Water scarcity is the lack of access of potable water for day to day activities. Water scarcity is affecting every continent in the world and with increased industrialisation and population growth, the stress on limited fresh water is on the rise. As per the United Nations, over 2 billion people globally are experiencing high water stress. Furthermore, it is estimated that by the year 2040 around one fourth of the global children population under the age of 18 that account for around 600 million will be living in areas demarcated as high-water stress areas. This will further result in around displacement of around 700 million people globally. To mitigate all the above effects, it is important that the water is used judiciously, and wastewater is reused after suitable treatment. Industrial water treatment chemicals play a crucial role helping mitigate the water stress.
The rampant growth of the industrial sector in the 21st century has led to the generation of millions of litters of wastewater, the majority of which are let into the environment untreated and seeps into drinking water sources. As per the International Organization for Standardization, around 1.8 billion population is drinking from a source which is highly contaminated and leads to disease, malnutrition, child death and poverty.
Governments across the globe have passed strict legislation that mandates industries to treat wastewater before letting it off in the environment, so as to mitigate the risk associated with it. Furthermore, governments are focussing in meeting Sustainable Development Goal 6, which ensures the availability and sustainable management of water and sanitation. All these factors are likely to create a demand for the industrial water treatment chemicals market during the forecast period.
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COVID-19 Impact Analysis
The recent COVID-19 outbreak has disrupted the supply chain and created a blip in the financial markets globally. The world economic order has been thrown open to a curveball after the significant distress and loss in almost every country owing to the pandemic. Leading economies such as the U.S. and U.K. are already heading towards protectionist measures by quitting the Trans-Pacific Partnership and Brexit, which hamper the market growth as many global players are dependent on China for raw materials.
Industrial Water Treatment Chemicals Market: Segmentation
The Middle East and Africa
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