Report : Asia Pacific Cooling Water Treatment Chemical Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Corrosion Inhibitor, Scale Inhibitor, Biocide, and Others) and End-Use Industry (Power Industry; Steel, Mining & Metallurgy; Petrochemicals and Oil & Gas; Food & Beverage; Textile; and Others)
At 6.1% CAGR, the Asia Pacific Cooling Water Treatment Chemical Market is speculated to be worth US$ 7,152.35 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific cooling water treatment chemical market was valued at US$ 5,009.79 million in 2022 and is expected to reach US$ 7,152.35 million by 2028, registering a CAGR of 6.1% from 2022 to 2028. Mounting demand from power industry and upward emphasis on water recycling and reuse are the critical factors attributed to the Asia Pacific cooling water treatment chemical market expansion.
The power, oil & gas, chemicals, petrochemicals, and mining industries produce enormous volumes of wastewater. Generally, these wastewaters are released through a plant outfall into a surface water body, a dissipation lake, or a deep well injected. Environmental concerns due to such releases have catalyzed advancements in zero liquid discharge (ZLD) processes. ZLD is a treatment process in which all wastewater is purged and reused, thereby leaving zero release toward the end of the treatment cycle. This wastewater treatment technique incorporates ultrafiltration, switch assimilation, vanishing/crystallization, and fragmentary electrode ionization. It focuses on the economic reduction of wastewater volumes, along with producing clean water that is suitable for reuse. ZLD systems generally comprise brackish water concentrators and crystallizers that use thermal evaporation to transform the saline solution into highly refined water. Apart from evaporator/crystallizer systems, ZLD systems may be enabled by promising advancements such as electrodialysis/electrodialysis reversal (ED/EDR), forward osmosis (FO), and membrane distillation (MD). These components are utilized in various combinations to bring down the expense and raise the productivity of the ZLD framework. In addition to the abovementioned techniques, other procedures associated with ZLD include softening, reverse osmosis, drying, and clarification. These procedures require different water treatment chemicals to enhance the productivity of the entire process. The growing concerns among populations about the effects of environmental releases of industrial waste, and stringent guidelines by administrations on water protection and wastewater management have added to the popularity of zero liquid discharge among different businesses, eventually boosting the Asia Pacific cooling water treatment chemical market growth. This is expected to drive the market during the forecast period.
On the contrary, developing preference for chlorine alternatives hurdles the growth of Asia Pacific cooling water treatment chemical market.
Based on type, the Asia Pacific cooling water treatment chemical market is categorized into corrosion inhibitor, scale inhibitor, biocide, and others. The scale inhibitor segment held 34.4% market share in 2022, amassing US$ 1,721.17 million. It is projected to garner US$ 2,423.80 million by 2028 to expand at 5.9% CAGR during 2022–2028.
Based on end-use industry, the Asia Pacific cooling water treatment chemical market is categorized into power industry; steel, mining & metallurgy; petrochemicals and oil & gas; food & beverage; textile; and others. The power industry segment held 33.3% market share in 2022, amassing US$ 1,670.37 million. It is projected to garner US$ 2,298.27 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on country, the Asia Pacific cooling water treatment chemical market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.2% market share in 2022. It was assessed at US$ 2,164.48 million in 2022 and is likely to hit US$ 3,111.63 million by 2028, exhibiting a CAGR of 6.2% during the forecast period.
Key players dominating the Asia Pacific cooling water treatment chemical market are Albemarle Corporation; Buckman; Chemtex Speciality Limited; Ecolab; Veolia Water Technologies SASU; Kemira Oyj; and Kurita Water Industries Ltd. among others.
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