Global Cooling Water Treatment Chemicals Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2022 - 2030)

The global cooling water treatment chemicals market is expected to register a CAGR of 6.80% during the forecast period (2018 – 2023). In 2017, North America accounted for the largest market share, followed by Europe and Asia-Pacific. However, Asia-Pacific is expected to register the fastest growth during the forecast period.

Growing Demand from Power Industry

The highest single use of water is cooling in thermal power generation. For power generation and process facilities, cooling water treatment is often a plant’s most critical aspect. For many countries, it was identified that the cooling water treatment market has a high correlation with the fossil fuel energy usage, and thereby, with power consumption. Even though fledgling renewables industry is proliferating, the scale of electricity produced by renewable resources is too small to satiate the growing demand. Hence, growth in the power sector is projected to drive the cooling water treatment chemicals market.

Power Industry – The Major Consumer of Cooling Water Treatment Chemicals

The power industry is the major consumer of cooling water chemicals due to their need for large quantities of cooling water. Power industries often use seawater for cooling and are equipped with anti-corrosion heat exchange equipment. They predominantly recycle the water and return it to the source. In the case of the water taken from dirty lakes, the returned water is cleaner than the intake water. In these industries, 99% of the water taken is returned, and less than one percent of the water is wasted in evaporation. This industry segment is expected to increase at a dynamic rate in the future, due to the growing power generation sector, particularly in developing regions. Due to the growing demand from the power industry from developing economies, the market for cooling water treatment chemicals is projected to grow during the forecast period.

Asia-Pacific to Dominate the Market Growth

Asia-Pacific is the third largest market for cooling water treatment chemicals and it is also estimated to be the fastest growing market in the forecast period. In terms of potential, countries, such as China, India, Thailand, and Indonesia, are lucrative for business growth. Economic growth, industrialization, rising environmental awareness, and government support are the major factors that contribute to the attractiveness of the market in the region. China is the largest and fastest growing market for water treatment chemicals in Asia-Pacific, with an expected CAGR of nearly 10% during the forecast period. The huge and fast-growing markets in China, coupled with government funding, are expected to be the driving factors for the aforementioned growth.

Major Players: BASF SE, Kemira, Ecolab, Kurita Water Industries Ltd, Suez, DowDuPont, and Albemarle Corporation, amongst others.

Reasons to Purchase this Report

• Analyzing the growing demand from power industry that is expected to drive the market
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Analyzing the end-user industry that is expected to dominate the market
• Detailed analysis of region that is expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
• Along with the customization, we also have an individual report on Global Water Treatment Chemicals Market.