The boiler water treatment chemicals market is projected to grow from USD 2.68 billion in 2017 to USD 4.35 billion by 2022
NEW YORK, Nov. 20, 2017 /PRNewswire/ -- "The boiler water treatment chemicals market is projected to grow at a CAGR of 10.1% from 2017 to 2022."
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The boiler water treatment chemicals market is projected to grow from USD 2.68 billion in 2017 to USD 4.35 billion by 2022, at a CAGR of 10.1% from 2017 to 2022. The increasing demand for chemically treated boiler water from various end users is expected to drive the growth of the boiler water treatment chemicals market across the globe during the forecast period. In addition, the growing demand for energy is also expected to propel the demand for boiler water treatment chemicals across the globe between 2017 and 2022. The deposits formation due to non-volatile nature of specific boiler water treatment chemicals is a major restraint for the growth of the boiler water treatment chemicals market.
"In terms of value, the corrosion inhibitors type segment of the boiler water treatment chemicals market is projected to grow at the highest CAGR during the forecast period."
In terms of value, the corrosion inhibitors type segment of the boiler water treatment chemicals market is projected to grow at the highest CAGR during the forecast period. Corrosion inhibitors are used for condensate line treatment in boiler systems to protect them from corrosion. As the temperature of water increases, the chances of corrosion also increases. Thus, to protect boiler systems from corrosion, corrosion inhibitors are used in various industries such as power, oil & gas, and chemical & petrochemical. With the growth of industrialization, especially in emerging countries, the consumption of these corrosion inhibitors is also increasing.
"The Asia-Pacific boiler water treatment chemicals market is projected to grow at the highest CAGR during the forecast period."
The Asia-Pacific boiler water treatment chemicals market is projected to grow at the highest CAGR during the forecast period. The growing number of automotive worldwide, increasing global population, rapid urbanization, which increases the demand for power in the region, in turn, increases the demand for boiler water treatment chemicals. In addition, the increasing scope of exploration of oil & gas and their production, easy availability of low-cost labor, and affordable raw material prices in the Asia-Pacific region are the factors fueling the growth of the boiler water treatment chemicals market during the forecast period.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
- By Company Type: Tier 1 - 25%, Tier 2 - 50%, and Tier 3 - 25%
- By Designation: C Level - 20%, Director Level - 30%, and Others - 50%
- By Region: North America - 20%, Europe - 30%, Asia-Pacific - 25%, South America - 15%, and the Middle East & Africa - 10%
The report profiles leading players in the boiler water treatment chemicals market that include BASF (Germany), Ecolab (U.S.), Kemira (Finland), Solenis (Finland), Kurita (Japan), SUEZ (France), Arkema (France). The report also includes competitive strategies adopted by these key players to strengthen their position in the boiler water treatment chemicals market.
RESEARCH COVERAGE
The objective of this study is to define, describe, and forecast the boiler water treatment chemicals market based on various segmentations and strategically analyze the market segments with respect to individual growth trends, growth prospects, and contribution to the total market. In this report, the boiler water treatment chemicals market has been segmented based on type, end-use industry, and region.
REASONS TO BUY THE REPORTThe report is expected to help market leaders/new entrants in this market in the following ways:
- This report comprehensively segments the boiler water treatment chemicals market and provides the closest approximations for the sizes of different market segments and subsegments across different verticals and regions.
- This report is expected to help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about new product launches, mergers, joint venture & acquisitions, investments & expansions, and agreements that have been undertaken by the key players to enhance their position in the boiler water treatment chemicals market.
Read the full report: https://www.reportlinker.com/p05208350
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