Overview and Scope
Cooling water treatment chemicals refer to substances used to maintain the efficiency and longevity of cooling systems by controlling scale, corrosion, and microbial growth. These chemicals help prevent the buildup of mineral deposits, which can impair heat transfer and reduce system efficiency. It include scale inhibitors that prevent the formation of scale by sequestering or dispersing scale-forming ions, such as calcium, magnesium, and silica.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The cooling water treatment chemicals market report table of contents includes:
1. Executive Summary
2. Cooling Water Treatment Chemicals Market Characteristics
3. Cooling Water Treatment Chemicals Market Trends And Strategies
4. Cooling Water Treatment Chemicals Market – Macro Economic Scenario
5. Global Cooling Water Treatment Chemicals Market Size and Growth
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31. Cooling Water Treatment Chemicals Market Other Major And Innovative Companies
32. Global Cooling Water Treatment Chemicals Market Competitive Benchmarking
33. Global Cooling Water Treatment Chemicals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cooling Water Treatment Chemicals Market
35. Cooling Water Treatment Chemicals Market Future Outlook and Potential Analysis
36.Appendix
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