The North America Water Treatment Chemicals Market was worth USD 6.6 billion in 2022 which is expected to reach USD 10.6 billion by the end of 2028 with a compound annual growth rate of 4% during the forecast period of 2023-2028.
The growing awareness about environmental protection and human health in the North America Region has helped the area to increase the growth of the water treatment chemicals market.
Market Drivers:
Stringent regulatory requirements control wastewater disposal from both municipal and industrial sources is one of the major driving factors that help the growth of the North America Water Treatment Chemicals market. The growing demand for power industries in the United States is also another major driving factor for the growth of the Water Treatment Chemicals Market in the North America area. Another major driving factor that helps the growth of the water treatment chemicals market is the Increasing salinity of freshwater bodies, which in turn is anticipated to boost demand for seawater desalination projects which accounted for huge demand for clean and safe water in various manufacturing and processing industries such as power & energy and pharmaceuticals
Market Restraints:
One of the major restraints in the North America Water Treatment Chemicals Market is the increasing popularity of chlorine alternatives for cooling water treatment.
Market Segmentation Analysis:
Among these segments, the coagulants and flocculants segment holds the major share of the market.
Among these segments, the municipal segment holds the major share of the market and is anticipated to grow the revenue during the forecast period owing to strict regulation leading to increased usage for proper wastewater disposal.
The North American region holds the major share of the global water treatment chemicals market among the other regions with more than 25% of the overall revenue share. One of the main reasons behind this is the technological progression in hydraulic fracturing has occasioned in augmented production output of unconventional sources including shale gas and tight oil in North Dakota and West Texas parts of North America, which resulted in increased penetration of water treatment facilities in upstream oil and gas sector, which is foreseen to have a great impact of the market during the outlook period.
Due to stringent government regulations intended for monitoring the disposal and production of wastewater, the United States is anticipated to have a 2.4% compound annual growth rate during the forecast period.
As per the analysis, the United States is leading in the production, consumption, and supply of energy (presence of thermoelectric power plants).
Due to the corona pandemic, all the regions of the world are suffering from financial problems and are not able to continue their manufacturing units. Especially in the North American region, the corona has affected more in countries such as the United States, and Mexico with more corona cases recorded.
Since the lockdown has lifted in the United States, almost all the companies have restarted their manufacturing units and are slowly recovering from the financial crisis. As per the analysis, the water treatment chemicals market in North America is expected to get back to the normal stage and will grow the revenue at a rapid speed in the next few months.
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