Asia Pacific Cooling Water Treatment Chemicals Market Forecast to 2030 - Regional Analysis - by Type (Scale Inhibitor, Corrosion Inhibitor, Biocide, and Others) and End Use (Power; Steel, Mining, and Metallurgy; Petrochemicals, Oil, and Gas; Food and Beve

Asia Pacific Cooling Water Treatment Chemicals Market Forecast to 2030 - Regional Analysis - by Type (Scale Inhibitor, Corrosion Inhibitor, Biocide, and Others) and End Use (Power; Steel, Mining, and Metallurgy; Petrochemicals, Oil, and Gas; Food and Beverages; Textile; and Others)

The Asia Pacific cooling water treatment chemicals market was valued at US$ 5,006.06 million in 2022 and is expected to reach US$ 8,199.46 million by 2030; it is estimated to register a CAGR of 6.4% from 2022 to 2030.

Growing Emphasis on Water Recycling and Reuse Boosts Asia Pacific Cooling Water Treatment Chemicals Market

Quick urbanization, rising monetary improvement, and expanding industrial activities have resulted in a tremendous demand for water across the world. It is crucial to maintain the hydrological cycle for ensuring a sustainable future. The four fundamental procedures used for water treatment are heater treatment, cooling treatment, and filtration. The consumption of freshwater is surging globally due to climate change and population growth, and increased land use and energy generation, which has resulted in water scarcity, in turn, requiring prompt considerations. Additionally, rising costs of industrial water are rerouting industries’ focus on water recycling and reuse. The adoption of cooling water treatment is high among industries such as oil & gas, pulp & paper, electric power generation, and chemicals due to the high-water requirement. These industries incorporate various technologies to recycle and reuse water for industrial applications to save water. For instance, the power industry uses water softener systems to reduce water hardness for preventing scale build-up, clogging, and expense. Such practices have accelerated the use of different cooling water treatment chemicals among these industries, thereby boosting the market growth.

Asia Pacific Cooling Water Treatment Chemicals 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 innovative accelerators such as advanced technologies and processes. Over the past few years, manufacturing spending has grown significantly in the region. Government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India. Such developments in the manufacturing sector are favoring the cooling water treatment chemicals market growth in India. Moreover, new initiatives such as “Factories of the Future” and novel business models are subsequently boosting the demand growth for cooling water treatment chemicals in Asia Pacific.

Asia Pacific Cooling Water Treatment Chemicals Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Cooling Water Treatment Chemicals Market Segmentation

The Asia Pacific cooling water treatment chemicals market is categorized into type, end use, and country.

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

In terms of end use, the Asia Pacific cooling water treatment chemicals market is segmented into power; steel, mining, and metallurgy; petrochemicals, oil, and gas; food and beverages; textile; and others. The power segment held the largest market share in 2022.

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

Albemarle Corp, Buckman Laboratories lnternational Inc, Chemtex Speciality Ltd, Ecolab Inc, Kemira Oyj, Kurita Water Industries Ltd, and Veolia Water Solutions & Technologies SA are some of the leading companies operating in the Asia Pacific cooling water treatment chemicals market.

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