By 2032, it’s projected that the wastewater treatment chemical industry revenue share in China will surpass $1.7 billion due to a strong presence of several prominent manufacturers.
WD News: The demand for wastewater treatment chemicals is majorly concentrated in municipal and industrial end-use due to the several uses of wastewater treatment chemicals in petrochemical, oil & gas, mining & metals, food & beverage, pharmaceuticals, semiconductors, thermoelectric power plants, and other industries for treatment of water for various purposes including manufacturing operations, cooling & heating systems, consumption, and many more.
As per a new market report by Future Market Insights, the Global Wastewater Treatment Chemicals Market is currently valued at US$ 32.4 Billion and is anticipated to expand at a CAGR of 3.6% to reach US$ 46.15 Billion by 2032-end. Rising focus on wastewater treatment to limit environmental degradation to drive market growth.
Stringent rules imposed by the government on industries for the treatment of water and rising demand for a continuous supply of fresh and treated water due to population growth are anticipated to drive the demand for wastewater treatment chemicals.
Companies operating in the market have been focusing on innovations. There is an immense focus on offering more efficient solutions depending upon evolving needs of end users. The global wastewater treatment chemicals market is considered fairly fragmented due to the presence of a numerous players. Besides this, collaborations have been a key strategy among market players as they aim at expanding regional footprint as well as their product portfolio.
Source: Future Market Insights Global and Consulting
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