Industrial Water Treatment Chemical Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
The global industrial water treatment chemicals market size is expected to reach USD 18.3 billion by 2025 at a 4.2% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for water desalination systems owing to scarcity of fresh water is a key factor driving industry growth. In desalination plants, excess salts and other minerals are removed from water through membrane-based or thermal-based technologies, there by rendering it fit for industrial consumption. Reverse osmosis (RO) and distillation are methods used for seawater desalination, while electrodialysis and RO are used to desalt brackish water. The industrial water treatment chemical industry is anticipated to benefit from high number of regulations established by regulatory authorities across Europe and North America. As consumers are highly price-sensitive regarding installation cost of wastewater treatment plants, companies are involved in offering discounts and price reductions in a bid to attract more consumers. Furthermore, development of advanced technology products and solutions by major companies in the market is expected to boost market growth over the forecast period. Rising investments in R&D of new products in the region is also expected to drive the market over the next few years.