New York, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on Cooling Water Treatment Chemicals Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Corrosion Inhibitor, Scale Inhibitor, Biocide, and Others), End-Use Industry (Power Industry; Steel, Mining, and Metallurgy; Petrochemicals and Oil & Gas; Food & Beverages; Textile; and Others), and Geography. The cooling water treatment chemicals market is expanding at a steady pace. Growing demand for cooling water treatment chemicals from the power industry and the increasing number of nuclear plants globally, coupled with the need to maintain the existing plants, bolster the market growth. Furthermore, the stringent regulations by governments on water conservation and wastewater management are fueling the demand for cooling water treatment chemicals.
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Global Cooling Water Treatment Chemicals Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 11.85 Billion in 2022 |
| Market Size Value by | US$ 16.42 Billion by 2028 |
| Growth rate | CAGR of 5.6 % from 2022 to 2028. |
| Forecast Period | 2022- 2028 |
| Base Year | 2022 |
| No. of Pages | 140 |
| No. Tables | 53 |
| Historical data available | Yes |
| No. of chart and figures | 68 |
| Segments covered | Type and End Use Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Purchase Options | Request customized purchase options to meet your research needs. |
Cooling Water Treatment Chemicals Market: Competitive Landscape and Key Developments
Accepta, Albemarle Corporation, Buckman, Chemtex Speciality Limited, ChemTreat, Inc., DuBois Chemicals, Ecolab, Veolia Water Technologies, Kemira Oyj, and Kurita Water Industries LTD are the prominent players operating in the global cooling water treatment chemicals market.
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In 2021, Asia Pacific accounted for the largest share of the global cooling water treatment chemicals market. The region is also projected to witness the highest CAGR during the forecast period. Many small- and large-scale manufacturing companies have a presence in India, China, and Japan. China accounted for the largest revenue share in the cooling water treatment chemicals market in this region, which can be attributed to the vast power industry in the country. The manufacturing sector in Asia Pacific is rapidly adopting the innovation accelerators such as advanced technologies and processes. Over the past few years, manufacturing spending has grown significantly in the region. Government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India. Such developments in the manufacturing sector favor India's cooling water treatment chemicals market growth. Moreover, new initiatives such as "Factories of the Future" and novel business models are boosting the demand for cooling water treatment chemicals in Asia Pacific.
Quick urbanization, economic improvements, and industrial expansion have resulted in a tremendous demand for water worldwide. The consumption of freshwater is surging globally due to climate change, population growth, and increased land use and energy generation, which has resulted in water scarcity, requiring prompt consideration. Additionally, rising costs of industrial water are rerouting industries' focus on water recycling and reuse. It is crucial to maintain the hydrological cycle to ensure a sustainable future.
The fundamental procedures used for water treatment are heater treatment, cooling treatment, and filtration. The adoption of cooling water treatment chemicals is high among industries such as oil & gas, pulp & paper, and electric power generation. These industries incorporate various technologies to recycle and reuse water to meet their huge water demands. For instance, the power industry uses water softener systems to reduce water hardness to prevent scale build-up, clogging, and expense. Such practices have accelerated the use of different cooling water treatment chemicals in these industries.
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The global cooling water treatment chemicals market is segmented on the basis of type and end-use industry. The market, by type, is segmented into corrosion inhibitor, scale inhibitor, biocide, and others. In 2021, the scale inhibitor segment accounted for the largest revenue share, and the corrosion inhibitor segment is expected to account for the highest CAGR during the forecast period. In terms of end-use industry, the cooling water treatment chemicals market is segmented into the power industry; steel, mining, and metallurgy; petrochemicals and oil & gas; food & beverages; textile; and others. In 2021, the power industry accounted for the largest revenue share.
Rapid urbanization, economic progress, and industrial expansion are the key factors that propel the demand for water across the world. Freshwater consumption has been increasing with climate change and elevated land usage, along with a rise in energy production with population growth. This has led to water scarcity, which calls for immediate attention. A hydrological cycle must be preserved to ensure a sustainable future. In addition, with the surge in the costs of water, industries are emphasizing the reuse and recycling of water. This factor further propels the demand for cooling water treatment chemicals.
Based on type, the global cooling water treatment market is segmented into corrosion inhibitor, scale inhibitor, biocide, and others. In 2021, the scale inhibitor segment accounted for the largest revenue share, and the corrosion inhibitor segment is expected to record the highest CAGR during the forecast period. The global cooling water treatment chemicals market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific accounted for the largest share of the market.
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The cooling water treatment chemicals market is driven by increasing government regulations on water conservation and wastewater management, coupled with the increased use of cooling water treatment in industrial applications. Moreover, the surging demand for cooling water treatment chemicals in the power industry, and the increasing number of nuclear plants, along with the need to maintain the existing plants, are bolstering the market growth.
Quick urbanization, economic improvement, and industrial expansion have resulted in a tremendous demand for water worldwide. The consumption of freshwater is surging globally due to climate change and increased land usage, along with the surge in energy generation with population growth, which has resulted in water scarcity, requiring prompt consideration. Additionally, the rising costs of water are rerouting the focus of industries on water recycling and reuse. Thus, the adoption of cooling water treatment chemicals is high in industries such as oil & gas, pulp & paper, and electric power generation. Efforts taken by these industries to recycle and reuse water for industrial applications to save water are bolstering the demand for different cooling water treatment chemicals, thereby boosting the market growth.
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