CLEVELAND, Sept. 11, 2019 /PRNewswire/ -- Global demand for corrosion and scale inhibitors in water treatment is projected to rise 5.5% per year to $12.1 billion in 2023. The primary factors promoting growth include:
- expanding manufacturing and industrial activity in the Asia/Pacific region and other developing areas
- increasing use of water treatment equipment in all major markets
Corrosion and scale inhibitors are necessary in essentially every market for water treatment chemicals, although they may carry their own environmental concerns. Older, more hazardous corrosion and scale inhibitors are gradually being replaced with more sophisticated varieties in countries with environmental regulations related to the use of these chemicals. Chemical corrosion and scale inhibitors compete with alternative forms of corrosion control, but are often more cost-effective.
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In industrializing regions, the best opportunities for growth will be seen in less expensive product categories such as phosphonates. In addition to providing multifunctionality (thus providing savings to the user), phosphonates lack some of the troubling environmental characteristics associated with nitrites and other products.
Please contact Corinne Gangloff for an interview with the analyst Emily Park.
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SOURCE The Freedonia Group