Boiler Water Treatment Chemicals Market size is forecast to reach $4.65 billion by 2025, after growing at a CAGR of 8.20% during 2020-2025. Boiler water is raw water used in boilers for generating steam. It is a liquid phase of steam within the boiler. The term is also used for the treated boiler feedwater, or steam condensate being returned to a boiler, or boiler blowdown being removed from a boiler. Boiler water treatment is the protection of boiler water from corrosion and other impurities. The treatment and conditioning of boiler water is done for continuous heat exchange, corrosion protection, and production of high-quality steam.
By Type – Segment Analysis
Corrosion inhibitors segment held a significant share in boiler water treatment chemicals market in 2019. Corrosion inhibitors decrease the rate of corrosion rate of boilers by forming a passivation layer to the metal surface of the boiler systems. The performance of these chemicals depends upon the quality of the makeup water used by various end-use industries. Oxygen scavengers are used to remove residual oxygen from the boiler feedwater so as to protect the boiler and control corrosion of the feed tank and the condensate return lines. Scaling inhibitors are used in boiler water treatment chemicals system to prevent scaling and reduce the damages associated with scaling. Poor water treatment leads to boiler explosions causing scaling and overheating of the plates, low water level, a stuck safety valve, or even a furnace explosion.
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By End-User Industry – Segment Analysis
Power segment held a significant share in boiler water treatment chemicals market in 2019 growing at a CAGR of 7.9% during the forecast period. Power plants utilize a large amount of water, primarily for the proper operation of turbines with the generation of heat, and are the major consumers of boiler water treatment chemicals. The growth of this segment can be attributed to rapid urbanization and continuously growing population across the globe. This, in turn, has led to an increased demand for power. Moreover, the rise in the number of nuclear projects in emerging economies across the globe is also contributing to the demand for boiler water treatment chemicals for power.
Geography- Segment Analysis
Asia Pacific dominated the boiler water treatment chemicals market with a share of more than 39%, followed by North America and Europe. The demand and market growth in the power, manufacturing, and industrial sectors are increasing, which, in turn, is boosting the demand for boiler water treatment systems and chemicals. Malaysia has several thermal plants under construction. The advancement of projects at a good pace is likely to drive the boiler water treatment chemicals market, during the forecast period. In China, there has been a rise in the number of nuclear power plants. Currently, over 35 nuclear power plants are operating in the region, with around 20 currently under construction. These new power plants are expected to increase the nuclear power generation capacity by 70%, by 2020-2021. The United States is the world’s largest producer of nuclear power. The United States government is planning for a number of new reactor installations, to increase nuclear-based power generation.
The Indian power sector has been facing challenging times right since 2018, with declining industrial activity leading to reduction in demand for power. The novel coronavirus disease COVID-19 has further worsened the situation not only in India but all across the globe spelling its doom on the global economy.
Drivers – Boiler Water Treatment Chemicals Market
Increasing requirement of steam and pure water from numerous end-use industry
Increasing requirement of steam and pure water from numerous end-use industries is expected to raise the boiler water treatment market during the forecast period. Boiler water treatment involves three main factors namely corrosion protection, a continuous exchange of heat and high-quality steam production. The chemicals are added to enhance reliability, safety and efficiency of system. Chemical treatment is done only after removing the physical and mechanical impurities. Growing industrialization across different economies are certain key drivers to further boost market demand globally for boiler water chemicals. Furthermore, increasing demand for power generation will increase the need for boiler technology, which will further push the demand growth of boiler water treatment chemicals market.
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Challenges – Boiler Water Treatment Chemicals Market
Deposit formation occurs due to the non-volatile nature of certain chemicals which may hamper the boiler water treatment chemicals market. Concerns regarding the usage of certain chemicals such as “hydrazine” and other alternatives because of their toxic nature are expected to restrain the market growth. It’s important to treat boiler water because impurities in the water can cause a whole host of issues, which will lead to wasting money on equipment repairs if not treated the water instead.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the boiler water treatment chemicals market. Major players in the boiler water treatment chemicals market are Ecolab Inc., Solenis, Veolia Water Technologies, Metito, Suez SA, BWA Water Additives, Ion Exchange LLC, Kurita Water Industries Ltd, Thermax Limited, Wetico, Buckman, AES Arabia Ltd, Improchem Pty Ltd, BASF SE and ChemTreat Inc. (Danaher Corporation) among others.
In January 2019, Solenis announced that they had completed the merger with BASF SE’s wet-end “Paper and Water Chemicals” business with theirs. The merged company will begin operating under the Solenis brand and will be able to provide expanded levels of chemicals solutions to several industrial users.
In October 2017, WaterBridge Ventures announced that they had completed the acquisition of Arkoma Water Resources, LLC. This acquisition significantly expands the operating capabilities of WaterBridge and complements the existing product portfolio of WaterBridge for treatment of water bodies such as produced water,transportation pipeline, supply water and SWD infrastructure operations.
Asia-Pacific is expected to dominate the global market during the forecast period.
Boiler water treatment chemicals are chemical compounds that are used in the processing/operations of industrial boilers because of their importance in maintaining the optimum levels of operation.
Reduction in pretreatment and heat exchanger equipment costs is also expected to boost the demand for boiler water treatment chemicals.
A. Water Treatment Chemicals Market
B. Cooling Water Treatment Chemicals Market
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