Global Boiler Water Treatment Chemicals Market Grows Steadily at a CAGR of 6.72%

Introduction

Boiler water is untreated water used in boilers to create steam. Inside the boiler, it exists as a liquid form of steam. The phrase also applies to steam condensate directed to a boiler, treated boiler feedwater, and removed boiler blowdown. The process of treating boiler water guards it against impurities like corrosion. Boiler water is treated and conditioned to guarantee continuous heat exchange, corrosion prevention, and the production of high-quality steam.

Market Dynamics

Growing Demand for Power Generation Industry Drives the Global Market

Several environmental concerns are brought up using thermal energy for power production. The ability to deliver safe, reliable and affordable electricity continues to be a critical factor in the capacity expansion of new thermal-based power plants worldwide. As a result, there are now more boilers in operation. According to the National Electricity Plan, published by the Ministry of Power, New and Renewable in March 2020, thermal power plants in India are expected to increase their installed capacity from 230,599.77 megawatts in 2020 to 243,037 megawatts in 2022. As a result, the growing demand from the power generation sector has been the main driver of the boiler water treatment chemicals market.

Growing Use of Film-Forming Amines for Corrosion Protection Creates Tremendous Opportunities

Boiler water is treated with substances known as film-forming amines (FFA) because they can stop corrosion. The amine group in each molecule helps it attach to the metal substrate, and the long-chain organic portion of the molecule extends into the water and serves as a barrier. However, due to poor control and a general lack of knowledge about the amines' chemistry, gunk balls formed clogged steam generators. As a result, amines that cause sludge in boiler water treatment have been stopped. However, due to the availability of new varieties of film-forming amines, such as ChemTreat's TITAN360 series, there has been a recent resurgence in their use in boiler water treatment. These new-generation FFAs significantly improve the protection of metal surfaces. Therefore, given the widespread use of film-forming amines for boiler water treatment, the market under study will likely present a sizable growth opportunity.

Regional Analysis

Asia-Pacific is the highest revenue contributor and is anticipated to grow at a CAGR of 7.44% during the forecast period. China has one of the biggest pharmaceutical industries in the world. Generic drugs, therapeutic drugs, active pharmaceutical ingredients, and traditional Chinese medicine are all made in this country. Most of the legally registered drugs in the country are generic. The pharmaceutical market in China is expected to reach 3 trillion CNY in the coming years. China is the largest chemical producer in the world. Additionally, China accounted for more than 35% of all chemical sales in the area. Due to the nation's expanding chemical and pharmaceutical industries, it is anticipated that the market under study will expand during the forecast period. The food processing industry is developing and growing at a steady pace. The growing demand for processed and packaged frozen foods, particularly dairy, baby food, and confectionery, is anticipated to drive growth in the food processing sector.

Europe is anticipated to grow at a CAGR of 5.69% during the forecast period. The biggest economy in Europe and the fourth largest overall in Germany. Germany was the top gas consumer in the EU in 2019, with daily consumption of 8.6 billion cubic feet of natural gas and 2.4 million barrels of petroleum products. Germany is the second-largest crude oil refinery in the European Union, with a capacity of 2.1 million b/d. During the forecast period, the market is expected to be driven by the dependability of fossil fuels and the rising demand for petroleum and related liquids. This country has the most significant pharmaceutical industry in all of Europe. It is also known as the "World's Pharmacy" on the global market. Due to the active involvement of numerous international pharmaceutical companies, it holds a significant position in the pharmaceutical market. The industry has a higher demand for the market under study due to the countless pharmaceutical firms and ongoing research to create new medications.

Key Highlights

• The global boiler water treatment chemicals market was valued at USD 3,539.6 million in 2022. It is expected to reach USD 6,355.9 million by 2031, growing at a CAGR of 6.72% during the forecast period (2023–2031).
• Based on type, the global boiler water treatment chemicals market is bifurcated into scale and corrosion inhibitors, coagulants and flocculants, pH boosters, and oxygen scavengers. The scale and corrosion inhibitors segment is the highest contributor to the market and is expected to grow at a CAGR of 7.14% during the forecast period.
• Based on application, the global boiler water treatment chemicals market is bifurcated into basic chemicals and blended/specialty chemicals. The blended/specialty chemicals segment is the highest contributor to the market and is expected to grow at a CAGR of 7.18% during the forecast period.
• Based on end-user industry, the global boiler water treatment chemicals market is bifurcated into power generation, steel and metal industry, oil refinery, chemical and petrochemical, textile and dye industry, sugar mill, pulp and paper, food and beverage, institutional, and pharmaceutical. The power generation segment is the highest contributor to the market and is expected to grow at a CAGR of 7.73% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 7.44% during the forecast period.

Competitive Players

Competitive Players

The global boiler water treatment chemicals market's major key players are AES Arabia Ltd, Buckman, ChemTreat Inc., Ecolab, Ion Exchange, Italmatch Chemicals (BWA Water Additives), Kurita Water Industries Ltd, Metito, Solenis, SUEZ, Thermax Limited, Veolia, and Wetico.

Recent Developments

Market News

• In July 2022, American Water Treatment, Inc. a leading provider of water treatment equipment, chemicals, consultation, and preventative maintenance services for a wide variety of end-market applications, announced that it was acquired by Water Engineering.
• In May 2022, The country’s first indigenous plant to make an important chemical compound called ‘hydrazine hydrate’ (HH) would become commercially operational through the Gujarat Alkalies & Chemicals Limited (GACL) in Vadodara.

Segmentation

Global Boiler Water Treatment Chemicals Market: Segmentation

By Type

• Scale and Corrosion Inhibitors
• Coagulants and Flocculants
• Ph Boosters
• Oxygen Scavengers

By Applications

• Basic Chemicals
• Blended/Specialty Chemicals

By End-User Industry

• Power Generation
• Steel and Metal Industry
• Oil Refinery
• Chemical and Petrochemical
• Textile and Dye Industry
• Sugar Mill
• Pulp and Paper
• Food and Beverage
• Institutional
• Pharmaceutical

By Regions

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa