Global Water Treatment Chemicals in Oil & Gas - Segmented by Product Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Market for Water Treatment Chemicals is expected to witness a robust growth rate during the forecasted period, majorly driven by their increasing usage in the oil & gas industry.
Rising Shale Water Extraction Contamination
The availability and supply of fresh water for the use in hydraulic fracking is becoming more expensive and difficult to obtain, in turn increasing the operating cost of oil and gas companies. Additionally, the volatility in the oil and gas prices is forcing oil and gas companies to focus their investments on water and wastewater treatment chemical technologies. With the growing shortage of the fresh water for extraction, companies are shifting their focus towards obtaining sustainable and cost effective water and wastewater management solutions. Furthermore, companies are also adopting modular technologies, which are multifunctional and compact and can be located off-grid. Rising shale gas extraction in North America will boost the demand for water treatment chemicals, and in turn propel the growth of the market.
Rising Demand for Biocides & Disinfectants
Biocides are widely used in cooling water treatment plants. Cooling water towers are ideal locations for the growth of biological organisms, such as bacteria, algae, fungi, sulphate-reducing bacteria, and protozoa. If their growth is not controlled, they form a layer of bio-slime, which acts as a natural adhesive surface for scale formation, resulting in reduced system efficiency, increased corrosion rates, and reduced water flow is expected to provide a significant boost to the water treatment chemicals market.
India is one of the Fastest Growing Market
India is a fast-growing economy with a promising future for market growth. Hasty economic growth is leading to greater productivities, which in turn is increasing the demand of oil for production and transportation. With the rising income levels, demand for automobile is estimated to increase the dependency on oil and gas, which, in turn, is leading to increase the oil and gas production in the country. Moreover, the oil & gas sector in India is constantly evolving, which, in turn, increases the usage of water treatment chemicals in the near future.
Major Players: Avista Technologies, Inc., BASF SE, Chemtex Ltd, Chemtex Specialty Ltd., DowDuPont, and Kurita Water Industries Ltd., among others.
Reason to Purchase this Report
Analyze various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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