Asia Pacific Cooling Water Treatment Chemical Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Corrosion Inhibitor, Scale Inhibitor, Biocide, and Others) and End-Use Industry (Power Industry; Steel, Mining & Metallurgy; Petrochem

Asia Pacific Cooling Water Treatment Chemical Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Corrosion Inhibitor, Scale Inhibitor, Biocide, and Others) and End-Use Industry (Power Industry; Steel, Mining & Metallurgy; Petrochemicals and Oil & Gas; Food & Beverage; Textile; and Others)

The Asia Pacific cooling water treatment chemical market is expected to grow from US$ 5,009.79 million in 2022 to US$ 7,152.35 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2022 to 2028 .

Shifting Emphasis Toward Green Chemicals

The chemicals used in various industries for water treatment harm the environment to a great extent and lead to severe health hazards among people exposed to them. Industries are seeking ways to improve their operations and make them eco-friendly. Rising awareness about global warming and other environmental issues has forced several industries to shift their focus toward safer options. This has encouraged manufacturers of water treatment chemicals to innovate and develop more sustainable and reliable products. Green chemicals are extracted from vegetables and renewable feedstock, and they make use of the chemical and colloidal properties of certain plant extracts. They don’t exhibit harmful side effects on humans and are biodegradable. Green chemicals have functionality that is equivalent to synthetic ones. Thus, manufacturers providing water treatment chemicals are expanding their product lines with these green chemicals. For example, Thermax Limited, an engineering company involved in energy and the environment, offers a range of green scale and corrosion inhibitors, oxygen scavengers, and neutralizers for boiler water and cooling water treatment.

Asia Pacific Cooling Water Treatment Chemical Market Overview

Countries such as Australia, China, India, Japan, South Korea, Singapore, Taiwan, and Indonesia have diverse manufacturing sectors, including steel, mining and metallurgy, petrochemicals, oil & gas, food & beverages, and textile industries. Asia Pacific is the largest consumer of cooling water treatment chemicals, and the region is projected to witness the highest CAGR during the forecast period. Many small- and large-scale manufacturing companies have presence in India, China, and Japan. China accounted for the largest market for cooling water treatment chemicals, which can be attributed to the vast power industry in the country. The manufacturing sector in Asia Pacific is rapidly adopting the innovation accelerators such as advanced technologies and processes.

Asia Pacific Cooling Water Treatment Chemical Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Cooling Water Treatment Chemical Market Segmentation

The Asia Pacific cooling water treatment chemical market is segmented based on end use and country. Based on type, the Asia Pacific cooling water treatment chemical market is segmented into corrosion inhibitor, scale inhibitor, biocide, and others. The scale inhibitor segment held the largest market share in 2022.

Based on end-use industry, the Asia Pacific cooling water treatment chemical market is segmented into power industry; steel, mining & metallurgy; petrochemicals and oil & gas; food & beverage; textile; and others. The power industry segment held the largest market share in 2022.

Based on country, the Asia Pacific cooling water treatment chemical market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

Albemarle Corporation; Buckman; Chemtex Speciality Limited; Ecolab; Veolia Water Technologies SASU; Kemira Oyj; and Kurita Water Industries Ltd. are the leading companies operating in the Asia Pacific cooling water treatment chemical market.

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