US water treatment chemical market to grow by 3.2% over five years
Demand for water treatment chemicals in the United States is expected to increase by 3.2 percent over the next five years and reach $6.6 billion in 2017, according to a new report by the Freedonia Group.
A combination of several factors is predicted to play a role in the U.S. water treatment chemical market, the report forecast. The oil and gas industry, as well as mining companies, are among the sectors that traditionally hold a large share of the demand, but over the examined period a rebound in manufacturing water treatment chemical demand can also be expected. In addition, companies are predicted to keep investing in water treatment equipment due to a shift in preferences for safer and more efficient chemicals, which are also more expensive, the Freedonia Group pointed out.
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The report stated that scale control agents are forecast to see the fastest growth through 2017, followed by foam control chemicals, with increased water recycling boosting their strong performance. On the other end of the scale, demand for biocide chemicals is forecast to slow down due to more widespread use of disinfection equipment.
Similarly, more mature categories of water treatment chemicals are likely to record slower growth rates mostly because of the changing trends in product mix and water recycling rates. Segments like corrosion inhibitor agents, higher-value coagulants and flocculants are still expected to make gains through 2017, the report said.