The acquisition further reinforces Italmatch Chemicals leadership in the North American oil and gas market, broadening the Italmatch Global Advanced Water Solutions business unit product portfolio, which will stimulate the Water Treatment Chemicals market.
Global: Italmatch Chemicals, a leading global specialty chemical group focused on the production and marketing of performance additives for water & process treatment, oil & gas, industrial lubricants and plastics. They have acquired Water Science Technologies (WST), a leading blender and chemical solutions provider for the North American oil & gas and industrial water treatment industries, based in Birmingham, Alabama (USA). This acquisition represents another critical step for Italmatch growth in the market, in line with the Group objectives in North America in its strategic sectors, starting from industrial water solutions, where the companies have a complementary product range. It will also provide a solid logistic base to better serve our oil & gas customers.
According to BlueWeave Consulting, Incessant growing for the freshwater in consequence of rapid urbanization, increasing economic development, and increasing industrial activities. Changing climate, changes in energy generation and land use, and growing human population are fueling the demand for water treatment chemicals across the globe. Fresh-water mainly used for electric power plant cooling, industrial &municipal uses, irrigation, aquaculture and for livestock. Development of waste treatment chemicals is significant because of increasing GDP, rising population, public consciousness, wastewater reuse, and improved economic conditions, new findings in the oil & gas industry, and growing expansions & other development strategies in the world. Contributions of several water quality associations and corporations toward research & development and enhancement of properties of water treatment chemicals such as biodegradability, efficiency, are also some of the drivers for water treatment chemicals. Additionally, the high cost associated with the technology is hampering the growth of the water treatment chemical market.
According to BlueWeave Consulting report titled "Global Water Treatment Chemical Market, by Product Type (Flocculants, Coagulants, Corrosion Inhibitors, Biocides & Disinfectants, Scale Inhibitors, pH Adjusters and Others), By End-Use Industry (Municipal, Power Generation, Oil & Gas, Chemicals Manufacturing, Mining & Mineral Processing, and Food & Beverages & Others), By Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa); Size and Forecast, 2014-2025"
Global Water Treatment Chemicals market is expected to grow with a CAGR of 5.70% during the forecast period 2018-2025, owing to increasing demand from municipal and industrial wastewater treatment applications. Wastewater treatment chemicals products demand will increase globally owing to the rise in consumer awareness regarding the depletion of natural resources and scarcity of fresh water in developed countries. Wastewater treatment chemicals products demand will increase globally owing to the rise in consumers awareness regarding the depletion of natural resources and scarcity of freshwater in developed countries.