The market for cooling water treatment chemicals in India is expected to grow at a CAGR of above 8% during the forecast period. Increasing demand from the power industry is a major driving factor for the market studied. However, the increasing popularity for chlorine alternatives is restraining the demand for water treatment chemicals in the country.
- Among the end-user industries, power sector accounts for the largest market share and is likely to dominate the market during the forecast period.
- Shifting Focus toward the Usage of Green Chemicals is expected to provide a major growth opportunity to the market studied in the future.
- Among the product types, corrosion inhibitors are expected to account for the highest market share and is likely to dominate the market during the forecast period.
Key Market Trends
Corrosion Inhibitors to account for the highest market share
- Corrosion inhibitors are the majorly used water treatment chemicals in the cooling water treatment industry. The use of corrosion inhibitors in cooling water systems improves efficiency of the system, thus facilitating maximum heat transfer, improving process throughput, and reducing the downtime for cleaning, helping the system to run for a longer time.
- Corrosion inhibitors are designed to ensure metal protection and prevent metal loss, which may lead to critical system failures in recirculating water piping, process cooling equipment, and heat exchangers. Corrosion inhibitors are added to treatment systems, in order to protect metals by reducing the corrosion potential associated with cathode and anode of the corrosion cell.
- Corrosion inhibitors are a crucial element in all industries where water treatment is needed. The power industry is the major consumer of corrosion inhibitors, followed by steel and mining and metallurgy.
- India is the second-largest oil refiner in Asia-pacific and the oil production of the country is likely to witness major growth in the coming years. Additionally, owing to the, growing population and the technological advancements, the demand for power is also significantly growing which is likely to boost the power generation in the country.
- Hence, owing to the increasing demand from the above-mentioned end-user industries, corrosion inhibitors is likely to dominate the market.
Power Industry to Dominate the Market
- India’s power sector consists of conventional sources, ’such as coal, hydro, and nuclear power’ to non-conventional sources, such as wind, solar, and agriculture & domestic waste.
- Power industries, such as thermal and nuclear plants, often use seawater for cooling and are equipped with anti-corrosion heat exchange equipment. The demand for cooling water treatment chemicals is increasing, particularly in open-recirculating (in cooling towers), closed-loop, and once-thru systems, in order to maximize the heat transfer efficiency in the heat exchange equipment.
- Electricity demand in the country has been consistently increasing, owing to growing industrialization & urbanization, and population.
- Hence, owing to the above-mentioned factors, power industry is likely to dominate the market during the forecast period.
The India cooling water treatment chemicals market is moderately fragmented, with the major players accounting a significantly low share of the market. Key players in the market studied include Suez, Ecolab, Solenis, Chemtex specialty limited, and Kemira, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support