According to the latest market research study released by Technavio, the global boiler water treatment market is expected to grow at a CAGR of more than 3% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global boiler water treatment market based on end-user type:
Global boiler water treatment market share by end-user type 2015
|
Chemicals industry |
28.84% |
|
Power industry |
22.20% |
|
Food and beverage processing industry |
19.55% |
|
Refining and petrochemicals industry |
18.41% |
|
Metals industry |
4.44% |
|
Paper industry |
4.34% |
|
Textile industry |
2.22% |
Source: Technavio
The top three contributing end-user segments are discussed below:
Global boiler water treatment market in chemicals industry
The chemicals industry occupied the highest share in the global boiler water treatment market, accounting for around 29% of the total market share. The broad inclusions in the chemical industry are consumer products, commodity chemicals, specialty chemicals, basic chemicals, pharmaceutical chemicals, and agricultural chemicals. Regional as well as international events and trends are the key factors influencing the chemicals industry.
“The chemical industry is highly influenced by the economic health of countries. Its growth is related to the GDP of nations. The main reason for this is the use of chemicals as raw materials in the manufacturing sector of supply chains. The industry is also dependent on the oil and gas prices, as the feedstock for the industry is mostly derived from oil and gas,” says Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on water and waste management.
On the supply side, the chemicals industry is susceptible to raw material prices, and on the demand side, the industry is influenced by the economic condition of countries. Therefore, the demand from manufacturing industries influence the growth of the chemicals industry. Owing to the oil sands and shale oil and gas revolutions in North America, vendors in the chemicals industry could get their feedstock at lower prices.
Global boiler water treatment market in power industry
Power is one of the most important industries worldwide and a major end-user of boilers. In any power plant, fuel is used to produce heat, which, in turn, is used for boiling water in a boiler. Following this, the boiler generates steam under pressure that is used to harvest electricity. The global demand for electricity has been rising with the expansion of the global economy, and this trend is expected to continue. A rise in the global GDP reflects on the overall increase in the manufacturing industry and the per capita consumption of energy resulting in an increase in the global electricity demand.
The growing requirement for additional power generation capacities activated by an increase in electricity demand, along with replacement and renovation of incompetent technologies and existing plants will drive the global power boiler market. Stringent rules like the maximum achievable control technology (MACT) regulations imposed by the US Environmental Protection Agency (EPA) to control greenhouse gas (GHG) and hazardous air pollutant (HAP) emissions are encouraging the shift from coal-based boilers to natural gas and biomass-powered boilers. Technavio expects thermal power plants to attract most investments among the electricity generating assets in emerging markets such as China, South Africa, Vietnam, India, and Indonesia. With the rise in the number of boilers used for power generation, the quantity of associated water treatment systems will also increase.
Global boiler water treatment market in food and beverage processing industry
Boilers are used in the food and beverage processing industry for producing steam. In food processing plants, the steam that needs to be in direct contact with the food should be of high quality. Thus, volatile corrosion inhibitors cannot be used for the water treatment systems of boilers in food processing plants. The food and beverage processing industry is usually not affected by the economic downturn.
The top leading vendors operating in the global boiler water treatment market are:
- ChemTreat
- GE Power
- Lenntech
- Nalco
- Veolia Water Technologies
Other prominent vendors in the market include AkzoNobel, B&V Group (SUEZ), BASF, Chem-Aqua, Clarity Water Technologies, Dew Speciality Chemical, Garratt-Callahan, and Kurita Water Industries.
A more detailed analysis is available in the Technavio report titled, ‘Global Boiler Water Treatment Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Water Treatment Equipment Market 2016-2020
- Global Packaged Wastewater Treatment Market 2016-2020
- Global Industrial Biomass Boiler Market 2016-2020
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