The wastewater treatment chemicals market for phosphorus removal application is projected to witness considerable growth over 2030. Driven by a rapid shift toward environmentally friendly manufacturing practices, and implementation of waste management processes, the demand for wastewater treatment chemicals is likely to escalate in the coming years.
With a growing focus on innovative technologies, several industry players are ramping up efforts to upgrade their product portfolio through collaborations. For instance, in June 2022, Kemira announced a partnership with Veolia to assess the new phosphorus recovery technology, called ViviMag?. The patented technology is designed to recover iron, phosphorus, and other valuable resources from sewage sludge.
Furthermore, increasing government efforts to boost treatment capabilities and investments in wastewater treatment plants will favor a positive industry outlook. In August 2022, the government of Canada announced an investment worth more than $34 million in the development of 10 wastewater & waste management projects in Manitoba province.
Meanwhile, in September 2022, New York State officials declared an investment of more than $232 million to support water & sewer infrastructure projects across seven municipalities. Such initiatives are introducing grants and low-cost funding programs to strengthen water infrastructure, which is expected to complement the business scenario.
The wastewater treatment chemicals market for phosphorus removal application is segmented into product, end-use, and region.
Based on product, the industry is classified into ferric sulfate, ferrous chloride, ferrous sulfate, sodium aluminate, polyaluminum chloride (PAC), aluminum chlorohydrate (ACH), and aluminum sulfate (alum). The ferric sulfate segment is anticipated to witness over 9% CAGR from 2022-2030. Ferric sulfate is a water-insoluble yellow crystalline solid, hygroscopic in nature sourced from lausenite, mikasaite, and kornelite. It is also popularly used in skincare products due to its styptic characteristics and in the textiles industry for dying & calico printing of fabrics.
With respect to end-use, the market is bifurcated into municipal and industrial. The industrial segment is further categorized into oil & gas, agrochemical, food & beverages, mining, chemicals, pharmaceutical, iron & steel, and power generation. The wastewater treatment chemicals market for phosphorus removal application from agrochemicals accounted for over USD 700 million in 2021.
The segment is expected to grow at a sustainable rate owing to rapidly declining fresh water supplies and high demand for agricultural water. Agriculture is a water-intensive industry and therefore needs water treatment chemicals to address avoid the use of polluted water. Surging agricultural output, high consumption of fertilizers, and growing pressure on productivity are some of the key parameters consolidating segment growth.
The Latin America wastewater treatment chemicals market for phosphorus removal application is expected to expand at a CAGR of over 9% by 2030. The increasing demand for water treatment chemicals in the region can be attributed to the deployment of strict environmental standards. New sewage treatment projects established to recover the quality and life of water bodies as well as municipal and business infrastructures will offer a lucrative scope for industry players in LATAM.