Boiler Water Treatment Chemicals Market Share
How Are the key drivers contributing to the expansion of the boiler water treatment chemicals market?
The upward trend in power generation needs is anticipated to boost the boiler water treatment chemicals market’s progression. Power generation installations are industrial structures that produce electricity through the use of primary energy and one or multiple generators to convert mechanical energy into electric energy. The utilization of chemical water treatment is imperative to enhance the efficacy of power generation in such plants, and it’s crucial for preserving the stability of thermal equipment operations. As an illustration, the Hydropower Status Report released by the International Hydropower Association, a non-profit international organization based in the UK, reported in June 2022 for the world’s hydropower sector that the worldwide installed hydroelectric capacity grew by 1.9% at the end of 2021, hitting a power generation level of 1,360 GW, a rise from 2020. Simultaneously, the pumped storage capacity also saw an upswing of 3.3%, reaching 165 GW of power in 2021, signifying the growing demand for power generation. Hence, this increased need for power generation is fueling the boiler water treatment chemicals market.
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What growth opportunities are expected to drive the boiler water treatment chemicals market’s CAGR through 2034?
A rapid acceleration has been witnessed in the size of the boiler water treatment chemicals market in the past few years. The market is expected to expand from $3.88 billion in 2024 to $4.32 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.3%. Factors such as the effects of urbanization, necessities of the food and beverage sector, refinery expansions, emphasis on industrial safety, and worry over water preservation have all contributed to the growth during the historic period.
The market for boiler water treatment chemicals is predicted to experience significant expansion in the upcoming years, escalating to a value of $6.61 billion in 2029 with a compounded annual growth rate of 11.2%. This anticipated growth during the forecast period could be attributed to factors such as the emphasis on sustainable practices, the global growth of manufacturing, the surge in industrial activities, power generation expansion, and the rise in energy demand. Key trends during this forecast period comprise the reduction of maintenance costs and further expansion in power generation.
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What are the emerging trends shaping the future of the boiler water treatment chemicals market?
Technological innovation is a notable trend in the boiler water treatment chemicals market. High-tech, scientifically-engineered chemicals have been developed to preemptively tackle water use challenges, such as scaling, corrosion, boiler water carryover, and sludge build-up. Key market players prioritize technology innovation to maintain their market standing. For example, in December 2023, Maxtreat, a new collection of boiler water treatment chemicals, was introduced by India’s Thermax Ltd., with the goal of enhancing boiler systems’ performance and longevity. This introduction is strategically aimed at satisfying the rising demand for efficient water treatment in diverse industrial sectors, especially in power production and manufacturing. Maxtreat is engineered to enhance boiler operational efficiency by mitigating scaling and corrosion, crucial factors that can cause system breakdowns and upticks in maintenance costs. This product launch underscores Thermax’s dedication to portfolio expansion in the boiler water treatment chemicals market.
Which growth-oriented segments of the boiler water treatment chemicals market are leading the industry’s development?
The boiler water treatment chemicals market size has grown rapidly in recent years. It will grow from $3.88 billion in 2024 to $4.32 billion in 2025 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to urbanization impact, food & beverage industry requirements, expansion in refineries, industrial safety focus, water conservation concerns.
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What regions are leading the charge in the boiler water treatment chemicals market?
Asia-Pacific was the largest region in the boiler water treatment chemicals market share in 2024 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.
What companies are at the forefront of innovation in the boiler water treatment chemicals market?
Major companies operating in the boiler water treatment chemicals market 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., Nippon Rensui Co. Ltd., SUEZ Water Technologies & Solutions, Veolia Water Technologies & Solutions, Accepta Water Treatment Ltd., Aries Chemical Inc., Buckman Laboratories International Inc., Chemtex Speciality Limited, Cortec Corporation, Luminor Environmental Inc., Nouryon Chemicals Holding B.V, Solvay SA, US Water Services Inc., Albemarle Corporation
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What Is Covered In The Boiler Water Treatment Chemicals Global Market Report?
• Market Size Forecast: Examine the boiler water treatment chemicals market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the boiler water treatment chemicals market for a structured understanding.
• Key Players Overview: Analyze major players in the boiler water treatment chemicals market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the boiler water treatment chemicals market.
• Segment Contributions: Evaluate how different segments drive overall growth in the boiler water treatment chemicals market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the boiler water treatment chemicals market.
• Industry Challenges: Identify potential risks and obstacles affecting the boiler water treatment chemicals market.
• Competitive Landscape: Review strategic developments in the boiler water treatment chemicals market, including expansions, agreements, and new product launches.
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