Europe Cooling Water Treatment Chemicals Market to 2027 - Regional Analysis and Forecasts by Type ; End-User Industry and Country
NEW YORK, April 22, 2020 /PRNewswire/ --
The European cooling water treatment chemicals market was valued at US$ 3,564.4 million in 2018 and is projected to reach US$ 6,012.0 million by 2027; it is expected to grow at a CAGR of 6.0% during 2019–2027.
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Cooling water treatment chemicals help remove unwanted harmful bacteria from the cooling systems.These chemicals are mainly used for protecting the system from damage caused by corrosion, scale formation, and fouling as well as for controlling the growth of harmful bacteria.
Thus, their use leads to increased efficiency and safety of the devices.Further, these chemicals also lead to the reduction in energy consumption by increasing the pace of cleaning.
Polyphosphates, chromates, nitrites, surfactants, zeolites, and orthophosphate are a few examples of cooling water treatment chemicals that are used in industries such as power, oil & gas, steel and metal, sugar, and textile.
Europe is projected to register fast growth during the forecast period.Rapidly growing population and urbanization, coupled with changing lifestyles, has resulted in the rise in per capita power consumption in this region.
Thus, the increased demand for electricity in European countries, in turn, has boosted the demand for cooling water treatment chemicals in the power industry. An expected increase in mine output and a continued emphasis on wastewater remediation would also add to the cooling water treatment chemicals demand in the coming years.
The European cooling water treatment chemicals market has been segmented on the basis of type in to corrosion inhibitors, scale inhibitor, biocides, and others.The scale inhibitors segment holds the largest share of the market in Europe, while the corrosion inhibitor segment is estimated to register the highest CAGR in the market during the forecast period.
Scale deposits are formed by precipitation and crystal development at a surface that is in contact with water.Calcium carbonate, calcium sulfate, and calcium and magnesium silicate are the contaminants generated in cooling water systems, and they may cause the loss of process effectiveness and production output.
Scale inhibitors are specially designed to control the deposition of these contaminants in industrial wastewater systems, thereby protecting the degradation of cooling water systems and increasing operational efficiency.
Based on country, the European cooling water treatment chemicals market has been segmented into the Germany, France, Italy, UK, and Rest of Europe.Germany holds the largest share of the Europe cooling water treatment chemicals market, which is followed by the UK.
The steel, mining & metallurgy, petrochemicals, oil & gas, food & beverages, and textile industries dominate the demand for cooling water treatment chemicals in the European market since the past few years.
A few of the players catering to the European cooling water treatment chemicals market include Accepta, Albemarle Corporation, Buckman, BWA Water Additives, Chemtex Speciality Limited, Ecolab, Kemira Oyj, and Veolia Water Technologies.
The overall European cooling water treatment chemicals market size has been derived in accordance to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the cooling water treatment chemicals market.
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