Cooling Water Treatment Chemicals Market to Garner USD 16,420.49 million by 2028 | 5.6% CAGR

The cooling water treatment chemicals market is projected to reach US$ 16,420.49 million by 2028 from US$ 11,850.20 million in 2022. It is expected to grow at a CAGR of 5.6% during 2022-2028. The continuous growth of industries such as oil & gas, food & beverages, power, and chemicals bolsters the demand for cooling water treatment chemicals, as water is required in almost every manufacturing process. Stringent regulatory requirements pertaining to wastewater disposal from industrial sources boost the demand for these chemicals in the abovementioned industries. Clean water is an essential component for electricity generation.

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Accepta, Albemarle Corporation, Buckman, Chemtex Speciality Limited, ChemTreat, Inc., DuBois Chemicals, Ecolab, Veolia Water Technologies, Kemira Oyj, and Kurita Water Industries LTD are the key players operating in the global cooling water treatment chemicals market.

As the rapidly growing population, urbanization, and changing lifestyles have triggered per capita power consumption, power generation activities have also been ramped up across the world through the establishment of new power generation plants, and the expansion and upgrading of existing power plants. Furthermore, the rapid growth in the food and beverage industry has led to the increasing installation of cooling water treatment plants. Thus, the flourishment of the power and food & beverages industries is contributing to the growth of the cooling water treatment chemicals market.

Cooling water treatment chemicals are increasingly being used as corrosion inhibitors, scale inhibitors, and biocides owing to the surging awareness about water pollution and the subsequent need for water recycling to reduce the dependence on the shrinking sources of fresh water, which is expected to propel the cooling water treatment chemicals market growth during the forecast period.

Impact of COVID-19 Pandemic on the Cooling Water Treatment Chemicals Market

The COVID-19 pandemic initially affected the global cooling water treatment chemicals market growth due to the shutdown of manufacturing units, shortage of laborers, disruption of supply chains, and instabilities in financial conditions. The cooling water treatment chemicals business is a part of the chemicals industry. Economic slowdown caused by the COVID-19 pandemic led to deceleration of the progress of this industry in 2020, restraining the demand for cooling water treatment chemicals.

The report includes the segmentation of the cooling water treatment chemicals market as follows:

The cooling water treatment chemicals market, based on type, is segmented into corrosion inhibitor, scale inhibitor, biocide, and others. In terms of end-use industry, the market is segmented into power industry; steel, mining, and metallurgy; petrochemicals and oil & gas; food & beverages; textile; and others. The cooling water treatment chemicals market, by is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Mexico, and Canada.

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