Specialty Water Treatment Chemicals Worth $27.9 Billion In 2013
Wed, 12/03/2008 - 6:37am
The global market for specialty chemicals for water treatment technology is expected to be worth $21.0 billion in 2008, according to a new technical market research report from BCC Research; the report is entitled “Specialty Chemicals For Water Treatment: The Global Market.” The research also indicates that the water treatment specialty chemical market will increase to $27.9 billion in 2013–at a compound annual growth rate (CAGR) of 5.8 percent. According to BCC, the market is broken down by type of chemical and includes: • Corrosion inhibitors, which have the largest share of the market, worth an estimated $4.6 billion in 2008. This segment should reach $6.1 billion in 2013 for a CAGR of 5.8 percent. • Coagulants and flocculants with the second largest market share, generating an estimated $4.1 billion in 2008, only to increase to $5.4 billion in 2013 for a CAGR of 5.7 percent. • Biocides, which represent the third largest market segment, estimated to be worth $3.9 billion in 2008 and $5.2 billion in 2013 for a CAGR of 5.9 percent. • Scale inhibitors. • pH adjustors. • Softeners. • Fluorochemicals. • Activated carbon. • Defoaming agents. • And more. With growing concern for global water supply, chemical suppliers are increasingly interested in the water treatment market. Growth is expected to be strongest in the developing world with countries, such as China and India, registering growth that will more than double the global average. The study predicts that, in developed countries, growth will be fueled by stricter regulations and the continuing introduction of more sophisticated water treatment technologies. The United States is currently the single largest market for specialty chemicals for water treatment and will remain the largest market through 2013. Its current market share is 42 percent, followed by Asia at 38 percent and Europe at 16 percent, according to BCC’s findings. “Specialty Chemicals For Water Treatment: The Global Market” further concludes that, in terms of end users, the power industry is the single largest user of water treatment specialty chemicals with 30 percent of the market, which is followed by municipalities.