The Europe Water Treatment Chemicals Market was worth USD 2.93 billion in the year 2022, which is expected to reach USD 7.5 billion by the end of 2028 with a compound annual growth rate of 4.35% during the forecast period of 2023-2028.
The market for water treatment chemicals in the European region has acquired a good share among the other regions owing to the Increasing treatment of wastewater due to heightened awareness about environmental protection and human health coupled with technological advancements. In addition to this, a growing number of commercial and residential construction projects are expected to positively influence the water treatment chemicals market in Europe during the forecast period.
Market Drivers:
The growth of the Europe Water Treatment Chemicals market is promoted by the large consumption of water in industries such as sugar & ethanol and petrochemicals. Solvents, corrosion inhibitors coagulants & flocculants, and antiscalants are some of the varieties of industrial chemicals used for water treatment in Europe.
Regulations developed by Europe Industrial Emission Directive to regulate the emission of industries also played a huge role in the development of water treatment chemicals in the Europe region.
The high demand for electricity in countries such as Germany, France, and the United Kingdom is also one of the major driving factors of the growth of the water treatment chemicals market in European nations.
Market Restraints:
One of the major restraints that are affecting the growth of the European water treatment chemicals market is high production and investment costs and the harmful effects of chemicals on the environment when not disposed of properly.
Another major growth-affecting factor of the Europe water treatment chemical market is the rising prevalence of alternate technologies like electrocoagulation and biofiltration technologies that hamper market growth.
Among these segments, the boilers segment holds the major share of the market owing to their ability to safeguard boiler components and piping from potential damage from contaminants like organic materials, and dissolved solids in the boiler water suspended solids.
The Coagulants and flocculants segment holds the major share of the market.
The municipal segment is likely to account for a prominent portion in the regional market.
Among these countries, Germany holds the major share of the market with 20.2% of the total share in 2018 in the European region. The companies in the country are investing more in innovative solutions for water treatment chemicals in both municipal and industrial processes through the development of new materials, process techniques, and chemicals.
United Kingdom region holds the second major share of the market in the European region and has a 16% share of the overall market in the area owing to rising investment in industrial and residential wastewater treatment applications.
France is also expected to increase the market value of water treatment chemicals during the forecast period owing to the increasing focus of municipalities on industrial waste treatment and strict rules regarding industrial emissions and discharge.
As the world is suffering from the coronavirus pandemic, companies have halted their manufacturing units due to the severe lockdown imposed by the government authorities of the respective countries which resulted in huge financial problems. The water treatment chemicals market is having a good revenue rate before the pandemic occurs. As per the reports, the water treatment chemicals market is expected to increase the revenue rate at a rapid growth in the next few months. Since scientists from various countries are working hard to release the vaccine for the coronavirus, we can expect that the situation will get back to normal within the next few months once the vaccine is released in the market, and all the industries will get back to the normal stage by overcoming all the obstacles.
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