The industrial wastewater treatment market size is expected to grow from USD 11.3 billion in 2019 to USD 15.0 billion by 2024, at a CAGR of 5.8%. Growing industrialization and urbanization are major factors driving the market. The requirement of a safe working environment in industrial facilities is also boosting the demand for industrial wastewater treatment.
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The coagulants segment is projected to register the highest CAGR in the industrial wastewater treatment market during the forecast period
Based on type, the water clarifiers market is segmented into coagulants, flocculants, corrosion inhibitors, scale inhibitors, biocides & disinfectants, anti-foaming agents, pH stabilizers, chelating agents, and others. The coagulants segment is expected to register the highest growth rate in the global industrial wastewater treatment market during the forecast period. Coagulants are the most essential chemicals used in wastewater treatment. Almost all the industries need coagulants for the water clarification process. Moreover, the inorganic coagulants have low cost and are widely available across the globe.
The power generation segment is projected to lead the industrial wastewater treatment market during the forecast period.
Among these end-use industries, power generation is the largest and fastest-growing segment of the industrial wastewater treatment market. As the standards and norms for discharging wastewater are becoming more stringent, the demand for wastewater treatment chemicals in the power generation industry is increasing rapidly. Besides environmental benefits, the zero liquid discharge (ZLD) system plays a major role in enhancing wastewater treatment chemical consumption. ZLD has become a statutory norm in power plant; as a result, wastewater recycling provides more options for site selection and reduces the amount of makeup water, and it also eliminates the costs related to sewer disposal. These factors are driving the demand for industrial wastewater treatment in the power generation industry during the forecast period.
North America is projected to be the largest industrial wastewater treatment market during the forecast period.
North America is projected to be the largest market for industrial wastewater treatment. This growth is mainly driven by the huge demand for industrial wastewater treatment in the US and Canada. The stringent water purification regulations drive the consumption of wastewater treatment chemicals in these countries. Moreover, the presence of a large industrial infrastructure for power generation, oil & gas, mining, chemical, and pulp & paper industries in the US drives the demand for industrial wastewater treatment in this region.
The key players in the industrial wastewater treatment market include Ecolab (US), Suez (France), Kemira OYJ (Finland), SNF Floerger (France), Solenis (US), Feralco Group (Sweden), IXOM (Australia), Hydrite Chemical Co. (US), Kurita Water Industries Ltd. (Japan), and Aries Chemical (US). These players have established a strong foothold in the market by adopting strategies such as merger & acquisition, investment & expansion, and new product launch.
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