Boiler Water Treatment Chemicals Market

Boiler Water Treatment Chemicals Market Outlook (2022-2032)

The global sales of boiler water treatment chemicals is valued at US$ 4.2 Billion in 2021. With 10.6% CAGR, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth.

Scale Inhibitors are expected to be the highest revenue-generating type, accounting for an absolute dollar opportunity of nearly US$ 7.9 Billion during 2022 – 2032.

Report Attributes	Details
Market Size in 2022	US$ 4.5 Billion
Market Size in 2032	US$ 12.4 Billion
Market CAGR (2022 – 2032)	10.6%
U.S. Market CAGR (2022 – 2032)	9.6%
Key Companies Profiled	BASF Arkema Ecolab Kemira Solenis Suez Kurita Water Industries Chemtreat Thermax Veolia Water Technologies

Revenue of Boiler Water Treatment Chemicals from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Boiler Water Treatment Chemicals industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Boiler Water Treatment Chemicals industry increased at around 8.2% CAGR, wherein, countries such as the U.S., UK, China, South Korea, and Japan held a significant share in the global market.

Owing to this, the Boiler Water Treatment Chemicals market is projected to grow at a CAGR of 10.6% over the coming 10 years.

Which factors are leading to the growth of the industry?

During the projected period, the boiler water treatment market is expected to grow due to an increase in the demand for steam and pure water from a variety of end-use industries.

The key factors in boiler water treatment are corrosion protection, a constant exchange of heat, and high-quality steam production.

Boiler water chemicals are added to stabilize the system's functionality, safety, and reliability. Chemical treatment is performed only after physical and mechanical impurities have been mitigated.

High industrialization in various economies is one of the key factors boosting the global market demand for boiler water chemicals.

As the demand for power generation increases, so does the need for boiler technologies, which will drive the market for boiler water treatment chemicals to grow even faster. These factors are leading to the rapid expansion of the Boiler Water Treatment Chemicals Industry.

During the forecast period, the growing demand for steam and pure water in a variety of end-use sectors is likely to propel the global boiler water treatment market forward.

Global market demand for boiler water chemicals is being supplemented by growing industrialization in various economies. Many industrial operations have successfully implemented the separation technique.

Boiler water treatment chemicals are required to safeguard the boiler against corrosion and probable malfunction. Membrane filtration paired with an improved vibratory shearing process improves the effort of industrial boilers and power plants, as well as the cogeneration industry, to meet system performance objectives and environmental laws.

The availability of novel membrane materials and VSEP technology, as well as the development of applications for industrial boilers and power plants, make it possible to treat more problematic streams with technically and economically effective outcomes.

However, a lack of awareness and information about the benefits of boiler water treatment chemicals may limit the market's growth. Despite this, further technological advancement in this industry may open up more prospects for business expansion.

Regional Analysis

Which Region held the Largest Revenue share for Boiler Water Treatment Chemicals?

Asia-Pacific dominated the global boiler water treatment chemicals market, owing to the region's growing power industry, infrastructure development, and urbanization. The requirement for boiler water treatment chemicals is expected to remain high in the region, however, the market is expected to rise at a relatively slow rate during the projected period. The global market for boiler water treatment chemicals has grown in recent years.

This expansion is being fueled by causes such as the need for fresh water in Asia-Pacific and the Middle East, as well as techniques used by industrialists to lower the cost of installing and maintaining raw water treatment equipment with the support of boiler water treatment chemicals.

Country-wise Analysis

U.S. Boiler Water Treatment Chemicals Market Analysis

The market in the U.S. is projected to reach a valuation of US$ 3.6 Billion by 2032, growing at a CAGR of 9.6% during 2022 – 2032. The market in the country is projected to garner an absolute dollar opportunity of US$ 2.2 Billion during the forecast period.

U.K. Boiler Water Treatment Chemicals Market Analysis

The U.K. market is expected to gross US$ 559 Million by 2032. Growing with a CAGR of 10.7%, the market is expected to garner an absolute dollar opportunity of US$ 357 Million during 2022 – 2032.

China Boiler Water Treatment Chemicals Market Analysis

The market for boiler water treatment chemicals in Asia-Pacific is dominated by China. The power sector, the food production sector, the industrial machinery manufacturing sector, the pharmaceutical sector, and the processed metals industry are the key industries in the nation that use a lot of boiler water and need to treat it.

According to the China Electric Council (CEC), by 2030, the number of new coal power plants will have increased by 300-500 percent. Furthermore, the country's power consumption has been increasing significantly in recent years. The country's need for boiler water treatment chemicals is being driven by the increase in energy production and consumption. Other end-user sectors, such as food processing and chemical manufacturing, have also increased their requirement for boiler water treatment chemicals.

Japan Boiler Water Treatment Chemicals Market Analysis

In Japan, the market is expected to gross a valuation of US$ 674 Mn by 2032. The market in the country is expected to garner an absolute dollar opportunity of US$ 466 Mn, growing at a CAGR of 12.6% during the forecast period.

Category-wise Insights

Why did Scale Inhibitors dominate the market for Boiler Water Treatment Chemicals as a type?

Scale inhibitors dominate the boiler water treatment chemicals industry. Pipelines in industrial plants acquire scale on their walls during boiler water operation. If left unchecked, these scales can lead to overheating, lower heat transfer efficiency, tube failures, and restricted circulation, reducing the boiler water system's reliability.

Scale inhibitors are frequently utilized in a variety of industries, including oil and gas, power generation, textiles, and food processing, to avoid such a situation. The need for scale inhibitors is expanding as these end-user sectors grow, along with an increased focus on treating water before releasing it. As a result of these variables, scale and corrosion inhibitors are expected to dominate the projection term.

Why Power segment dominated the Boiler Water Treatment Chemicals Market?

The power segment dominates the market for Boiler Water Treatment Chemicals. Rapid urbanization and an ever-increasing global population are driving the rise of this segment. As a response, there is a greater need for electricity. In addition, the increasing number of nuclear power projects in developing countries around the world is pushing up requirements for boiler water treatment chemicals.

Power plants use significant volumes of water, mostly for the effective functioning of turbines that generate heat, and they are the largest users of boiler water treatment chemicals. Malaysia is currently building a number of thermal power stations. During the projected period, the boiler water treatment chemicals market is expected to be driven by the rapid advancement of projects.

There has been an increase in the number of nuclear power plants in China. Over 35 nuclear power stations are currently operational in the region, with another 20 under construction. These new power plants are planned to expand nuclear power output capacity by 70% in the coming years.

The U.S. is the world's leading nuclear power producer. To enhance nuclear-based power output, the US government is proposing a number of additional reactor deployments. During the projection period, growth in the number of nuclear plants in the U.S. and China is likely to drive the demand for boiler water chemicals. As a result, throughout the forecast period, the power segment is expected to dominate the market.

Competitive Analysis

The key players operating in the market are BASF, Arkema, Ecolab, Kemira, Solenis, Suez, Kurita Water Industries, Chemtreat, Thermax, and Veolia Water Technologies.

Some of the recent developments of key Boiler Water Treatment Chemicals providers are as follows :

• In February 2020, Veolia Water Technologies UK bought Biochemica Water Ltd, a water and wastewater treatment company, to strengthen its position as a leader in water treatment chemicals.
• In February 2019, Kurita purchased U.S. Water Services Inc., a company that sells and manufactures water treatment chemicals.
• In January 2019, Solenis stated that they have finalized their merger with BASF SE's wet-end "Paper and Water Chemicals" division. The new company will be known as Solenis and will also be able to supply increased amounts of chemical solutions to a variety of industrial customers.
• In October 2017, WaterBridge Ventures announced that it has finalized the takeover of Arkoma Water Resources, LLC. This acquisition considerably enhances WaterBridge's operating capabilities and complements the company's existing product offering for water treatment, including produced water, transportation pipeline, supply water, and SWD infrastructure operations.

Similarly, recent developments related to companies offering Boiler Water Treatment Chemicals have been tracked by the team at Fact.MR, which are available in the full report.

Market Segments Covered in Industry Analysis

• By Type :

  • Scale Inhibitors
  • Corrosion Inhibitors
  • Oxygen Scavengers
  • Other Types

• By End-Use :

  • Power
  • Oil & Gas
  • Chemical & Petrochemicals
  • Food & Beverage
  • Other End-Use

• By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa