June 04, 2019
WELLESLEY, Mass., June 04, 2019–Industrial process water treatment will lead end uses in the global market for specialty water treatment chemicals, according to a report by BCC Research, “Water Management Markets: A Global Outlook.”
The market expects to see a compound annual growth rate (CAGR) of 6.2% through 2023, when it could be worth $46.6 billion, according to the report.
“Global demand for specialty chemicals in water treatment market will increase from approximately $34.5 billion in 2018 to $46.6 billion in 2023,” the report notes. “Industrial process water treatment will be the largest end-use segment for specialty chemicals, reaching $16.2 billion by 2023 and growing at the highest CAGR, 6.8%, during the forecast period.”
Access to Safe, Clean Water Remains a Global Challenge
Access to clean, safe water remains a global challenge, the report adds. Some 700 million today face water scarcity, while 1.1 billion lack access to safe water and 2.6 billion lack access to basic sanitation. Up to half of hospital patients globally suffer from waterborne diseases. Issues such as water quality, quantity, and infrastructure have an important impact on the market. While developed nations in Europe and North America have stable supplies and high quality standards, basic challenges are still being confronted in the developing world and water management will play an increasing role in solving these problems.
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Water Management Markets: A Global Outlook( ENG021A )
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