Insights Into The Cooling Water Treatment Chemicals Market’s Growth Potential 2024-2033
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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.
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.
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What Are The Key Trends That Influence Cooling Water Treatment Chemicals Share Analysis?
Leading companies in the cooling water treatment chemicals market are developing cutting-edge products like smart-tagged polymers to boost the effectiveness, efficiency, and sustainability of water treatment processes. These polymers feature embedded markers that aid in tracking and identifying for various applications. For instance, in October 2022, Italmatch Chemicals GB Ltd., a UK-based chemical company, launched Lumiclene. This new line of smart-tagged polymers is designed for industrial water treatment, offering superior scale inhibition and dispersing capabilities. Lumiclene allows precise online monitoring and control of the free-active polymer in water, improving system performance, reducing maintenance costs, and delivering significant environmental benefits.
Which Market Players Are Driving Growth In The Cooling Water Treatment Chemicals Market?
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
How Is The Global Cooling Water Treatment Chemicals Market 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
Read The Full Cooling Water Treatment Chemicals Market Report Here
The Cooling Water Treatment Chemicals Global Market Report 2024 provides an overview of the cooling water treatment chemicalsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cooling water treatment chemicals market forecast analyzes cooling water treatment chemicals market size, cooling water treatment chemicals market share, leading competitor and their market positions.
The Table Of Content For The Cooling Water Treatment Chemicals Market Include
1. Cooling Water Treatment Chemicals Market Executive Summary
2. Cooling Water Treatment Chemicals Market Segments
3. Cooling Water Treatment Chemicals Market Size And Template Market Growth Rate
4. Key Cooling Water Treatment Chemicals Market Trends
5. Major Cooling Water Treatment Chemicals Market Drivers
……
25. Key Mergers And Acquisitions In The Cooling Water Treatment Chemicals Market
26. Top Cooling Water Treatment Chemicals Companies
27. Cooling Water Treatment Chemicals Market Opportunities And Strategies
28. Cooling Water Treatment Chemicals Market, Conclusions And Recommendations
29. Appendix
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