The cooling water treatment chemicals market in APAC was valued at US$ 5,395.0 million in 2018 and is projected to reach US$ 8,873.6 million by2027; it is expected to grow at a CAGR of 5.7% from 2019 to 2027
Cooling water treatment chemicals help remove the unwanted harmful bacteria from cooling systems.They are mainly used to protect the systems from corrosion-led damage and control the scale formation and fouling as well as the growth of harmful bacteria.
Through their functioning, these chemicals increase the efficiency and safety system operations.Further, they lower energy consumption by increasing the pace of cleaning.
Polyphosphates, chromates, nitrites, surfactants, zeolites, and orthophosphate are a few examples of cooling water treatment chemicals. They are used in industries such as power, oil & gas, metal and steel, sugar, and textile.
Factors such as rapidly growing population and urbanization, coupled with changing lifestyles, have resulted in increasing per capita power consumption in Asia Pacific.This has fueled the demand for electricity in the countries in this region, which, in turn, has boosted the requirement of cooling water treatment chemicals in the power industry.
Expectations regarding gaining increased mine output and continued emphasis on wastewater remediation would also boost the demand for cooling water treatment chemicals in the coming years.
The cooling water treatment chemicals market in Asia Pacific has been segmented on the basis of type in corrosion inhibitor, scale inhibitor, and biocide.The scale inhibitor segment holds the largest share of the market in this region, while the corrosion inhibitor segment is estimated to report the highest CAGR in it during the forecast period.
Scale deposits are formed by precipitation and crystal development at a surface that is in contact with water for a prolonged period.Calcium carbonate, calcium sulfate, and calcium and magnesium silicate are the types of scales generated in cooling water systems.
The assortment of these contaminants in cooling water systems can interfere with heat transfer, increase erosion rates, limit water stream, and cause process effectiveness and production loss. Scale inhibitors are specially designed to control the deposition of these contaminants in industrial wastewater systems, thereby protecting their degradation and increasing their operational efficiency.
The cooling water treatment chemicals market in Asia Pacific is sub-segmented into Australia, China, India, Japan, South Korea, and Rest of APAC.China holds the largest share in the cooling water treatment chemicals market in Asia Pacific, which is followed by Japan.
The presence of small- and large-scale manufacturing companies such as Accepta, and Albemarle Corporation, in the region has been supporting the market growth. Moreover, the demand for cooling water treatment chemicals has increased from the steel, mining & metallurgy, petrochemicals, oil & gas, food & beverages, and textile industries over the past few years.
Accepta, Albemarle Corporation, Buckman, BWA Water Additives, Chemtex Speciality Limited, Kemira Oyj, and Veolia Water Technologies are among the players operating in the cooling water treatment chemicals market in Asia Pacific.
The overall cooling water treatment chemicals market size in Asia Pacific 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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