Growing Demand from Power Industry
The highest single use of water is cooling in thermal power generation. For power generation and process facilities, cooling water treatment is often a plant’s most critical aspect. For many countries, it was identified that the cooling water treatment market has a high correlation with the fossil fuel energy usage, and thereby, with power consumption. Even though fledgling renewables industry is proliferating, the scale of electricity produced by renewable resources is too small to satiate the growing demand. Hence, growth in the power sector is projected to drive the cooling water treatment chemicals market.
Power Industry – The Major Consumer of Cooling Water Treatment Chemicals
The power industry is the major consumer of cooling water chemicals due to their need for large quantities of cooling water. Power industries often use seawater for cooling and are equipped with anti-corrosion heat exchange equipment. They predominantly recycle the water and return it to the source. In the case of the water taken from dirty lakes, the returned water is cleaner than the intake water. In these industries, 99% of the water taken is returned, and less than one percent of the water is wasted in evaporation. This industry segment is expected to increase at a dynamic rate in the future, due to the growing power generation sector, particularly in developing regions. Due to the growing demand from the power industry from developing economies, the market for cooling water treatment chemicals is projected to grow during the forecast period.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is the third largest market for cooling water treatment chemicals and it is also estimated to be the fastest growing market in the forecast period. In terms of potential, countries, such as China, India, Thailand, and Indonesia, are lucrative for business growth. Economic growth, industrialization, rising environmental awareness, and government support are the major factors that contribute to the attractiveness of the market in the region. China is the largest and fastest growing market for water treatment chemicals in Asia-Pacific, with an expected CAGR of nearly 10% during the forecast period. The huge and fast-growing markets in China, coupled with government funding, are expected to be the driving factors for the aforementioned growth.
Major Players: BASF SE, Kemira, Ecolab, Kurita Water Industries Ltd, Suez, DowDuPont, and Albemarle Corporation, amongst others.
Reasons to purchase this report
- Analyzing the growing demand from power industry that is expected to drive the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Analyzing the end-user industry that is expected to dominate the market
- Detailed analysis of region that is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Accelerating Demand from Power and Industrial Applications
4.1.2 Conformance to Stringent Environmental Regulations
4.1.3 Growing Popularity of Zero Liquid Blowdown
4.2.1 Dearth of Awareness Regarding Cooling Water Treatment
4.2.2 Other Restraints
4.3.1 New and Efficient Technologies for Multi-Variable Monitoring
4.3.2 Shifting Focus towards the Usage of Green Chemicals
4.3.3 Use of Municipal Wastewater for Cooling Purposes
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Type
5.1.1 Scale Inhibitor
5.1.2 Corrosion Inhibitors
5.2 By End-user Industry
5.2.1 Power Industry
5.2.2 Steel, Mining, & Metallurgy
5.2.3 Petrochemicals and Oil & Gas
5.2.4 Food & Beverage
5.2.5 Textile & Dyes
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.4 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)
8.1 Accepta Ltd
8.2 Akzo Nobel N.V.
8.3 Albemarle Corporation
8.4 Avista Technologies, Inc.
8.5 BASF SE
8.6 Buckman Laboratories International, Inc.
8.7 BWA Water Additives
8.8 Cabot Corporation
8.9 Chemtex Speciality Limited
8.10 Chemtrade Logistics Income Fund
8.11 ChemTreat, Inc. (Danaher Corporation)
8.13 DuBois Chemicals, Inc.
8.15 ICL-IP Terneuzen B.V.
8.17 Kurita Water Industries Ltd
8.21 Thermax Global
8.22 Veolia Water Technologies
*(List Not Exhaustive)
**Subject to availability on public domain
- Accepta Ltd
- Akzo Nobel N.V.
- Albemarle Corporation
- Avista Technologies Inc.
- BASF SE
- Buckman Laboratories International Inc.
- BWA Water Additives
- Cabot Corporation
- Chemtex Speciality Limited
- Chemtrade Logistics Income Fund
- ChemTreat Inc. (Danaher Corporation)
- DuBois Chemicals Inc.
- ICL-IP Terneuzen B.V.
- Kurita Water Industries Ltd
- Thermax Global
- Veolia Water Technologies