As per the report, the water treatment technology market was accounted for $168.0 billion in 2020, and is expected to reach $265.9 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Major determinants of the market growth
Rise in population and industrialization and lack of freshwater resources and water scarcity problems have boosted the growth of the global water treatment technology market. However, high cost of water treatment technology hinders the market growth. On the contrary, technology advancements and surge in R&D activities would open new opportunities in the future.
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The corrosion & scale inhibitors segment dominated the market
By chemicals, the corrosion & scale inhibitors segment held the largest share in 2020, accounting for around one-fourth of the global water treatment technology market, owing to rapid industrialization to prevent scale formation. However, the coagulants & flocculants segment is estimated to register the highest CAGR of 5.3% during the forecast period, as coagulants & flocculants are cost-effective chemicals with high efficiency over wide range of pH and raw water temperatures.
The food service segment to portray the highest CAGR through 2030
By membrane system, the ultrafiltration segment is projected to manifest the highest CAGR of 5.3% from 2021 to 2030, due to scarcity of pure water and use of ultrafiltration in brackish water purification. However, the reverse osmosis segment held the largest share in 2020, accounting for more than two-fifths of the global water treatment technology market, due to less maintenance, less space requirement, high system efficiency, and easy installation.
North America held the lion’s share
By region, the market across North America dominated in 2020, accounting for nearly one-third of the market, owing to scarcity of fresh and potable water, rapid urbanization, and strict government regulations for discourage of wastewater. However, the global water treatment technology market across Asia-Pacific is anticipated to showcase the highest CAGR of 5.4% during the forecast period, owing to rise in scarcity of freshwater sources and increase in demand for clean and potable water.
Major Market Players
- AECOM
- Ashland Global Holdings Inc.
- BASF SE
- Aquatech International LLC
- DOW
- BioMicrobics, Inc.
- PepsiCo
- DuPont
- The Coca-Cola Company
- The 3M Company
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