Stringent regulation pertaining to treatment and emission of industrial waste, increase in urbanization and industrialization, and growing awareness towards wastewater are expected to drive the growth of the chemical and wastewater treatment market.The global chemical and wastewater treatment market was valued at USD 38.7 billion in 2018 and is expected to reach USD 59.2 billion in 2026, growing at a CAGR of 5.6% during the forecast period.
According to WHO, wastewater contains 99.9% of water by weight and 0.1% remains suspended or dissolved the material. The dissolved or suspended material consists of detergents, oils, plastics, sands, food leftovers, and grits. These solid materials remain undissolved in water, which causes cloudiness and is commonly known as total suspended solids (TSS). The chemical and wastewater treatment is required to decrease the TSS levels as per the end-user requirement.
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Chemical and wastewater treatment has a huge application in the power generation industry. The chemical and wastewater treatment is required in the power generation industry for wastewater recycling and makeup water. Stringent government regulations for wastewater treatment chemicals, growing urbanization and industrialization further grows the demand for chemical and wastewater treatment in the power generation industry.
Rising demand for chemical and wastewater treatment in end-use industries like oil & gas, chemical, and mining for using wastewater in emerging countries is the key factors attributed to the market growth. Furthermore, the growing awareness towards wastewater, growing investment in the industrial sector, rise in demand from industrial and municipal wastewater treatment, and growing initiatives from NGO and government organization for waste reduction is also expected to fuel the market growth during the forecast period. On the other hand, alternative methods for chemical and wastewater treatment and increasing water treatment chemical prices is acting as a restraint to this market. However, continuous development in formulations of chemicals for wastewater and growing industrialization is expected to create major growth opportunities during the forecast period.