Global Cooling Water Treatment Chemicals Market to Reach US$ 22,589.75 Million with 6% CAGR by 2033

Cooling Water Treatment Chemicals Market

According to Future Market Insights, the global cooling water treatment chemicals market is projected to witness a robust 6% Compound Annual Growth Rate (CAGR) during the forecast period from 2023 to 2033. By 2033, the market is anticipated to reach a substantial valuation of US$ 12,614 Million. This growth is attributed to the rising demand for these chemicals, primarily driven by the power industry and the food and beverage sector, signifying their vital role in maintaining efficient cooling systems and quality standards across various industrial segments.

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.

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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.

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.

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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

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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