Global Boiler Water Treatment Chemicals Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The boiler water treatment chemicals market is expected to expand significantly with a CAGR of 5.42% during the forecast period (2018 - 2023). The Asia-Pacific region is estimated to lead the market owing to its rapid growth in the power generation and process industries. One of the major drivers for this market is the increase in the demand from fast-growing economies, like India and China.
Power Industry Dominates the Market
The power industry has the largest application in this market. The shift in the power industry to more cost-effective methods, especially in developed countries, is expected to drive the demand for these chemicals. In Asia-Pacific and South East Asia, the maximum growth of thermal power plants is expected. The market growth will be largely dependent on the demand coming from India and China. Moreover, in Europe, Germany has announced plans to shift from nuclear power plants to the next available cost-effective solution, i.e. thermal power. These changes are expected to drive the market and increase the demand for boiler water treatment chemicals.
Scale Inhibitors Hold the Largest Market Share
In 2017, the scale inhibitors segment accounted for the largest share of about 19% of the total market. It is also expected to be the fastest growing segment. Scale inhibitors are widely used in various industries, such as oil & gas, power generation, textile, and food processing. Globally, around 1,500 coal plants are under construction or are under various stages of planning. In the oil & gas industry, the total net addition of distillation capacity is expected to grow with the largest capacity expansion in Asia and the Middle East regions. Such growth in the end-user industries, coupled with an increasing focus to treat water before releasing, is expected to drive the market for scale inhibitors.
Asia-Pacific to Lead the Market
Asia-Pacific has the largest market share of approximately 33% of the global market. This is due to the consistent economic growth in the emerging economies, such as India, China, Indonesia, Japan, South Korea, and Malaysia. The demand and market growth in the power, manufacturing, and industrial sectors is increasing, which, in turn, is boosting the demand for boiler water treatment systems and chemicals. As the market is stagnated in developed countries, many industries are being established in the fast-growing economies, like India & China. This is expected to ensure that the demand for boiler water treatment chemicals will remain high.
Key Developments in the Market
March 2018: Kurita Water Industries Ltd announced that the company has started selling a new version of Cetamine, a water treatment chemical for middle and high pressure boilers.
The major players include - SUEZ ENVIRONMENT, ECOLAB, BASF SE, SOLENIS INTERNATIONAL LP, DOWDUPONT, and KEMIRA OYJ, amongst others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To identify the countries that are 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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