The water and wastewater treatment chemicals market in the Middle East region is set to perform well over the next five years, growing at a compound annual growth rate (CAGR) of 3.2 per cent, said a report by 6Wresearch, a global market research and consulting firm.
Saudi Arabia holds a dominant market share in the water and wastewater treatment chemicals market in the Middle East region, stated 6Wresearch.
Groundwater pollution is one of the major concern of the governments in the Middle Eastern region, as a result Middle East government are providing incentives to build wastewater treatment plants to encourage the reuse of wastewater, stated the consulting firm in its report titled "Middle East Water & Wastewater Treatment Chemicals Market (2019-2025)."
Rise in the number of industrial activities along with stringent environmental regulations have propelled the demand for water and wastewater treatment chemicals market in the Middle East region, it added.
According to 6Wresearch, emerging technologies such as advanced oxidation processes, UV radiation and others have given tremendous boost to the market.
Moreover, several governments in the Middle East have enforced limits on groundwater utilization and saline water treatment, which are expected to drive the market over the coming years, it stated.
Senior Research Analyst Gurbani said power and oil and gas segments are expected to register significant growth over the forecast period on account of rising demand for freshwater in the industrial activities.
"Further, government strategies such as “Water Security Strategy” etc. have been playing a pivotal role in the wastewater treatment, thereby driving the water & wastewater treatment chemicals market in the Middle East region," he noted.
Research Associate Swati Acharya pointed out that Saudi Arabia held a major market share in the Middle East water & wastewater treatment chemicals market and was expected to grow at a fast rate over the period owing to an increase in the number of industrial activities.
"Moreover, the adoption of tertiary filtration has been gaining traction owing to its potential to raise the quality of the water before being discharged into the environment," she noted.
Some of the major companies in the Middle East water & wastewater treatment chemicals market include Dow Chemicals, Veolia Water Technologies, Ecolab and Kurita Chemicals, she added.-Trade Arabia News Service.
Media Courtesy : Trade Arabia