The global water treatment chemicals and technology market is highly fragmented with the top six companies accounting for 26.2% of the market in 2011. These players are Flowserve, Grundfos, Ebara, KSB, ITT, and Pentair. Product innovation is the key factor which is helping in giving players the competitive edge they require. Mergers and acquisitions are frequent in the market, states a new report by Transparency Market Research (TMR). Suppliers’ bargaining power is expected to remain medium owing to moderate costs of switching suppliers and also because manufacturers are opting for long-term supply partnerships with customers. Companies are involved in both forward and backward integration in order to reduce costs and remain competitive in the market. The buyer power is expected to remain high as fragmented nature of the market gives more alternatives to buyers.
According to the report, the global water treatment chemicals and technology market is expected to rise from US$133.72 bn in 2015 to US$149.89 bn by 2018. By product, the pumping systems segment is expected to emerge as a clear winner, accounting for 70.3% of the market in 2018. On the basis of geography, North America is expected to account for 30.1% in 2018. By chemicals, the corrosion and scale inhibitors segment is expected to lead in the market in the coming years. The segment is expected to be worth US$7.43 bn by 2018.
Increasing Demand for Fresh Water Being Reported from Developed Markets
Developed economies need to follow rules as per environmental regulations, which is benefitting the growth of the water treatment chemicals and technology market. These environmental norms are becoming stringent, enforcing municipal corporations and industries to explore water treatment solutions and technologies. Moreover, equipment replacements and technology up gradation will help the market to grow at a significant pace.
The demand for clean and fresh water by industrial and agricultural sectors is increasing. Additionally, the growing population across the world is creating a need for recycle or reuse of water resources, which is driving the water treatment chemicals and technology market. High discharge of industrial and domestic contaminants has further increased the need for water treatment. In addition to this, health concerns due to presence of various inorganic and organic materials in water sources have fueled the need to improve water quality, thus driving the global water treatment chemicals and technology market.
Inadequate Funding for Water Treatment Chemicals and Technology to Hurt Growth
Water treatment chemicals and technology are very expensive and require funding from the private sector as well as the government. While the private firms hesitate in investing in the water sector, public sectors are unable to raise enough funds needed to cope with the requirement of the water treatment chemicals and technology. Government and the private sectors need to cooperate and work more closely to reduce the impact of this restraint.
Increasing Depletion of the Fresh Water Reserves to Bode Well for Market
Fresh water is a finite resource and most of the rivers are running dry owing to global warming. The increasing privatization of water and water pollution is creating a heightened demand for fresh water. Therefore, to meet the increasing demand of fresh water there is shift in trends to adopt new method to generate fresh or clean water for human consumption. This shifting trend will provide massive opportunities for advance technologies, equipment and chemicals, boosting the growth of the market. Additionally, nuclear and solar power plants, require large amount of water for manufacturing, maintenance and cooling, which is causing environmental regulations to become more stringent. Thus, companies need smart solutions that meet specific water quality requirements. This will create opportunities of growth in the market.
This information is based on the findings of a report published by Transparency Market Research titled “Water Treatment Chemicals and Technology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2011 - 2018.”
The global water treatment chemicals and technology market is segmented as follows:
- Valves & Controls
- Automation Systems
- Coagulants and flocculants
- Anti-foamants and defoamers
- Corrosion and scale inhibitors
- Activated carbon
- Reverse Osmosis
- Gas Separation & Others
- North America
- Asia Pacific
- Rest of the World
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