Market Trends of North America Water Treatment Chemicals Industry
This section covers the major market trends shaping the North America Water Treatment Chemicals Market according to our research experts:
Municipal Segment to Dominate the Market Demand
- Municipal is the fastest growing segment mainly due to the government focusing on developing municipal wastewater treatment plants (mostly in the urban areas), which is likely to augment the use of water treatment chemicals over the forecast period.
- The United States Environmental Protection Agency (USEPA) emphasizes on the improvement of water and sewage services, especially in the municipal wastewater treatment area, and plans to invest an estimated capital investment of about USD 600 billion toward its improvement over the coming two decades.
- The USEPA has also been focusing on supplying clean drinking water and runs a fund called 'Clean Water State Revolving Fund', by which it finances the environmental compliances. Such initiatives, in turn, increase the usage of water treatment chemicals.
- Thus, the use of water treatment chemicals is increasing, owing to a greater demand for purifying drinking water in the country.
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The United States to Dominate the Market
- The United States currently accounts to the highest share of the North America water treatment chemicals market. The United States is one of the highest consumers of water in the world. Approximately 80% of the water and wastewater treatment industry is owned and managed publicly in the country.
- A resurgence in the manufacturing sector in the country is creating a demand for industrial water treatment, given the increasing need for water conservation and stringent environmental regulations. This, in turn, has increased the need for water treatment operations, thereby driving the market for water treatment chemicals.
- According to the US Geological Survey, electric power generators are the largest source of the US water withdrawals and account for around 40% of total water withdrawals in the United States. The wastewater released from the electricity generation process contains significant levels of toxic metal impurities, such as lead, mercury, arsenic, chromium, and cadmium, among others. The power generation in the country is expected to grow significantly and is estimated to reach 106.55 quadrillion British thermal units by 2050. This growth is expected to drive the demand for water treatment chemicals in the country.
- Hence, owing to the above-mentioned factors, the United States is likely to dominate the North America water treatment chemicals market.
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