growing at a CAGR of 5. 9% during the forecast period. Cooling water treatment chemicals help remove the microbial load from cooling systems. Moreover, this chemical treatment also protects the systems from corrosion and controls the scale formation and fouling.
New York, March 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cooling Water Treatment Chemicals Market to 2027 - Global Analysis and Forecasts by Type ; End-User Industry , and Geography" - https://www.reportlinker.com/p05875854/?utm_source=GNW
The treatment helps increase the efficiency and safety of a device to be cooled. Further, it reduces the energy consumption by increasing the pace of cleaning, which is anticipated to boost the market growth of cooling water treatment chemicals market
Based on type, the global cooling water treatment chemicals market is segmented into corrosion inhibitors, scale inhibitors, biocides, and others.Scale inhibitor led the global cooling water treatment chemicals market in 2018 whereas the market for corrosion inhibitor is expected to grow at faster CAGR.
Corrosion inhibitors help prevent the system form fouling to ensure the safe operation of cooling systems.They are normally classified as anodic, cathodic, film-forming, and oxygen-absorbing agents, depending on their mode of action.
Water treatment include both anodic and cathodic inhibitors, as well as the combination of these two inhibitors, depending upon the application.A majority of the exclusive corrosion inhibitor formulae belong to this category.
Chromate, Nitrate, Zinc, Molybdate, Polysilicate, Nitrite, Polyphosphate, and Azoles are common corrosion inhibitors used in cooling water treatment. The increasing use of these chemicals from industries such as power, steel, mining and metallurgy, petrochemicals, oil & gas, and food & beverages is driving the growth of the market for corrosion inhibitors. In these industries, these corrosion inhibitors are injected into water cooling systems in specified doses to prevent scaling, corrosion, and growth of bacteria in water.
Power Industry is the largest and fastest-growing end-use industry of cooling water treatment chemicals market.The growing population and urbanization, coupled with changing lifestyles, have resulted in increasing per capita power consumption.
This, factor has fueled the demand for electricity across the globe.Development in the global power sector is expected to augment the utilization of cooling water treatment systems which in turn has increased the demand for cooling water treatment chemicals in the power industry.
Clean water is an essential component for power generation. Additionally, the industry efforts to reuse water and follow stringent regulations for wastewater treatment, will further support the growth of cooling water treatment chemicals market.
APAC holds the largest share of the global cooling water treatment chemicals market.Countries such as Australia, China, India, Japan, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector which includes steel, mining & metallurgy, petrochemicals, oil & gas, food & beverage, and textile.
These manufacturing sectors in APAC are experiencing a huge shift by adopting innovative and advanced technologies.Over the past few years, the investment in manufacturing sectors has grown significantly and is anticipated to increase the cooling water treatment chemicals market.
Moreover, government initiatives and policies such as Make-in-India, have encouraged manufacturers and investors to setup different manufacturing plants in India. This development in the manufacturing sector generates a need for advanced solutions that increases the demand for cooling water treatment chemicals, fueling the cooling water treatment chemicals market at a greater extent.
The cooling water treatment chemicals market is characterized by the presence of large number of players. Some of the leading players in the global market are Accepta, Albemarle Corporation, Buckman, BWA Water Additives, Chemtex Speciality Limited, ChemTreat, Inc., DuBois Chemicals, Ecolab, Veolia Water Technologies and Kemira Oyj. New product development, merger and acquisition and other strategies were undertaken by the companies operating in the global cooling water treatment chemicals market. For instance, in 2018, BWA Water Additives has launched a new biocide chemistry into the Hydraulic Fracturing and Oil and Gas market in Canada. Bellacide 350 has been designed and approved for use in fracturing fluids and enhanced oil recovery water injection applications.
Read the full report: https://www.reportlinker.com/p05875854/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001