WELLESLEY, MA--(Marketwired - September 28, 2016) - Water quality problems and shortages of drinking water affect more than one-third of the world's population. Health concerns over the increasing lack of available clean water throughout the world is driving growth in the specialty chemicals market for water treatment. BCC Research reveals in its new report that market growth in developing countries should signfificantly outpace the average global rate.
In the water treatment industry, specialty chemicals include chemicals that are manufactured based on their performance or function. They can be single-chemical entities or formulations whose composition influences the performance and processing of the end product, which in the water treatment industry is safe water for drinking and water for industrial use.
The global specialty chemicals market for water treatment should reach $28.5 billion and $38.2 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 6.1%. Corrosion and scale inhibitors as a segment should total $9.2 billion and $12.5 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 6.3%. Activated carbon and other chemicals as a segment should reach $7.6 billion by 2021, up from a projected $5.6 billion in 2016, demonstrating a five-year CAGR of 6.3%.
The Asia-Pacific region should retain its position as the largest market during the forecast period. Its current market share totals almost 30%, followed by the European region at 27.8% and the North American region at 25.8%.
Developed countries should experience increased demand due to stricter regulations and the consequent increase in the usage of specialty chemicals for water treatment. In these established markets, gains are also likely to be due to the continuing introduction of more sophisticated water treatment technologies, including the increased use of higher-end membranes in desalination and other applications, specialty chemicals in industrial water treatment, and easier-to-use products for recreational water treatment.
Growth is expected to be strongest in parts of the developing world. Countries such as China and India are rapidly developing their industrial and municipal water treatment networks because their water treatment markets have not matured. Also, in other developing countries such as those in Africa, South America and parts of Asia, the problem of quality and quantity of clean drinking water remains significant. The construction of more and improved drinking water facilitates should foster steady growth of water treatment equipment and chemical usage.
"On the industrial front, growth in the developing countries will again be higher than in the developed world because multinational companies are moving manufacturing to these countries and bringing advanced waste disposal techniques in the process," says BCC Research analyst Srinivasa Rajaram. "Therefore, the market for water treatment equipment and chemicals should have big growth opportunity in these developing countries."
Specialty Water Treatment Chemicals: Technologies and Global Markets (CHM013H) analyzes the product and technology life cycles of various specialty chemicals, their applications and markets from global and regional perspectives. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. Founded in 1971, BCC Research is a unit of Eli Global, LLC. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.