At 5.6% CAGR, Middle East & Africa Cooling Water Treatment Chemicals Market is Projected to be Worth US$ 731.58 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa cooling water treatment chemicals market was valued at US$ 474.86 million in 2022 and is projected to reach US$ 731.58 million by 2030, registering a CAGR of 5.6% 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 Middle East & Africa cooling water treatment chemicals market growth.

The power industry is growing rapidly with population growth and urbanization. According to the world energy outlook 2022, global electricity demand electricity demand rises by 25-30% to 2030. Also, electrification across major end-use industries is expected to double the electricity demand by 2050. Increasing investment by various private companies and governments in the building and maintenance of energy infrastructure is also bolstering this industry. The power industry, including thermal and atomic plants, requires water in huge quantities. These industries frequently use seawater or lake water for cooling the heat exchange equipment. The water is reused several times and returned to its source. ~99% of the water retrieved from the source is returned, and less than 1% of the water is squandered in dissipation. Cooling water treatment chemicals are widely used in this industry to lower the dependency on freshwater resources. These chemicals are gaining attention, especially in open-recirculating, closed-loop, and once-through cooling frameworks, as they boost the heat transfer efficiency in heat-exchange equipment. The growing number of atomic energy plants across the world, combined with efforts being made to maintain existing plants, would further boost the use of cooling water treatment chemicals in the coming years. Thus, the continuous growth of the power generation industry, especially in developing countries is boosting the growth of the cooling water treatment chemicals market.

On the contrary, surging preference for chlorine alternatives hampers the growth of Middle East & Africa cooling water treatment chemicals market.

Based on type, the Middle East & Africa cooling water treatment chemicals market is segmented into scale inhibitor, corrosion inhibitor, biocide, and others. The scale inhibitor segment held 34.5% market share in 2022, amassing US$ 163.67 million. It is projected to garner US$ 248.18 million by 2030 to register 5.3% CAGR during 2022-2030.

In terms of end use, the Middle East & Africa 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 34.1% share of Middle East & Africa cooling water treatment chemicals market in 2022, amassing US$ 162.08 million. It is anticipated to garner US$ 249.85 million by 2030 to expand at 5.6% CAGR during 2022-2030.

Based on country, the Middle East & Africa cooling water treatment chemicals market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 40.4% share of Middle East & Africa cooling water treatment chemicals market in 2022. It was assessed at US$ 191.76 million in 2022 and is likely to hit US$ 292.66 million by 2030, registering a CAGR of 5.4% during 2022-2030.

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

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