Market Size –
The boiler water treatment chemicals market size has grown rapidly in recent years. It will grow from <b>$3.5 billion in 2023 to $3.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. </b> The growth in the historic period can be attributed to urbanization impact, food & beverage industry requirements, expansion in refineries, industrial safety focus, water conservation concerns.
The boiler water treatment chemicals market size is expected to see rapid growth in the next few years. It will grow to <b>$5.9 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. </b> The growth in the forecast period can be attributed to emphasis on sustainable practices, global manufacturing growth, rising industrial activities, expansion of power generation, increasing demand for energy. Major trends in the forecast period include maintenance cost reduction, expansion of power generation.
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Scope Of Boiler Water Treatment Chemicals Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Boiler Water Treatment Chemicals Market Overview
Market Drivers –
The increase in demand for power generation is expected to propel the growth of the boiler water treatment chemicals market going forward. Power generation installations refer to an industrial building that produces electricity using primary energy and one or more generators to transform mechanical energy into electrical energy. Chemical water treatment is essential for increasing the effectiveness of power generation in power plants and is critical for maintaining the stability of the functioning of thermal equipment. For instance, in June 2022, according to the Hydropower Status Report, published by the International Hydropower Association, a UK-based, non-profit international organization, for the global hydropower sector, at the end of 2021, installed hydroelectric capacity worldwide expanded by 1.9% to reach 1,360 GW of power generation, as compared to 2020; however, pumped storage capacity also increased by 3.3% to reach 165 GW of power in 2021, indicating the increased demand for power generation. Therefore, the increasing demand for power generation drives the boiler water treatment chemicals market.
Market Trends –
Technological advancement is a key trend in the boiler water treatment chemicals market. Technologically advanced chemicals were created scientifically to preventatively handle issues with water use, such as scale buildup, metallic corrosion, boiler water carryover, and sludge deposition. Major players in the market are focused on technological advancement to sustain their market position. For instance, in August 2021, The Energy and Resources Institute (TERI), an India-based research institute, developed a technology called The Advanced Oxidation Technology or TADOX. This technology reduces the load and dependence on tertiary and biological treatment systems, helping to achieve Zero Liquid Discharge (ZLD). TADOX uses UV-Photocatalysis to treat municipal sewage and highly polluting industrial wastewater streams. The technology is designed to be integrated and retrofittable in existing treatment systems, making it a viable option as a novel Decentralized Wastewater Treatment Technology (DWTT) applicable in upcoming and existing infrastructural projects, townships, commercial complexes, green buildings, and smart cities.
The boiler water treatment chemicals market covered in this report is segmented –
1) By Product: Coagulants And Flocculants, Biocide And Disinfectant, Defoamer And Defoaming Agent, pH And Adjuster And Softener, Scale And Corrosion Inhibitor, Other Products
2) By Application: Basic Chemicals, Blended Or Specialty Chemicals
3) By End-User Industry: Power Generation, Steel And Metal Industry, Oil Refinery, Chemical And Petrochemical, Textile And Dye Industry, Sugar Mill, Food And Beverage, Other End-User Industries
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Regional Insights –
Asia-Pacific was the largest region in the boiler water treatment chemicals market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the boiler water treatment chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the boiler water treatment chemicals market report are Ecolab Inc., Suez SA, Kemira Oyj, Kurita Water Industries Ltd., Solenis LLC, Arkema SA, BASF SE, ChemTreat Inc., Thermax Limited, Dow Inc., Eastman Chemical Company, GE Water & Process Technologies, Henkel AG & Co. KGaA, Italmatch Chemicals SpA, King Lee Technologies, Lonza Group Ltd., Ecolab Company, Nippon Rensui Co. Ltd., SUEZ Water Technologies & Solutions, Veolia Water Technologies & Solutions, Accepta Water Treatment Ltd., Aries Chemical Inc., Buckman Laboratories International Inc., Chemtex Speciality Limited, Cortec Corporation, Luminor Environmental Inc., Nouryon Chemicals Holding B.V, Solvay SA, US Water Services Inc., Albemarle Corporation
Table of Contents
1. Executive Summary
2. Boiler Water Treatment Chemicals Market Report Structure
3. Boiler Water Treatment Chemicals Market Trends And Strategies
4. Boiler Water Treatment Chemicals Market – Macro Economic Scenario
5. Boiler Water Treatment Chemicals Market Size And Growth
…..
27. Boiler Water Treatment Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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