Rising Demand For Boiler Water Treatment In Chemical Sector To Augment Global Growth
According to the research study, the global boiler water treatment market is expected to register a 3.0% CAGR between 2016 and 2020. The rising demand for electricity and the growing need to reduce maintenance and downtime costs are some of the key factors estimated to fuel the growth of the global boiler water treatment market in the coming years.
On the basis of end use, the global boiler water treatment market has been classified into refining and petrochemicals, metals, power, food and beverage, paper, chemical, and textile. In 2015, the chemical industry segment accounted for a key share in the global market and is anticipated to remain in the leading position throughout the forecast period. The rising demand for diverse chemicals in the form of raw materials by the manufacturing sector and the reducing prices of chemicals are some of the key factors fuelling the growth of this segment.
From a geographical perspective, Asia Pacific is projected to lead the global boiler water treatment market throughout the forecast period and account for a key share in the market. High growth of this region can be attributed to the growing focus on infrastructure development and the growing demand for electricity across the globe. In addition, the expansion of existing refineries in the petrochemical and refining industry is anticipated to encourage the growth of the global boiler water treatment market. In this region, India, Japan, Taiwan, China, South Korea, and Australia are expected to contribute towards the development of the market.
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The global boiler water treatment market is fragmented in nature with a presence of a large number of players operating in it. The prominent players in the market have a promising product portfolio and are making efforts to expand it in order to attain a dominant position in the global market. Additionally, the rising focus on research and development activities is expected to contribute extensively towards the development of the overall market.
The leading players operating in the global boiler water treatment market include Veolia Water Technologies, ChemTreat, GE Power, Nalco, and Lenntech. Some of the other key players included in the research report are B&V Group (SUEZ), BASF, Clarity Water Technologies, Chem-Aqua, Garratt-Callahan, AkzoNobel, Kurita Water Industries, and Dew Speciality Chemical.
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