ash industry is a part of the chemical industry, which is responsible for the production of sodium carbonate, calcium chloride, absorbent masses, evaporated wet salt, food salt, pickling salt or salt tablets. During manufacturing of those products, strongly alkaline wastewater is generated. Owing to this the Industrial Waste Water Treatment Chemicals (IWTC) market is growing.
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Geography - Segment Analysis
APAC has dominated the Industrial Waste Water Treatment Chemicals (IWTC)market with a share of more than xx%, owing to high demand from the end-user industries, such as power, steel, and food & beverage. Countries such as India, China, Japan are the epicentre for the Industrial Waste Water Treatment Chemicals (IWTC)market, as these countries consist of large number of industries. The wastewaters from large-scale industries such as oil refineries, petrochemical plants, chemical plants, and natural gas processing plants commonly contain gross amounts of oil and suspended solids. Those industries use a device known as an API oil-water separator which is designed to separate the oil and suspended solids from their wastewater effluents.
Drivers – Industrial Waste Water Treatment Chemicals (IWTC) Market
Implementation of Stringent Government regulations
Implementation of Stringent Governments’ regulations and efforts to reuse water and wastewater treatment in industries, will further aid the market growth of Industrial Waste Water Treatment Chemicals (IWTC)market. The removal of impurities from wastewater, or sewage, before they reach aquifers or natural bodies of water such as rivers, lakes, estuaries, and oceans. Since pure water is not found in nature (i.e., outside chemical laboratories), any distinction between clean water and polluted water depends on the type and concentration of impurities found in the water as well as on its intended use.
Increasing demand for clean water
As demand for water increases across the globe, the availability of fresh water in many regions is likely to decrease because of climate change, as warns by latest edition of the United Nations’ World Water Development Report (WWDR4). It predicts that these pressures will exacerbate economic disparities between certain countries, as well as between sectors or regions within countries. So, the demand for fresh and clean water are increasing due to which the Industrial waste water treatment chemicals market will grow.
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Challenges – Industrial Waste Water Treatment Chemicals (IWTC) Market
Costly setting up of Equipment
In manufacturing, setup cost is the cost incurred to get equipment ready to process a different batch of goods. Hence, setup cost is regarded as a batch-level cost in activity-based costing. Setup cost is considered to be a non-value-added cost that should be minimized. One notable hurdle of cooling water treatment chemicals market is that, it is considerably costly to set up. So, small industries are financially not that much strong to setup these equipments. So, they look to escape the installing of these equipments. Whereas Antifoams are chemical agents designed to control the wasteful formation of foam during industrial processes.
Impact of COVID-19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing equipments regarding the IWTC. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including manufacturing sector have slower down the demand of goods’ production and exports of effect pigments market.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial Waste Water Treatment Chemicals (IWTC) market. In 2019, the market of Industrial Waste Water Treatment Chemicals (IWTC) has been consolidated by the top five players accounting for xx% of the share. Major players in the Industrial Waste Water Treatment Chemicals (IWTC) Market are Akzo Nobel N.V., Angus Chemical Company, BASF SE, BWA Water Additives UK Ltd., Kemira OYJ, The Lubrizol Corporation, Tiarco Chemical, Shandong Taihe Water Treatment Co., Ltd, Kurita Water Industries Ltd, among others.
Acquisitions/Technology Launches
In April 2020, AkzoNobel has completed the acquisition of 100% of the shares of Mauvilac Industries Limited, a leading paints and coatings company in Mauritius.
Key Takeaways
Asia-Pacific dominates the Industrial Waste Water Treatment Chemicals (IWTC) market owing to larger water demand due to larger population.
Increasing water pollution and scarcity of water are major factors driving the waste water treatment services market.
Due to the covid 19 pandemic, the residential usage of water has increased due to which the Industrial waste water treatment chemicals market is growing.
One notable challenge for Industrial waste water treatment chemicals is that, it is considerably costly to set up.
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