Antiscalant Market - Forecast (2024 - 2030)
Antiscalant Market Overview:
Antiscalant Market size is estimated to reach US$4.7 billion by 2030, growing at a CAGR of 4.7% during the forecast period 2023-2030. Technological advancements in antiscalant formulations and the growing demand for water treatment are driving the demand for antiscalants. This trend is expected to boost the growth of the Antiscalant Market during the forecast period.
Additionally, emerging economies are experiencing rapid industrialization and urbanization, leading to a significant increase in demand for water treatment solutions. This presents an opportunity for antiscalant manufacturing companies to expand their market reach and increase sales in these regions. This boosts the Antiscalant industry outlook during the forecast period.
COVID-19 / Ukraine Crisis - Impact Analysis:
● The COVID-19 pandemic impacted the operations of various industries globally. As a result, several industries such as chemical and oil & gas had to shut down production as countries adopted partial or absolute lockdown policies to deal with the pandemic. Companies throughout the world also halted or postponed large oil and gas ventures. The decline in production activities further negatively affected the demand for antiscalants over the short to medium term.
● Like most chemicals, antiscalants are subject to price volatility due to various factors such as energy prices, transportation costs, and currency exchange rates. The Russia-Ukraine war has had a direct impact on the price of oil & gas as Russia is a major supplier. Western sanctions also have impacted the oil price. On February 24, 2022, when US President Biden, announced sanctions against Russia, West Texas Intermediate (WTI) crude rose 0.8%, to settle at US$92.81 a barrel, after earlier rising to US$100.54. WTI hit its highest levels since July 2012.? This uncertainty has also contributed to fluctuations in antiscalant prices amid a complex geopolitical situation.
Key Takeaways:
● Fastest Growth of Asia-Pacific Region
Geographically, in the Antiscalant market share, Asia-Pacific is analyzed to grow with the highest CAGR of 6.2% during the forecast period 2023-2030. APAC has a rising need for antiscalants owing to the growth of the chemical sector, the expansion of oil and gas production, and the accessibility of cheap labor. According to Invest India, the market for chemicals and petrochemicals is anticipated to reach $300 billion by 2025. Antiscalant demand will thus increase as a result of the expanding chemical industry. The region is also home to several major industries that require significant amounts of water, such as power generation, mining, and chemical manufacturing, which are all users of antiscalants.
● Phosphonate Segment to Hold the Largest Market Share
In the Antiscalant Market analysis, the phosphonate segment is estimated to hold the largest market share in 2022 as it is widely used for water treatment solutions using corrosion and scale inhibitors, as well as iron sequestrants. By integrating multiple functions in one molecule, phosphonates provide efficacy at low concentrations. These are also utilized in the manufacture of bleaching agents as a stabilizer. Phosphonates antiscalants are oxidized by hydrogen peroxide and ozone. Higher phosphonate oxidation results from the coordination of the phosphonate with dissolved calcium ions. Sulfonates also held a significant share and, owing to their growing use in the seawater treatment sector. For the desalination of seawater resulting in precipitation, sulfonates are commonly used. This has contributed to its rising penetration in the sector of seawater treatment. Offshore oil and gas facilities that require antiscalants for seawater desalination have also experienced an increase in demand.
● Water Treatment is the Fastest Growing Segment
According to the Antiscalant Market forecast, the water treatment segment is estimated to grow with a CAGR of 6.2% during the forecast period. Antiscalant is the preferred pretreatment method for water systems due to its unmatched effectiveness in reducing membrane fouling. When used properly, antiscalant extends the time between membrane cleanings from a few weeks to years in some cases. In August 2023, LG Chem announced that it will invest approx. US$97.9 million by July 2025 to expand its Cheongju plant by adding a facility capable of producing 400,000 RO membranes annually. The planned expansion will desalinate 1.57 billion tons (4.32 million tons per day) of water annually. This water can be used by approximately 16 million people, which is about one-third of the entire Korean population. With the growing threat of water scarcity, there is a growing demand for water treatment solutions which fuels the growth of the antiscalant market.
● Technological Advancements in Antiscalant Formulations
The development of new and more effective antiscalant formulations is driving the growth of the Antiscalant market. Technological advancement leads to the new formulations that are more effective at preventing scaling and fouling while being environmentally friendly and cost-effective are expected to drive the growth of the antiscalant market in the coming years. The popularity of smart antiscalants, that use sensors to detect scaling and adjust the dosage of antiscalant accordingly, is growing. Smart antiscalants reduce waste and improves efficiency. In January 2023, Perm Ionics and Grundfos collaborated on implementing the Smart Filtration Suite, specifically the SmartRO algorithm focused on optimizing antiscalant dosing. Its main features include a unified data normalization analytic control as well as an antiscalant controller and optimizer that runs in auto mode.
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● Increasing Demand for Water Treatment
Water scarcity is becoming an increasingly pressing issue in many parts of the world. Antiscalants are used in desalination plants to prevent scaling and fouling of equipment, making them essential in areas where freshwater resources are limited. According to Asian Development Bank report published in 2022, despite advances in the water sector of the Asia and Pacific region, almost 500 million people in the Asia and Pacific region do not have access to basic water supplies and 1.12 billion lack access to basic sanitation. Moreover, the government are investing in water and wastewater management. In October 2023, the International Finance Corporation (IFC) and Thailand's Ministry of Interior signed a memorandum of understanding (MoU) to improve access to quality water and expand the country's wastewater treatment capacity. In March 2022, the Singapore Government allocated $220 million under the Research, Innovation and Enterprise 2025 (RIE2025) Urban Solutions & Sustainability (USS) domain to drive new initiatives in water technologies and resource circularity. Such investments will boost the demand for antiscalants and drive market growth during the forecast period.
● Environmental Issues to Impede to Market growth
Despite the essential efficacy of antiscalants, their use is increasingly correlated with many operational and environmental issues, such as membrane fouling of antiscalants and enhancing the formation of biofilm. Concentrated streams of rejected antiscalant compounds are often released into the water bodies and there are still uncertain acute and long-term effects on marine and aquatic environments. Therefore, these factors may restrain antiscalant market growth. In addition, the growing concern about the use of inorganic substances, especially in the food industry, is expected to be another limiting factor for the demand for organic antiscalants. Further treatment of traces in food and beverage products, resulting in additional cost increases, could lead to a restriction of the antiscalant market.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Antiscalant Market. The top 10 companies in this industry are listed below:?
1. BASF SE
2. The Dow Chemical Company
3. Kemira Oyj
4. Clariant AG
5. Solvay S.A.
6. Ashland Global Speciality Chemicals Inc.
7. SNF
8. Italmatch
9. Solenis
10. Avista