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Cooling Water Treatment Chemicals Market is expected to reach US$ 16,420.49 Million by 2028

The cooling water treatment chemicals market is foreseen to cross US$ 18.60 billion by 2030 | Share, trends, and growth analysis

By The Insight Partners

Rising Demand from End-Use Industries Bolsters Cooling Water Treatment Chemicals Market Growth

According to our latest study on “Cooling Water Treatment Chemicals Market Forecast to 2030 – Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type and End Use,” the cooling water treatment chemicals market size was valued at US$ 11.84 billion in 2022 and is expected to reach US$ 18.60 billion by 2030; it is estimated to register a CAGR of 5.8% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The continuous growth of industries such as oil & gas, food & beverages, power, and chemicals bolsters the demand for cooling water treatment chemicals, as water is required in almost every manufacturing process. Stringent regulatory requirements pertaining to wastewater disposal from industrial sources boost the demand for these chemicals in the abovementioned industries. Clean water is an essential component of electricity generation. As the rapidly growing population, urbanization, and changing lifestyles have triggered per capita power consumption, power generation activities have been ramped up across the world through the establishment of new power generation plants and the expansion and upgrading of existing power plants. Furthermore, the rapid growth in the food & beverages industry has led to the increasing installation of cooling water treatment plants. Thus, the flourishment of the power and food & beverages industries is contributing to the growth of the cooling water treatment chemicals market. These water treatment chemicals are increasingly being used as corrosion inhibitors, scale inhibitors, and biocides owing to the surging awareness about water pollution and the subsequent need for water recycling to reduce the dependence on the shrinking sources of fresh water. Thus, all the factors mentioned above are expected to propel the cooling water treatment chemicals market share from 2022 to 2030.

Cooling Water Treatment Chemicals Market Analysis – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00005626

The food & beverages industry requires water in raw material processing, production, and other processes. Water is an important element in all food processes; it is an ingredient for the preparation of beverages and food products, as well as the most important chemical for cleaning and sterilizing equipment and processing plants. The growing food & beverages industry is indirectly contributing to the cooling water treatment chemicals market growth. Synthetic substances are used in cooling water treatment in cooling towers to work at ideal proficiency. Additionally, the increasing use of petrochemical products such as plastics, rubbers, resins, synthetic fibers, adhesives, dyes, detergents, fossil fuels, pesticides, and petroleum-derived paints and coatings in multiple industries is expected to propel the growth of petrochemicals industry. This will propel the demand for water treatment chemicals as petrochemical industries have large water demands in their operations, such as distillation, extraction, washing processes, and cooling systems. There is also an increasing demand for cooling water treatment chemicals in the oil & gas industry, as water treatment chemicals are mainly used to treat wastewater produced as byproducts during oil and natural gas exploration and downstream petroleum refining processes. Water requirements in these industries are high, and they produce a large amount of wastewater, which requires appropriate processing for recycling. All these factors have raised the utilization of water treatment chemicals, including cooling water treatment chemicals. Additionally, strict government regulation concerning industrial and municipal wastewater treatment boosts the demand for these water treatment chemicals in petrochemicals and oil & gas industries.    

ChemTreat Inc, DuBois Chemicals Inc, Chemtex Speciality Ltd, Kurita Water Industries Ltd, Kemira Oyj, Ecolab Inc, Buckman Laboratories lnternational Inc, Albemarle Corp, Accepta Ltd, and Veolia Water Solutions & Technologies SA are among the players operating in the global cooling water treatment chemicals market. The market players focus on providing high-quality products to fulfill customer demand.

Impact of COVID-19 Pandemic on Cooling Water Treatment Chemicals Market

Before the onset of the COVID-19 pandemic, the cooling water treatment chemicals market was experiencing steady growth, driven by the increasing demand across various industries. The COVID-19 pandemic initially affected the global cooling water treatment chemicals market growth due to the shutdown of manufacturing units, shortage of laborers, disruption of supply chains, and instabilities in financial conditions. The economic slowdown caused by the COVID-19 pandemic led to a deceleration of the progress of this industry in 2020, restraining the demand for cooling water treatment chemicals.

However, businesses gained ground in late 2021 with relaxations in previously imposed social restrictions in various countries. The introduction of COVID-19 vaccines and mass vaccination campaigns by governments of different countries further eased situations, creating favorable conditions for business activities worldwide. This led to the revival of the food & beverages, oil & gas, textile, steel, and mining industries, which further triggered the demand for cooling water treatment chemicals.

The cooling water treatment chemicals market report includes the segmentation as follows:

Based on type, the cooling water treatment chemicals market is segmented into corrosion inhibitors, scale inhibitors, biocides, and others. In terms of end use, the market is divided into power; steel, mining, and metallurgy; petrochemicals, oil, and gas; food and beverages; textile; and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is sub-segmented into Brazil, Argentina, and the Rest of South & Central America. On the basis of geography, Asia Pacific emerged as the dominant player in the cooling water treatment chemicals market share, owing to several key factors that shaped the region’s rapid industrialization. Rapid growth in the production of steel, petrochemicals and oil & gas, food & beverages, and the textile industry is projected to bolster the demand for cooling water treatment systems in Asia Pacific. This further propels the demand for cooling water treatment chemicals. Asia Pacific has a well-developed steel industry. The petrochemicals and oil & gas industry in Asia Pacific is growing at a significant pace. This development is mainly attributed to the country's rising number of manufacturing industries.

Despite a slight slowdown in the food & beverages industry in Asia Pacific, food & beverage manufacturing remains one of the largest manufacturing sectors in the region. Food manufacturing is bigger than the automotive and industrial goods industries and contributes a major share of the Asia Pacific economy. In Asia Pacific, the textile industry plays an important role in the employment and growth of the region’s economy. The textile Industry of Asia Pacific depends on fabric manufacturing and yarns. These factors lead to a surge in demand for cooling water treatment chemicals in Asia Pacific.

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