India Cooling Water Treatment Chemicals Market - Segmented by Type, Chemistry, End-User Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The India cooling water treatment chemicals market was valued at USD 99.63 million in 2017. This market is expected to reach USD 160.08 million by 2023, recording an estimated CAGR of 8.34% over the forecast period, 2018 to 2023. Corrosion inhibitors are expected to remain the largest segment, by type. Power industry is estimated to remain the largest end-user industry, in terms of revenue contribution to the market, during the forecast period.
Increasing Demand for Power Driving the Market
The highest single use of cooling water treatment chemicals lies in the treatment of cooling water in power generation. For power generation and process facilities, cooling water treatment is often the most critical aspect. Overall cooling of various process fluids is directly tied to a plant’s essential operation. As of January 2018, India registered as the third-largest producer and fourth-largest consumer of electricity in the world, with an installed capacity of 334.4 GW. The country also has the fifth-largest installed capacity in the world. Power consumption in the country is estimated to increase from 1160.1 TWh, in 2016, to 1,894.7 TWh, in 2022.
Power Industry to Dominate the Market
The power industry is the major consumer of cooling water chemicals, as this industry consumes the major amount of water for industrial purposes. Power industries, such as thermal and nuclear plants, often use seawater for cooling and are equipped with anti-corrosion heat exchange equipment. To maximize the heat transfer efficiency in these heat exchange equipment, the need for cooling water treatment chemicals is rising, particularly in open-recirculating (in cooling towers), closed-loop, and once-through systems. The overall power capacity in India, at the end of 2017, was 326,841.82 MW, of which almost 65% was coal based. These factors are expected to transform the power industry into the major end-user industry in the market, during the forecast period 2018-2023.
Major Key Players: Ion Exchange (India) Ltd, Nalco Ecolab, Thermax, Suez International, and Chembond, among others.
Reasons to Purchase the Report
To understand the impact of dynamics of end-user industries on the market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
To understand the dominating chemistry in the market.
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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