Boiler Water Treatment Chemicals Global Market Report 2024

The global boiler water treatment chemicals market has grown rapidly in recent years. It will grow from $3.5 billion in 2023 to $3.9 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The expansion observed in the historic period can be ascribed to the impact of urbanization, the evolving requirements of the food and beverage industry, the growth in refineries, a heightened focus on industrial safety, and increasing concerns regarding water conservation.

The global boiler water treatment chemicals market is expected to see rapid growth in the next few years. It will grow to $5.9 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecast period can be attributed to an increased emphasis on sustainable practices, the global expansion of manufacturing, the rise in industrial activities, the expansion of power generation, and the growing demand for energy. Noteworthy trends in the forecast period encompass a focus on reducing maintenance costs and the expansion of power generation.

The boiler water treatment chemicals market is poised for growth, driven by the increasing demand for power generation. Power generation installations, responsible for electricity production using generators, benefit from chemical water treatment to enhance effectiveness and maintain thermal equipment stability. Notably, the global hydropower sector saw a 1.9% increase in installed hydroelectric capacity, reaching 1,360 GW by the end of 2021. Pumped storage capacity also rose by 3.3% to reach 165 GW in 2021, underscoring the escalating demand for power generation. This surge in power generation requirements is a key factor propelling the boiler water treatment chemicals market.

Anticipated growth in the boiler water treatment chemicals market is closely tied to the increased shift towards industrialization. The establishment and expansion of industries, including manufacturing, power generation, and chemical processing, drive the demand for boilers crucial in various processes. As industrial activities grow, there is a corresponding rise in the demand for boiler water treatment chemicals to ensure efficient and safe boiler operation. Notably, India's industrial production witnessed a 10.3% year-on-year growth, indicating a significant industrial upswing and contributing to the increased demand for boiler water treatment chemicals.

Technological advancement stands out as a key trend in the boiler water treatment chemicals market. Scientifically developed, technologically advanced chemicals play a preventive role in addressing water-related issues, including scale buildup, corrosion, water carryover, and sludge deposition. Industry leaders focus on technological innovation to sustain their market positions. For example, The Energy and Resources Institute (TERI) introduced the Advanced Oxidation Technology (TADOX), utilizing UV-Photocatalysis to treat municipal sewage and industrial wastewater. This technology, designed for integration into existing treatment systems, aligns with the trend of adopting innovative solutions in the boiler water treatment chemicals market.

Companies in the boiler water treatment chemicals market prioritize upgrading and expansion activities to strengthen their product portfolios and increase geographic presence. Expanding production capacity is crucial for meeting rising demand, improving efficiency, and facilitating business growth. China Everbright Water's securing of the Zhangdian East Chemical Industry Park Industrial Wastewater Treatment Plant expansion project exemplifies this strategic focus. Operating on a Build-Operate-Transfer (BOT) model, the project addresses industrial wastewater treatment needs, showcasing the commitment to both infrastructure development and business growth.

In November 2021, Platinum Equity, a US-based private equity firm, completed the acquisition of Solenis, a US-based boiler water treatment chemical manufacturer. This strategic move allowed Platinum Equity to expand its water treatment chemical portfolio. Solenis, post-acquisition, merged with Sigura Water, an existing Platinum Equity portfolio company, further reinforcing the commitment to growth and market leadership in the boiler water treatment sector. This acquisition demonstrates the industry's focus on strategic mergers and acquisitions for enhanced market presence and expanded offerings.

Major companies operating in the boiler water treatment chemicals market report are Ecolab Inc., Suez SA, Kemira Oyj, Kurita Water Industries Ltd., Solenis LLC, Arkema SA, BASF SE, ChemTreat Inc., Thermax Limited, Dow Inc., Eastman Chemical Company, GE Water & Process Technologies, Henkel AG & Co. KGaA, Italmatch Chemicals SpA, King Lee Technologies, Lonza Group Ltd., Ecolab Company, Nippon Rensui Co. Ltd., SUEZ Water Technologies & Solutions, Veolia Water Technologies & Solutions, Accepta Water Treatment Ltd., Aries Chemical Inc., Buckman Laboratories International Inc., Chemtex Specialty Limited, Cortec Corporation, Luminor Environmental Inc., Nouryon Chemicals Holding B.V, Solvay SA, US Water Services Inc., Albemarle Corporation

Asia-Pacific was the largest region in the boiler water treatment chemicals market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the boiler water treatment chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boiler water treatment chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of boiler water treatment chemicals include coagulants and flocculants, biocides and disinfectants, defoamers and defoaming agents, pH adjusters and softeners, as well as scale and corrosion inhibitors. Coagulants and flocculants are substances designed to destabilize and remove suspended particles from aqueous solutions. These chemicals find applications in diverse sectors, including basic chemicals, blended or specialty chemicals, and cater to end-users such as power generation, steel and metal industries, oil refineries, chemical and petrochemical industries, textile and dye industries, sugar mills, food and beverage manufacturers, among others.

This report provides boiler water treatment chemicals market statistics, including boiler water treatment chemicals industry global market size, regional shares, competitors with a boiler water treatment chemicals market share, detailed boiler water treatment chemicals market segments, market trends and opportunities, and any further data you may need to thrive in the boiler water treatment chemicals industry. This boiler water treatment chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The boiler water treatment chemicals market consists of sales of corrosion inhibitors and oxygen scavengers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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