The cooling water treatment chemicals global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cooling Water Treatment Chemicals Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to health and safety regulations, corrosion control, biofouling mitigation, energy efficiency concerns, and water scarcity.
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 growth in the forecast period can be attributed to digitalization, water recycling initiatives, climate change, urbanization, and microbial control. Major trends in the forecast period include ultraviolet and ozone treatment, antiscalants and dispersants, bio-based chemicals, advanced formulations, and a shift towards multifunctional chemicals.
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Scope Of Cooling Water Treatment Chemicals MarketThe 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.
Cooling Water Treatment Chemicals Market Overview
Market Drivers -The growing demand from power industries is expected to propel the growth of the cooling water treatment chemicals market going forward. The power industry refers to a department responsible for electricity generation. The demand for cooling water treatment chemicals in the power industry is driven by the need to maintain corrosion and microbiological growth, ensuring the integrity and performance of power plant equipment and operations. Cooling water treatment chemicals are essential in the power industries for maintaining efficient heat transfer and ensuring optimal performance and longevity of equipment. For instance, in December 2023, according to the U.S. Energy Information Administration (EIA), a U.S.-based governmental organization, in 2022, total electricity consumption in the United States increased by approximately 3.2% compared to 2021. Moreover, electricity sales to residential customers rose by approximately 2.6%, while sales to the commercial sector increased by about 4.7% compared to 2021. Therefore, the growing demand from power industries is driving the growth of the cooling water treatment chemicals market.
Market Trends –
Major companies operating in the cooling water treatment chemicals market are focused on developing innovative products, such as smart-tagged polymers, to enhance the water treatment process’s effectiveness, efficiency, and sustainability. Smart-tagged polymers with embedded markers facilitate tracking, identification, or responsive actions in various applications. For instance, in October 2022, Italmatch Chemicals GB Ltd., a UK-based innovative chemical company, launched Lumiclene, a new line of smart-tagged polymers. These polymers, including open-recirculating and closed-cooling systems, are designed for industrial water treatment applications. Lumiclene offers superior scale inhibition and dispersing capabilities, enabling precise online monitoring and control of the free-active polymer in the water. This innovative solution gives industries better control over scale, leading to improved system performance, reduced maintenance costs, and significant environmental benefits.
The cooling water treatment chemicals market covered in this report is segmented –
1) By Type: Scale Inhibitors, Corrosion Inhibitors, Biocide, Other Types
2) By Application: Raw Water Treatment, Water Desalination, Cooling, Boiler, Effluent Water Treatment, Other Applications
3) By End Use: Power, Steel, Mining, And Metallurgy, Petrochemicals, Oil And Gas, Food And Beverages, Textile, Other End Uses
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary2. Cooling Water Treatment Chemicals Market Report Structure3. Cooling Water Treatment Chemicals Market Trends And Strategies4. Cooling Water Treatment Chemicals Market – Macro Economic Scenario5. Cooling Water Treatment Chemicals Market Size And Growth…..27. Cooling Water Treatment Chemicals Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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