NEW YORK, Oct. 25, 2016 /PRNewswire/ -- The China antiscalant market is expected to reach USD 555.6 million by 2024, according to a new report by Grand View Research, Inc. Antiscalants are used in applications where water with heavy metals comes in contact with surfaces causing scales, thereby, reducing the overall efficiency of the equipment and damaging the manufactured goods.
The increasing use of antiscalants in coal gasification, power generation, and chemical plants to maintain efficient functioning of machinery will fuel industry expansion. Moreover, development of these end-use sectors on account of rapid industrialization and urbanization is expected to contribute tremendously to the growth of the market over the forecast period.
Demand for antiscalants was highest in chemicals and contributed to 48.5% of the revenues generated in 2015. Increasing demand for pure and clean water in numerous chemical manufacturing processes to obtain products of high quality is expected to augment the requirement of antiscalants over the projected period.
Further key findings from the report suggest:
Increasing need for desalination of seawater, particularly from offshore oil & gas facilities, is projected to result in high demand for sulfonates owing to its high hardness and ability to dissolve calcium. The segment is expected to witness the fastest volume growth at a CAGR of 8.2% from 2016 to 2024.
Demand for antiscalants in power was 40 kilo tons in 2015 and is anticipated to witness significant growth over the forecast period. Increasing demand for electricity on account of rapid industrialization and urbanization is expected to result in high demand for these products.
Government initiatives to promote the growth of the manufacturing sector in the country to develop an export-oriented economy is supposed to result in drastically increasing the consumption of antiscalants. Moreover, growing usage of antiscalants in coal gasification and power sector applications is expected to propel industry expansion.
Rising demand for electricity in China will fuel growth over the forecast period. Continuous government support for eco-friendly and economical antiscalants products will stimulate market growth from 2016 to 2024.
Key participants in this market include Kemira, Henan Yuguan Chemical Technology, Zaozhuang Kerui Chemicals Co., Ltd, BASF SE, Shandong Great Lake New Material Co. Ltd., Nalco Water, and Avista Technologies. Companies have been focusing on increasing their footprint within the Chinese antiscalants industry through constant product innovation.
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