At 6.4% CAGR, Asia Pacific Cooling Water Treatment Chemicals Market is Projected to be worth US$ 8,199.46 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific cooling water treatment chemicals market was valued at US$ 5,006.06 million in 2022 and is projected to reach US$ 8,199.46 million by 2030, registering a CAGR of 6.4% from 2022 to 2030. Growing demand from power industry and growing emphasis on water recycling and reuse are among the critical factors attributed to drive the Asia Pacific cooling water treatment chemicals market growth.

Quick urbanization, rising monetary improvement, and expanding industrial activities have resulted in a tremendous demand for water across the world. It is crucial to maintain the hydrological cycle for ensuring a sustainable future. The four fundamental procedures used for water treatment are heater treatment, cooling treatment, and filtration. The consumption of freshwater is surging globally due to climate change and population growth, and increased land use and energy generation, which has resulted in water scarcity, in turn, requiring prompt considerations. Additionally, rising costs of industrial water are rerouting industries' focus on water recycling and reuse. The adoption of cooling water treatment is high among industries such as oil & gas, pulp & paper, electric power generation, and chemicals due to the high-water requirement. These industries incorporate various technologies to recycle and reuse water for industrial applications to save water. For instance, the power industry uses water softener systems to reduce water hardness for preventing scale build-up, clogging, and expense. Such practices have accelerated the use of different cooling water treatment chemicals among these industries, thereby boosting the market growth.

On the contrary, surging preference for chlorine alternatives hampers the growth of Asia Pacific cooling water treatment chemicals market.

Based on type, the Asia Pacific cooling water treatment chemicals market is segmented into scale inhibitor, corrosion inhibitor, biocide, and others. The scale inhibitor segment held 34.2% market share in 2022, amassing US$ 1,712.39 million. It is projected to garner US$ 2,755.82 million by 2030 to register 6.1% CAGR during 2022-2030.

In terms of end use, the Asia Pacific cooling water treatment chemicals market is segmented into power; steel, mining, and metallurgy; petrochemicals, oil, and gas; food and beverages; textile; and others. The power segment held 33.2% share of Asia Pacific cooling water treatment chemicals market in 2022, amassing US$ 1,659.60 million. It is anticipated to garner US$ 2,593.94 million by 2030 to expand at 5.7% CAGR during 2022-2030.

Based on country, the Asia Pacific cooling water treatment chemicals market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.2% share of Asia Pacific cooling water treatment chemicals market in 2022. It was assessed at US$ 2,164.48 million in 2022 and is likely to hit US$ 3,596.32 million by 2030, registering a CAGR of 6.6% during 2022-2030.

Key players operating in the Asia Pacific cooling water treatment chemicals market are Albemarle Corp, Buckman Laboratories lnternational Inc, Chemtex Speciality Ltd, Ecolab Inc, Kemira Oyj, Kurita Water Industries Ltd, and Veolia Water Solutions & Technologies SA, among others.

• In June 2021, Kemira expanded its water treatment chemicals production capacity in Yanzhou, China, to meet growing demand in the Asia-Pacific region. The company is building a new sodium hypochlorite production unit, set to start commercial production in January 2022. This disinfectant is crucial in pulp and paper industry water treatment processes and municipal water treatment. Kemira is also finalizing the pre-engineering phase for an investment in increasing the production of polyaluminum chloride (PAC), a coagulant used in raw water and wastewater treatment processes. Both units will use industrial side streams and recycled by-products as key raw materials.
  
  

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