GLOBAL: Report says resource scarcity and security issues driving chemicals market (01/05/12)
Global Industry Analysts (GIA) has released a global report on the potable and wastewater treatment chemical markets that predicts it will reach $26.6 billion by 2017.
Growth will be primarily driven by stricter regulations on industrial wastewater effluent discharges, the growing global population, water infrastructure expansion in developing countries and water scarcity, caused by mismanagement of resources, the report says.
New regulations for sludge and wastewater treatment will drive demand for specialty chemicals, the report says, and this market is forecast to see maximum growth. These chemicals have enhanced performance, reduced toxicity and less environmental impact, GIA says.
This trend towards specialty chemicals underlines an ongoing move away from high-volume commodity chemicals, GIA notes.