In 2017, the global water treatment chemicals market reached a value of $44,718.3 million, and it is expected to attain $58,747.7 million by 2023, growing with a CAGR of 4.7% during the forecast period (2018–2023). The various factors positively affecting the growth of the market include the surging concern of waterborne diseases, increasing adoption of the desalination process across the globe, and stringent government regulations. Water treatment compounds are utilized for removing impurities, such as fungi, viruses, algae, suspended solids, and minerals, from the water.

On the basis of type, the water treatment chemicals market is categorized into oxidants, anti-foaming agents, corrosion inhibitors, chelating agents, coagulants & flocculants, scale inhibitors, biocides & disinfectants, PH adjusters & stabilizers, oxygen scavengers, and others (which include resin cleaners and algaecides). Out of these, the largest sales volume, during the historical period (2013–2017), was of coagulants & flocculants, which held an over 25.0% share in 2017. The reason for this was the growing use of this chemical for lime softening, solid dewatering, sludge thickening, and water clarification.

When application is considered, the water treatment chemicals market is divided into chemical processing, municipal water treatment, construction, metal & mining, power generation, oil & gas, pulp & paper, food & beverage, and others. The largest share (over 30.0%) of the market was held by the municipal water treatment application in 2017, in terms of volume. This was due to the increasing population, which is resulting in the rising municipal water waste. The division is further expected to dominate the market during the forecast period, in terms of volume and value.

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The growing concern for waterborne diseases is a major driving factor of the water treatment chemicals market. The pollution level in the water bodies has increased considerably because of the large-scale discharge of untreated water from power and industrial plants and commercial and household waste. This has resulted in high toxicity levels in the water, which has made it unfit for human consumption at many places. Since there is an absence of other sources of water, especially in developing countries, people end up consuming polluted water, which makes them prone to waterborne diseases, such as dysentery, typhoid, and cholera.

As the fresh water on the earth is limited, the adoption of desalination of seawater is growing across the world, thereby further driving the water treatment chemicals market. The process is increasingly being adopted by countries such as the U.A.E., Qatar, sub-Saharan African nations, and Saudi Arabia, as they have limited reserves of freshwater. Water treatment chemicals are used during the desalination process to ensure that it happens without any scaling or fouling. As the population across the globe is increasing, the demand for fresh water is rising rapidly, which is further resulting in the large-scale deployment of desalination plants.

Another key factor leading to the growth of the water treatment chemicals market is the stringent government regulations. As the water quality across the globe is deteriorating rapidly, countries are becoming more inclined toward implementing strict rules and regulations that restrict the discharge of toxic chemicals into the water bodies and make sure that proper chemical water treatment takes place. The implementation of these standards is predicted to further increase the demand for water treatment chemicals.

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Hence, the implementation of strict government regulations, rising concern about waterborne diseases, and increasing desalination process adoption across the globe are driving the market.