What is the current size of the Boiler Water Treatment Chemicals market?
The global boiler water treatment chemicals market size was US$ 4.1 billion in 2021. The global boiler water treatment chemicals market is forecast to grow to US$ 7.30 billion by 2030, registering a compound annual growth rate (CAGR) of 8.9% during the forecast period from 2022 to 2030.
Chemicals for boiler water treatment are used to purify boiler feed water by removing dissolved gases, particles, and solids contaminants. The presence of contaminants in boiler water can degrade material and create corrosion of inner metal surfaces. Thus, treatment is necessary to avoid such events.
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COVID-19 Scenario Analysis
The temporary shutdown of energy and power sectors has significantly declined the growth of the global boiler water treatment chemicals market. Boiler plays a major role in these industries. Thus, a brief halt in boiler operations during the COVID-19 epidemic owing to inspection and maintenance delays has hampered the growth of the boiler water treatment industry.
However, the boiler water treatment chemicals market may gain traction due to the growing power sectors in emerging countries as a result of the COVID-19 scenario.
Factors Influencing the Market
The increasing demand for boilers from power and energy-based industries is forecast to drive the growth of the global boiler water treatment chemicals market. The expansion of the chemical sector will raise demand for boilers, resulting in a future expansion of the boiler water treatment chemicals market.
Furthermore, the deteriorating quality of boiler feed water will create a potential scope for the global boiler water treatment chemicals market during the study period.
The rise of the market is also driven by rapid urbanization and an ever-increasing global population. As a result, there will be a huge need for electricity, which will boost the growth of the global boiler water treatment chemicals market.
Furthermore, severe environmental regulations implemented by various governments for the usage of boilers may limit the growth of the boiler water treatment chemicals market.
Technological improvements to improve the features of boiler water treatment chemicals such as scale inhibitors, corrosion inhibitors, and heat-effectiveness will fuel the growth of the industry.
Regional Analysis
The Asia Pacific is forecast to hold the highest share in the global boiler water treatment chemicals market due to a strong industrial base in the region. In addition, rising demand for power, growing urbanization, and industrialization will contribute to the growth of the market. In addition, the Asia-Pacific boiler water treatment chemicals market will witness favorable growth opportunities due to the increasing government initiatives and regulations intending to draw investments.
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Market Segmentation
The global boiler water treatment chemicals market segmentation focuses on Type, Chemistry, End-User, and Region.
By Type
- Scale inhibitor
- Corrosion inhibitor
- Coagulant & Flocculant
- pH boosters
- Oxygen Scavengers
- Others
By Chemistry
- Basic Chemicals
- Blended/ Speciality Chemicals
By End-User
- Power Generation
- Steel and Metal Industry
- Oil Refinery
- Chemicals and Petrochemicals
- Textile and Dye mill Industry
- Sugar mill
- Pulp and Paper
- Food and Beverages
- Pharmaceutical
- Institutional
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
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- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitors in the Market
- AkzoNobel
- Veolia International
- BASF SE
- The Dow Chemical Company
- Chemtex Specialty Limited
- Kemira Oyj
- Ecolab Inc.
- GE Water and Process Technologies
- Thermax Limited
- Avista Technologies Inc.
- Other Prominent Players
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