Water, with the chemical formula H2O, is a molecular compound. A compound can either be an ionic compound or a molecular compound. Molecular compounds are any compound that consists of two or more nonmetal atoms.
Ionic compounds consist of at least one metal atom, which form ionic bonds with at least one nonmetal atom. Because of the metal content, ionic compounds are able to conduct electricity, although some are better than others.
Since water contains no metal atoms, it is a molecular compound. Furthermore, molecular compounds can be polar or nonpolar. Water is a polar molecular compound because of the dipoles that exist on each bond due to the difference in electronegativity strength of the hydrogen and oxygen atoms.