HYDERABAD, India, August 18, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the cooling water treatment chemicals market. The report titled, "Global Cooling Water Treatment Chemicals Market - Segmented by Type, End-User Industry, and Geography - Trends and Forecasts (2015 - 2020) ," discusses the current landscape and outlook of the said market.
The global cooling water treatment chemicals market was valued at USD 5,385.61 million in 2015 and is projected to reach USD 7,481.93 million by 2020, at a compound annual growth rate (CAGR) of 6.80% during the forecast period (2015 to 2020).
Polyphosphates, anionic polymers and other chemicals such as, oxidizing biocides, biodispersants are widely used as cooling water treatment chemicals. These chemicals remove impurities from water used in cooling towers. As cooling towers are engaged across numerous industries to cool various process fluids, they are vulnerable to damage caused by deposition of minerals, which are present in cooling water. Industries that classify as major consumers of the cooling water treatment chemicals include power industry, institutional industry and the food & beverage industry; the remaining industries can easily be classified as small consumers.
The global cooling water treatment chemicals market is segmented based on type into scale inhibitors (organic and inorganic phosphates), corrosion inhibitors (steel and copper based corrosion inhibitors), biocides (oxidizing biocides, non-oxidizing biocides and bio-dispersants), and others. Based on end-user industry, the market is segmented into power; steel, mining & metallurgy; refinery &petrochemicals; oil & gas; textiles & dyes; food & beverage; 'Others' (including paper & pulp, wastewater treatment, chemical processing and desalination plants). Based on geography, the market is segmented into North America (United States, Canada, Mexico, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), South America (Brazil, Argentina, Rest of South America), and Middle-East and Africa (Saudi Arabia, South Africa and Rest of Middle-East & Africa).
The market for cooling water treatment has grown over the past few years and is driven by factors such as changing legal scenarios in Asia-Pacific, environmental regulations concerning wastewater discharge and stringent laws, put in place by governments, to check industrial wastewater disposal. With rising environmental awareness and limited availability of fresh water in the Middle East, companies are looking for ways to decrease the consumption of water.
Scale inhibitors, corrosion inhibitors and biocides are the major segments accounting for nearly 96% share of the global cooling water treatment chemicals market. Scale inhibitors occupy a share of 43.73% of the global market. Corrosion inhibitors represent the second most important cooling water treatment chemical, accounting for a share of 42.29% of the global cooling water treatment chemicals market in 2015.
Asia-Pacific is expected to be the fastest-growing market. In terms of potential, countries such as China, India, Thailand and Indonesia are the most lucrative markets. Economic growth, industrialization, rising environmental awareness and government support are factors that contribute to the attractiveness of the market in the region. Other significant potential markets include Russia, Spain in Europe and the UAE in the Middle East. Governments are pushing reduction of wastewater discharge, along with the need for fresh water and sustainable growth approach adopted by industries drive growth in this market.
Some of the major players in the market are BASF SE (Germany), Dow Chemical Co. (U.S.), Akzo Nobel NV (Netherlands), Ecolab Inc. (U.S.), GE Water and Process Technologies (U.S.), Kemira OYJ (Finland), among others.
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