Market Trends of South America Water Treatment Chemicals Industry
This section covers the major market trends shaping the South America Water Treatment Chemicals Market according to our research experts:
Oil & Gas Industry to Dominate the Market
- Various oil & gas producers are constantly developing technologies to reduce and reuse water, while exploring the use of alternatives, owing to financial constraints, and depleting freshwater resources.
- During the oil extraction process, water is also extracted from the source known as produced water, which is the largest waste stream generated in this industry. This produced water contains a mixture of different organic and inorganic compounds that are to be separated from that water. Processes like pre-treatment, demineralization, and silica removal must be performed to ensure boiler feed water quality.
- The oil & gas production in the region has been witnessing significant growth in the recent years particularly in countries like Brazil, Colombia, and Peru.
- Hence, owing to the above-mentioned reasons, oil & gas industry is likely to dominate the south America water treatment chemicals market during the forecast period.
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Brazil to Dominate the Market
- Brazil is the largest economy in South America and one of the fastest growing countries in the world. The country is also witnessing fast growing population and rapid urbanization. Water treatment chemical is used in industries such as food & beverages, Oil & gas, chemical plants, municipal, mining etc. in the country.
- The oil & gas industry been witnessing a significant growth in the past few years. According to the National Agency of Petroleum, Natural Gas and Biofuels, known as the ANP, the country could bring its oil production to more than 5 million barrels per day by 2027. This growth in the oil & gas industry is likely to boost the demand for water treatment chemicals in the country.
- Moreover, Brazil lacks proper sewage treatment facilities, with even major cities found to be able to treat only a small portion of the produced wastewater. Thus, the government is planning to have proper water treatment facilities, which will increase the usage of water treatment chemicals.
- Hence, owing to the above-mentioned factors, Brazil is likely to dominate the South America water treatment chemicals market during the forecast period.
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