Demand for Water Treatment Chemicals to Reach $30.6B in 2017
World demand for water treatment chemicals is expected to rise 5.8 percent per year to $30.6 billion in 2017. Demand will be driven by rising water quality standards in manufacturing and other industrial applications, expanding access to safe drinking water in underserved regions, and a shift toward higher value chemicals with improved performance and/or environmental profiles, particularly in developed countries, according to a report by The Freedonia Group.
Freedonia says increases in developed countries are expected to be tempered by greater competition between water treatment chemicals and equipment in some applications, reflecting a more complex industry response to environmental concerns.
READ ALSO: Study Shows Demand for Water Treatment Chemicals Is On the Rise
In countries in developing regions, rising standards for industrial water quality and the adoption of more complex manufacturing processes, along with healthy economic expansion, will drive strong growth in demand for water treatment chemicals, the report says.
In many developing countries, the use of water treatment chemicals has historically been low relative to use rates seen in manufacturing and industrial markets in more affluent areas, and rising water treatment chemical use rates will be reflective of greater reliance on both commodity-type chemicals and specialty chemicals.
The increased use of water treatment chemicals in these regions will be supported by manufacturers’ efforts to remain competitive by improving the quality of finished products, which can be directly impacted by water quality, the report says.
WORLD WATER TREATMENT CHEMICAL DEMAND (million dollars)
|
|||||
% Annual Growth |
|||||
Item |
2007 |
2012 |
2017 |
2007- 2012 |
2012- 2017 |
|
|
|
|
|
|
Water Treatment Chemical Demand |
18295 |
23120 |
30600 |
4.8 |
5.8 |
North America |
6060 |
6655 |
7860 |
1.9 |
3.4 |
Western Europe |
4435 |
5090 |
6090 |
2.8 |
3.7 |
Asia/Pacific |
4480 |
6845 |
10350 |
8.8 |
8.6 |
Central & South America |
1350 |
1780 |
2410 |
5.7 |
6.2 |
Eastern Europe |
1235 |
1630 |
2195 |
5.7 |
6.1 |
Africa/Mideast |
735 |
1120 |
1695 |
8.8 |
8.6 |
|
|
|
|
|
|
© 2014 by The Freedonia Group, Inc.