March 16, 2020
As per the report titled ‘Mexico Water Treatment Chemicals Market Size By Product, End-Use, Industry Analysis Report, Country Outlook , Application Potential, Competitive Market Share & Forecast, 2018 - 2024’, available with Market Study Report LLC, Mexico water treatment chemicals market is projected to cross USD 2 billion by the year 2024.
Increasing population and rising industrial activities are augmenting the growth of Mexico water treatment chemicals market. Continuous exhaustion of freshwater sources coupled with strict regulatory norms regarding TSS levels in water are fostering the demand for high-end water treatment processes in Mexico. Growing consumer awareness regarding waterborne diseases is driving the demand for potable water which in turn is propelling the adoption of water treatment chemicals.
Extensive use of water in industrial and power generation industries has necessitated the pre-treatment of water, thereby boosting the water treatment chemicals market in Mexico. Growing incorporation of new and advanced water treatment methods for recycling highly polluted resources, coupled with the wide applications of water treatment chemicals in cooling water, membrane water, and boiler water will continue to foster the market growth in the coming years.
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Growing focus towards the use of green chemicals for eliminating impurities such as fungi, algae, suspended solids, and viruses will stimulate the market growth in the coming years. Furthermore, increasing number of regulations from various authorities such as CNA will positively impact the business landscape.
Based on the product, coagulants segment is presumed to grow with a CAGR of 5% during the study period. Low cost and the ability of these products to neutralize solutions are encouraging the product adoption. Increasing product usage for various end-use applications such as drinking & wastewater treatment, power generation, municipal water treatment, and chemical processing is another factor contributing to the growth of segment.
Speaking of the end-use spectrum, municipal corporation segment held a market share of 55% in 2017 and is expected to witness considerable growth during the analysis period. Increasing concerns pertaining to waterborne diseases is the primary factor driving the demand for water treatment chemicals in the municipal corporation. In addition, rapid urbanization and booming population are enhancing the market outlook.
Major players of Mexico water treatment chemicals market are Kemira, SNF Floerger, Univar, Inc., Buckman, Kurimexicana, Suez Water & Process Technologies, and Ashland chemicals. These market contenders are undertaking various strategies such as collaborations, new product launches, mergers, and acquisitions to improve their stance in the industry.
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