PUBLISHER: The Business Research Company | PRODUCT CODE: 1500030
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500030
Cooling water treatment chemicals are essential substances utilized to uphold the effectiveness and durability of cooling systems by managing scale, corrosion, and microbial growth. These chemicals play a crucial role in preventing the accumulation of mineral deposits, which can impede heat transfer and diminish system efficiency. Among these chemicals are scale inhibitors, which work by sequestering or dispersing scale-forming ions such as calcium, magnesium, and silica to deter scale formation.
The primary categories of cooling water treatment chemicals include scale inhibitors, corrosion inhibitors, biocides, and other additives. Scale inhibitors, specifically, serve to forestall the buildup of mineral scale deposits within cooling water systems, thereby sustaining efficiency and extending equipment lifespan. These chemicals find application across diverse sectors such as raw water treatment, water desalination, cooling processes, boilers, effluent water treatment, among others. They are widely employed by industries spanning power generation, steel manufacturing, mining, metallurgy, petrochemicals, oil and gas, food and beverage, textiles, and various other sectors.
The cooling water treatment chemicals market research report is one of a series of new reports from The Business Research Company that provides cooling water treatment chemicals market statistics, including cooling water treatment chemicals industry global market size, regional shares, competitors with a cooling water treatment chemicals market share, detailed cooling water treatment chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the cooling water treatment chemicals industry. This cooling water treatment chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cooling water treatment chemicals market size has grown strongly in recent years. It will grow from $15.33 billion in 2023 to $16.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historical period can be attributed to factors such as compliance with health and safety regulations, initiatives for corrosion control, efforts to mitigate biofouling, concerns regarding energy efficiency, and the increasing awareness of water scarcity issues.
The cooling water treatment chemicals market size is expected to see strong growth in the next few years. It will grow to $21.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period is driven by factors such as digitalization, the implementation of water recycling initiatives, the impacts of climate change, the ongoing process of urbanization, and efforts towards microbial control. Key trends expected in the forecast period include the adoption of ultraviolet and ozone treatment methods, the utilization of antiscalants and dispersants, the increasing use of bio-based chemicals, the development of advanced formulations, and a transition towards multifunctional chemicals.
The surge in demand from power industries is anticipated to be a significant driver in propelling the growth of the cooling water treatment chemicals market in the foreseeable future. Within the power industry, responsible for electricity generation, there is a critical need for these chemicals to combat corrosion and microbiological growth, ensuring the reliability and efficiency of power plant equipment and operations. Cooling water treatment chemicals play a pivotal role in maintaining efficient heat transfer and safeguarding the optimal performance and longevity of equipment within power facilities. A notable illustration of this demand trend is evident in data released by the U.S. Energy Information Administration (EIA) in December 2023. The report highlights a substantial increase in total electricity consumption in the United States during 2022, marking a growth of approximately 3.2% compared to the previous year. Additionally, electricity sales to residential and commercial sectors surged by approximately 2.6% and 4.7%, respectively, further underlining the heightened demand within the power industry. Consequently, the growing reliance on power generation is poised to fuel the expansion of the cooling water treatment chemicals market.
Key players in the cooling water treatment chemicals market are actively engaged in product innovation to enhance effectiveness, efficiency, and sustainability in water treatment processes. A notable trend in this regard is the development of smart-tagged polymers, which incorporate embedded markers for tracking, identification, or responsive actions across various applications. For example, Italmatch Chemicals GB Ltd., a UK-based chemical company, introduced Lumiclene in October 2022, a line of smart-tagged polymers designed for industrial water treatment applications such as open-recirculating and closed-cooling systems. Lumiclene offers superior scale inhibition and dispersing capabilities, facilitating precise online monitoring and control of free-active polymer content in water. This innovative solution empowers industries with enhanced scale control, leading to improved system performance, reduced maintenance costs, and significant environmental benefits.
In April 2021, Kurita Water Industries Ltd., a Japan-based provider of groundwater and soil remediation services, made a strategic move by acquiring Keytech Water Management for an undisclosed sum. This acquisition is expected to bolster Kurita Water Industries' presence in the North American market by expanding its geographical reach and strengthening its product and service offerings. Keytech Water Management, headquartered in Canada, specializes in providing cooling water treatment chemicals, thus complementing Kurita Water Industries' strategic objectives for growth and diversification in the region.
Major companies operating in the cooling water treatment chemicals market are Dow Chemical Company, Ecolab Inc., Arkema S.A., Lonza Group Ltd, Solenis LLC, Kemira Oyj, Veolia Water Technologies & Solutions, Innospec Inc., Hydrite Chemical Co, Italmatch Chemicals S.p.A., DuBois Chemicals Inc., Ixom Operations Pty Ltd, Chem-Aqua Inc., Shandong Taihe Water Treatment Co Ltd, Aquapharm Chemicals Pvt. Ltd., Kurita Water Industries Ltd, Guardian Chemical Specialties Inc., Chemtex Speciality Limited, Accepta Ltd, BWA Water Additives UK Ltd., Zaozhuang Kerui Chemicals Co Ltd, Aries Chemical Inc., SNF Floerger
Asia-Pacific was the largest region in the cooling water treatment chemicals market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cooling water treatment chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cooling water treatment chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cooling water treatment chemicals market consists of sales of cleaners, filming inhibitors, alkalinity builders, anti-foaming agents, and oxygen scavengers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cooling Water Treatment Chemicals Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cooling water treatment chemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cooling water treatment chemicals ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cooling water treatment chemicals market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.