Rapid Urbanization to Boost the Water Treatment Chemicals Market | Technavio

LONDON–(BUSINESS WIRE)–#Chemicals—Technavio
research analysts have forecasted the global
water treatment chemicals market to grow at a CAGR of
approximately 7% during the period 2018-2022, in their latest
report.

The technological advances in water purification are a major trend being
witnessed in the market. Some of the major technological advances in
water purification include nanotechnology, acoustics nanotube
technology, graphene-based hybrid membranes, ozonetech ozone/BAC
systems, and trojan UV-oxidation systems. Nanotechnology is a
complicated but less harmful method. In comparison with conventional
systems, nano filters are more efficient and require less pressure to
pass water across the filter. Cleaning these filters is easier when
compared with the traditional systems.

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In this report, Technavio analysts highlight the rapid urbanization and
rise in population as a key factor contributing to the growth of the
global water
treatment chemicals market:

Rapid urbanization and rise in population

Urbanization in developing countries such as India, China, Brazil,
Malaysia, and Mexico has been increasing at a faster pace and paving the
way for new industries to grow and technologies to be introduced in
these nations. Africa is the fastest growing region with a growth rate
of 2.52% annually. Of the entire global population, around 54% live in
urban areas. This number is expected to increase during the forecast
period. Despite having lower levels of urbanization, Asia is home to 53%
of the worldÔÇÖs urban population.

According to a senior analyst at Technavio for specialty
chemicals, ÔÇ£There is a critical need to fulfill the demand
for water in the household and industrial applications due to the
increased demand for products and services. Water has emerged as an
important source to meet the requirements of industries. Not all
organizations are well-equipped with the recycling of used water. Thus,
there is a rising need for better water treatment technologies in
countries.ÔÇØ

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Water treatment chemicals – market segmentation

This market research report segments the global water
treatment chemicals market into the following applications
(municipality water treatment, power generation, pulp and paper, metal
and mining, and oil and gas) and key regions (the Americas, APAC, and
EMEA). It provides an exhaustive analysis of the prominent factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

Of the five major applications, the municipality water treatment segment
held the largest market share in 2017, contributing to more than 38% of
the market. The market share occupied by this segment is expected to
increase by around 3% during the forecast period.

APAC dominated the global water treatment chemicals market in 2017,
accounting for a market share of nearly 40%. This region is expected to
demonstrate significant growth and the market share occupied by this
region is anticipated to increase by almost 3%.

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