Cooling Water Treatment Chemicals Size, Share, Demand & Trends by 2033
During the forecast period 2023-2033, the cooling
water treatment chemicals market is expected to grow at a value of 6%
CAGR, according to Future Market Insights. By the year 2033, the global market
for cooling water treatment chemicals is expected to rise up to a market
valuation of US$ 12,614 Million. Increasing demand from the power industry and
the food and beverage industry is a major driving factor for the market.
The food & beverages, oil & gas, power, and
textile industries are among the major end users of cooling water treatment
chemicals. Cooling water treatment chemicals are the chemical agents that help
remove harmful bacteria from cooling systems. It is mainly used to protect the
systems from corrosion, prevent and slow down the processes of scale formation
and fouling, and control the growth of harmful bacteria. Cooling water
treatment chemicals can contribute to the greater efficiency and safety of
high-pressure boilers, turbines, and cooling towers.
Corrosion inhibitors are the majorly used water
treatment chemicals in the cooling water treatment industry. The use of
corrosion inhibitors in cooling water systems improves efficiency of the
system, thus facilitating maximum heat transfer, improving process throughput,
and reducing the downtime for cleaning, helping the system to run for a longer
time. Although, the COVID-19 pandemic affected the demand for cooling water
treatment chemicals, the functioning of end user industries is expected to
create lucrative opportunities for the market.
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Corrosion inhibitors are designed to ensure metal
protection and prevent metal loss, which may lead to critical system failures
in recirculating water piping, process cooling equipment, and heat exchangers.
The wide application of cooling water chemical treatments in various end user
industries is increasing the adoption of the same. Furthermore, the
establishment of small and medium scale industries is favoring the growth of
cooling water treatment chemicals market.
Key Takeaways from the Market Study
- The
global cooling water treatment chemicals market is expected to grow with a
6% CAGR during 2023-2033.
- By
end use, the food and beverage industry is expected to possess 30% market
share for cooling water treatment chemicals market.
- North
America water treatment chemicals market is expected to grow by 4.5%
annually in the forecast period and reach U$ 17 Billion by 2033,
- Asia
Pacific is expected to hold 45% market share for cooling water treatment
chemicals in 2023.
“Increasing application of cooling water
treatment in end user industries that range from power industry to food and
beverage is positively influencing the demand for the market,” comments
a Future Market Insights analyst.
Competitive Landscape
Key players in the cooling water treatment chemicals
market are Accepta, Albemarle Corporation, Buckman, Chemtex Speciality Limited,
ChemTreat Inc., DuBios Chemicals, Ecolab, Veolia Water Technologies, Kemira Oyj
and Kurita Water Industries Ltd
- Albemarle
Corporation, a key company specializing in chemical production has
undertaken research to understand the changing nature of end user
industries and is manufacturing chemicals to treat water.
- DuBios
Chemicals, another key player in the cooling water treatment chemicals
market is focusing on providing cost efficient and sustainable solutions
with its customized equipment that will serve different end user
industries.
Key Segments Profiled in the Cooling Water
Treatment Chemicals Market Industry Survey
Type:
- Scale
Inhibitors
- Corrosion
Inhibitors
- Biocide
- Other
Types
End Use:
- Power
- Steel,
Mining, & Metallurgy
- Petrochemicals,
Oil & Gas
- Food
& Beverages
- Textile
- Others
Region:
- North
America
- Latin
America
- Europe
- Asia
Pacific
- Middle
East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
to be continued…!
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