The global Cooling Water Treatment Chemicals Market will likely reach a market value of USD 12,614 Million in 2023 and is expected to accumulate a market value of USD 22,589.75 Million by registering a CAGR of 6% in the forecast period 2023-2033. The growth of the cooling water treatment chemicals market can be attributed to the increasing adoption of the same in numerous end-user industries.
the market for cooling water treatment chemicals registered a CAGR of 4% in the historical period 2018 to 2022.
The growing number of atomic energy plants worldwide and efforts to maintain existing plants would further trigger the use of cooling water treatment chemicals in the coming years. Thus, the continuous growth of the power generation industry, especially in developing countries such as India and China, is bolstering the growth of the cooling water treatment chemicals market.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 12,614 Million |
| Anticipated Forecast Value (2033) | USD 22,589 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
According to market research and competitive intelligence provider Future Market Insights- the market for cooling water treatment chemicals reflected a value CAGR of 4% during the historical period, 2018 to 2022.
The COVID-19 pandemic affected the market for cooling water treatment chemicals market owing to nationwide lockdowns across the globe. This led to a reduction in demand for cooling water treatments due to the non-functioning of the end-user industries.
The power industry is the largest consumer of cooling water treatment chemicals, owing to the high-water requirement of the industry and the need to preserve freshwater resources. Power industries, such as thermal and nuclear plants, often use seawater for cooling and are equipped with anti-corrosion heat exchange equipment.
The demand for cooling water treatment chemicals is increasing, particularly in open-recirculating (in cooling towers), closed-loop, and once-thru systems, in order to maximize the heat transfer efficiency in the heat exchange equipment.
The increasing number of nuclear plants across the world, coupled with the need to maintain the existing plants, is expected to augment the usage of cooling water treatment chemicals. Thus, the market for cooling water treatment chemicals is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
End-use industries favoring the growth of the Cooling Water Treatment Chemicals 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.
They also help reduce energy consumption by increasing the pace of cleaning. Prominent players such as Accepta, Albemarle Corporation, Buckman, and Chemtex Speciality Limited offer a large variety of cooling water treatment chemicals. There has been a growing trend toward the reuse and recycling of water, which is likely to offer new opportunities to cooling water treatment chemicals manufacturers during the forecast period.
The power industry significantly driving the growth of the Cooling Water Treatment Chemicals Market
Growing demand from the power industry is boosting the cooling water treatment chemicals market. The power industry is flourishing with population growth and urbanization. Increasing investments by various private companies and governments in building and maintaining energy infrastructure are further bolstering the growth of the market. The electrification of various operations across major industries is expected to double the electricity demand by 2050.
The power industry, including thermal and atomic plants, requires water in huge quantities. These industries frequently use seawater or lake water for cooling the heat exchange equipment.
Cooling water treatment chemicals are widely used to lower the dependency of such industries on freshwater resources. These chemicals are gaining attention, especially in open-recirculating, closed-loop, and once-through cooling frameworks, as they boost the heat transfer efficiency in heat-exchange equipment.
Contamination of biological sources hampering the market growth
Although the use of cooling water treatment chemicals is extensively increasing in different end-user industries, the problems attached to the same are causing obstacles to the growth of the market. Contamination of biological sources is a key issue faced by the cooling water treatment chemicals market. In addition, corrosion and excessive water blowdown are other factors hampering the growth of the market.
Technologically advanced manufacturing sectors shaping the landscape for cooling water treatment chemical market in the Asia Pacific
In 2022, Asia Pacific held a significant share of the global cooling water treatment chemicals market. The region is also estimated to register the highest CAGR in the market during the forecast period. The market in Asia Pacific is further segmented into China, India, Australia, Japan, and the Rest of Asia Pacific. Many small- and large-scale manufacturing companies have a presence in India, China, and Japan.
China accounted for the largest cooling water treatment chemicals market, which can be attributed to the vast power industry in the country. The manufacturing sector in Asia Pacific is rapidly adopting state-of-the-art technologies and processes, which are considered innovation accelerators. All these factors contribute to the cooling water treatment chemicals market growth in the region. Thus, Asia Pacific is expected to hold a 45% market share for cooling water treatment chemicals in 2022.
Development of end-user industries boosting sales of cooling water treatment chemicals in North America
North American water treatment chemicals market is expected to grow by 4.5% annually in the forecast period and reach USD 17 billion by 2033, owing to the rising concerns among people over the growing incidence of waterborne diseases, the growing popularity of desalination across the world, and stringent government regulations on the level of pollutants in water and wastewater.
The cooling water treatment chemicals market in North America is projected to grow at a faster pace during the forecast period. Factors such as a rapidly growing population and urbanization, coupled with changing lifestyles, have resulted in increasing per capita power consumption.
Thus, it has fueled the demand for electricity in North American countries, which, in turn, has increased the demand for cooling water treatment chemicals in the power industry. An expected increase in mine output and a continued emphasis on wastewater remediation will also propel the demand for cooling water treatment chemicals.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Development of 700 coal plants bolstering demand for Cooling Water Treatment Chemicals in China
Asia-Pacific dominated the demand for cooling water treatment chemicals and is projected to witness the highest growth over the forecast period. In Asia-Pacific, China stands to be the largest consumer of cooling water treatment chemicals owing to huge demand from its power industry. Besides, Chinese companies have also planned to build more than 700 new coal plants in China.
Furthermore, the Thai power industry is in a bad condition with a severe gap between demand and supply of power. To counter the current situation, Thailand has planned the incorporation of the Power Development Plan 2015-36. Thailand has an effusively integrated textile industry with its numerous spinning, weaving, and garment enterprises.
The country is the 11th largest supplier of textiles and garments in the world. Thailand has more than 2,000 textile manufacturers, most of them situated in the eastern part of the country. Thus, all such trends are likely to drive the growth of the studied market in the region over the forecast period.
End-user industries boosting the growth of cooling water treatment chemicals in the USA
The cooling water treatment chemicals market in North America is further segmented into the USA, Canada, and Mexico. The USA held the largest share of the cooling water treatment chemicals market in North America, followed by Canada.
The presence of propelling small and large-scale manufacturing companies in the region such as Accepta, Albemarle Corporation, and others is expected to drive the growth of the cooling water treatment chemicals market in North America.
The demand for cooling water treatment chemicals has increased in industries such as steel, mining & metallurgy, petrochemicals, oil &gas, food & beverages, and textile over the past few years.
Demand for Sustainable duration of food and beverage products increasing use of Cooling Water Treatment Chemicals
Based on end-user industry the cooling water treatment chemicals market is segmented into Power Steel, Mining, & Metallurgy, Petrochemicals, Oil & Gas, Food & Beverages, Textile, and Others
The food and beverage industry is expected to possess a 30% market share in the cooling water treatment chemicals market. This is owing to the increasing establishment of small and medium-scale industries present across the globe.
In addition, the importance of food safety standards set by the Food and Drug Administration along with the demand for a long and sustainable life of food and beverage products is increasing the use of cooling water treatment chemicals in food and beverage industries.
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
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 12,614 Million |
| Market Value in 2033 | USD 22,589.75 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Accepta; Albemarle Corporation; Buckman; Chemtex Specialty Limited; ChemTreat Inc.; DuBios Chemicals; Ecolab; Veolia Water Technologies; Kemira Oyj; Kurita Water Industries Ltd |
| Customization | Available Upon Request |
From 2018 to 2022, the cooling water treatment chemicals market grew at a CAGR of 4%
The global cooling water treatment chemicals market is expected to grow with a 6% CAGR from 2023 to 2033
As of 2023, the cooling water treatment chemicals market is expected to accumulate USD 12,614 Million.
As of 2033, the cooling water treatment chemicals market is expected to reach USD 22,589.75 Million
The food and beverage industry is expected to possess a 30% market share in the cooling water treatment chemicals market.
The North American cooling water treatment chemicals market is expected to grow by 4.5% annually in the forecast period and reach USD 17 Billion by 2033
Asia Pacific is expected to hold a 45% market share for cooling water treatment chemicals in 2023.
| Expected Market Value in 2024 | USD 4.82 billion |
|---|---|
| Projected Forecast Value in 2034 | USD 8.41 billion |
| Anticipated Growth Rate from 2024 to 2034 | 5.72% |
| Estimated Market Size (2024E) | USD 69.73 billion |
|---|---|
| Projected Industry Value (2034F) | USD 137.17 billion |
| Value-based CAGR (2024 to 2034) | 7% |
| Market Size, 2023 | USD 65,164 million |
|---|---|
| Market Size, 2033 | USD 1,28,230 million |
| Value CAGR (2023 to 2033) | 6.2% |
| Expected Market Value (2023) | USD 43.32 billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 81 billion |
| Projected CAGR (2023 to 2033) | 6.4% |
Explore Industrial and Institutional Chemicals Insights
View Reports
Cooling Water Treatment Chemicals Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
