Dublin, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The "Cooling Water Treatment Chemicals Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.
The cooling water treatment chemicals market is projected to reach US$ 16,420.49 million by 2028 from US$ 11,850.20 million in 2022. It is expected to grow at a CAGR of 5.6% during 2022-2028.
The cooling water treatment chemicals market is driven by increasing government regulations on water conservation and wastewater management, coupled with the increased use of cooling water treatment in industrial applications. Moreover, the surging demand for cooling water treatment chemicals in the power industry, and the increasing number of nuclear plants, along with the need to maintain the existing plants, are bolstering the market growth.
Rapid urbanization, economic improvement, and industrial expansion have resulted in a tremendous demand for water worldwide. The consumption of freshwater is surging globally due to climate change and increased land usage, along with the surge in energy generation with population growth, which has resulted in water scarcity, requiring prompt consideration. Additionally, the rising costs of water are rerouting the focus of industries on water recycling and reuse.
Thus, the adoption of cooling water treatment chemicals is high in industries such as oil & gas, pulp & paper, and electric power generation. Efforts taken by these industries to recycle and reuse water for industrial applications to save water are bolstering the demand for different cooling water treatment chemicals, thereby boosting the market growth.
Based on type, the global cooling water treatment chemicals market is segmented into corrosion inhibitor, scale inhibitor, biocide, and others. In 2021, the scale inhibitor segment accounted for the largest revenue share, and the corrosion inhibitor segment is expected to account for the highest CAGR during the forecast period. Based on end-use industry, the global cooling water treatment chemicals market is segmented into power; steel, mining, and metallurgy; petrochemicals and oil & gas; food & beverages; textile; and others. In 2021, the power industry segment accounted for the largest market share.
Market Dynamics
Market Drivers
- Growing Demand from Power Industry
- Growing Emphasis on Water Recycling and Reuse
Market Restraints
- Surging Preference for Chlorine Alternatives
Market Opportunities
- Increasing Popularity of Zero Liquid Discharge
Future Trends
- Shifting Focus Toward Green Chemicals
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Cooling Water Treatment Chemicals Market Landscape
5. Cooling Water Treatment Chemicals Market - Key Industry Dynamics
6. Cooling Water Treatment Chemicals - Global Market Analysis
7. Cooling Water Treatment Chemicals Market Analysis - By Type
8. Cooling Water Treatment Chemicals Market Analysis - By End Use
9. Cooling Water Treatment Chemicals Market - Geographic Analysis
10. Industry Landscape
11. Company Profiles
Companies Mentioned
- Accepta
- Albemarle Corporation
- Buckman
- Chemtex Speciality Limited
- ChemTreat, Inc.
- DuBois Chemicals
- Ecolab
- Veolia Water Technologies
- Kemira Oyj
- Kurita Water Industries LTD
For more information about this report visit https://www.researchandmarkets.com/r/7fmzva
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