Cooling Water Treatment Chemicals Market - Key Players & Growth Strategies Adopted by Them
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.
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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.
Key Segments Profiled in the Cooling Water Treatment Chemicals Market 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
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.
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