Increasing Industrialization
Industrialization is a primary factor leading to the growth of the boiler water treatment chemicals market. Various industries that produce steam or use steam in their thermal processes, including Power generation, Oil & Gas production, Chemical processing, and Food manufacturing, rely on boiler systems for these processes. Since boilers require high-quality water in order to work effectively, treatment chemicals are essential for ensuring efficient boiler operation through the avoidance of performance issues or system failure. Corrosion and scaling are two of the most widespread problems facing industrial boiler systems. The problems associated with these two types of damage can result in reduced efficiency of heat transfer through the boiler, increased energy usage, and excessive capital expenditures for replacement equipment that may have been prevented with the appropriate treatment program. To help ensure the integrity of a boiler system, many industrial operators apply corrosion inhibitors, scale inhibitors, and oxygen scavengers to their systems. As manufacturers continue to expand capacity, there will be increased demand for boiler water treatment chemicals.
Strong industrial and energy sector growth throughout the developing world, particularly in Asia Pacific, has been evident over the past several years. The installation of boilers has been accelerating as a result of various government initiatives to improve infrastructure and increase industrial output. Due to the growth in global energy consumption, the number of thermal power plants will also continue to grow, thereby continuing to support growth in the boiler water treatment chemicals market.
Increasing operational efficiency and reducing costs are also important factors driving demand for boiler water treatment chemicals. Industrial operations are utilizing these types of chemicals with increased frequency than in the past to meet these objectives.
Stringent Environmental Regulations
Increasingly strict environmental regulation, sustainability initiatives and eco-friendly chemicals are offering tremendous potential for commercial development of the global market for chemicals used in the treatment of boiler feed water. Across the world, governments and regulating agencies are passing and enforcing very strict policies regarding water use, wastewater discharge and the chemical safety. These regulations create an incentive for all types of industries to develop and utilize advanced treatment solutions that will not only improve boiler operations but also reduce environmental harm.
Reducing the discharge of harmful chemicals into our water supplies is one of the most significant drivers of regulation related to boiler chemical treatment. Many of the traditional chemicals used to treat boiler feed water contain one or more materials that can either be hazardous to the environment and/or difficult to degrade, which has resulted in a greatly increased demand for "green" biodegradable alternatives. In response, many companies are working to develop "green chemistry" processes that are environmentally compliant and help maintain high levels of treatment, thereby creating opportunities for both innovation and product differentiation.
In addition to sustainable chemical treatment options, regulatory guidelines are also becoming more stringent regarding the efficient use of water. As more and more industries are required to recycle and reuse water, they must also adopt more advanced water treatment systems. The many companies developing advanced chemicals for the treatment of boiler feed water are designing those chemicals to perform effectively with recycled water systems so that they can maintain a consistent level of chemical treatment despite changes in the quality of the feed water to the system.
Another growth opportunity tied to regulatory compliance is the digital transformation. Companies are implementing "smart" water management systems, and increasingly, businesses of all sizes implementing IoT and digital technologies focused on the management of water and its use during boiler operations.
