Global water treatment chemical and technology market growing rapidly in developing economies
The major factor contributing to the growth of the water treatment chemical market are equipment replacements, technology up gradation and introduction of innovative products.
ALBANY, NY, Nov. 27, 2012 -- According to a new market report published by Transparency Market Research “Water Treatment Chemicals and Technology Market -- Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2011-2018,” the global water treatment chemicals and water technology market was worth USD 115,809.7 million in 2011 and is expected to reach USD 149,895.6 million in 2018, growing at a CAGR of 3.8% from 2013 to 2018. In the overall global market, North America is the largest market; however Asia Pacific is expected to be the most promising market in the near future.
The global water treatment chemicals and technology market is driven by various factors such as increasing population, stringent government policies, demand for clean or fresh water for various purposes and increasing industrialization. In developed economies, the major factor contributing to the growth of the water treatment chemical market are equipment replacements, technology up gradation and introduction of innovative products.
The global water treatment chemicals market with respect to products is mainly divided into three main categories namely pumping systems, chemicals and membrane systems. The market for membrane systems is expected to grow at a CAGR of 9.6% from 2013 to 2018. The overall demand of water treatment chemicals and technology has seen a quiet growth after the global financial crisis. Demand for chemicals started to decline after the financial crisis in 2008 and the trend continued through the beginning of 2010. However, the market is expected to get back on track by 2013.
The major geographic markets for water treatment chemicals and technology are the U.S. and Europe; however these markets are highly saturated with high entry barriers. In the overall global market, the most stringent norms are followed by the European region for wastewater treatment standards and drinking water quality. Asia Pacific is expected to grow at a CAGR of 5.1% from 2013 to 2018 witnessing the highest growth rate. Asia Pacific is expected to emerge as the new market leader by 2018. In the coming years, economies such as India, China and Thailand are estimated to be the most attractive markets.
Some of the major players in the global water treatment chemicals market include BASF, Akzo Nobel N.V, Kemira, Ashland Hercules, Dow Chemical, Nalco and GE Water & Process Technologies.
This research is specially designed to estimate and analyze the demand and performance of water treatment products in a global scenario. The research provides in-depth analysis of water treatment chemicals and technology manufacturers, product sales, and trend analysis by segments and demand by geography. The report covers all the major product segments of the global water treatment chemicals market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.