According to the recent study the cooling water treatment chemical market is projected to reach an estimated $11.5 billion by 2028 from $8.8 billion in 2023, at a CAGR of 5.5% from 2023 to 2028. Growth in this market is primarily driven by increasing demand from various end user industries, such as power, oil and gas and food and beverage industry and introduction of sustainability mandates related to water and wastewater treatment.
A more than 150-page report is developed to understand trends, opportunities and forecast in cooling water treatment chemical market by product (corrosion inhibitor, scale inhibitor, and biocide), end use industry (power industry, petrochemical, food and beverages, and textile), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Scale inhibitors market is expected to remain the largest segment during the forecast period.”
Based on product, the cooling water treatment chemical market is segmented into corrosion inhibitor, scale inhibitor, and biocide. Lucintel forecasts that the scale inhibitors market is expected to remain the largest segment as they help in preventing scale formation and internal corrosion of equipment.
“Within the cooling water treatment chemical market, the power industry segment is expected to remain the largest end use industry”
Based on end use industry the power industry segment is expected to witness the highest growth over the forecast period due to increase in number of nuclear power plants globally along with growing awareness about the need for sustainable practices in the industry.
“Asia pacific will dominate the cooling water treatment chemical market in near future”
APAC will remain the largest region due to the rapid industrialization, depleting freshwater resources, and growing government investment in water and waste water treatments.
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Major players of cooling water treatment chemical market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Suez, Kemira, Solenis, DuPont are among the major cooling water treatment chemical providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/cooling-water-treatment-chemical-market.aspx or [email protected]
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