Global Market Insights, Inc. present the report on Boiler Water Treatment Chemicals Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.
Global Boiler Water Treatment Chemicals Market size is likely to expand at a prominent CAGR in the forecast period. Water generally has dissolved gases & solids and suspended solids. These contaminations can cause severe damage to boiler & its parts. Boiler water treatment chemicals facilitate continuous heat exchange, high-quality steam generation and protection from corrosion. The chemicals are added to enhance safety, reliability and efficiency of system. Chemical treatment is done only after removing the mechanical and physical impurities.
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With increasing usage of boilers in numerous end-user industries, the global boiler water treatment chemicals market size is expected to rise significantly over the forecast timespan. Other prime factors responsible for driving global boiler water treatment chemicals market are requirement of fresh water by Asia Pacific and Middle East countries. In addition, strategies incorporated by industry share contributors to reduce investment on raw water treatment equipment maintenance and installation will complement business growth.
The overall boiler water treatment chemicals market, based on product type, is be segmented into corrosion & scale inhibitors, biocides, foam control agents, oxygen scavengers, coagulants & flocculants and pH control agents. Some other types of product are chelating agents, fluoridation chemicals, etc.
The product finds application in several end-user industries such as oil refineries, petrochemical, steel & metal, food & beverage, textiles & dyes, power sector (power plants) and pulp & paper. Other fields of application for boiler water treatment chemicals market are pharmaceutical industry, sugar mills, etc.
Asia Pacific held the biggest share of global boiler water treatment chemicals market in 2016. This can be attributed to huge investments on power generation, steady growth in building & construction industry and rapid industrialization in countries including China, India, Japan, South Korea, etc. Moreover, rise in population in the region will boost the building & construction industry, which in turn, will increase the product demand over the forecast period.
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The prominent boiler water treatment chemicals share contributors are AkzoNobel, BASF SE, The Dow Chemical Company, Kemira Oyj, Chemtex Specialty Limited, Ecolab Inc., Veolia International, Thermax Limited and GE Water and Process Technologies. Other companies include Avista Technologies Inc., Reverse Osmosis Chemicals International, Berwind (BWA Water Additives), Suez Environment, Ion Exchange India Limited, Hydrite Chemical Company and King Lee Technologies.
Majority of companies are adopting joint ventures and acquisitions as strategies to diversify their product portfolio and penetrate local market, which will aid them to achieve competitive advantage in boiler water treatment chemicals market share. For instance, NALCO (a division of Ecolab Inc.), introduced 3D TRASAR Technology, a corrosion & stress monitor in 2009, which increased its value as a major player in boiler water treatment chemicals market. This increased competition among existing players such as Veolia and GE Water and Process Technologies to match up NALCO’s technology.
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