North America Cooling Water Treatment Chemicals Market Key Companies and Analysis by 2030

The North America cooling water treatment chemicals market size is expected to grow from US$ 2,978.97 million in 2022 to US$ 4,727.84 million by 2030; it is expected to register a CAGR of 6.1% from 2023 to 2030.

Market Insights and Analyst View:

Cooling water treatment chemicals help in removing unwanted, harmful bacteria from cooling systems. They are mainly used for protecting the system from corrosion, and control scale formation and fouling, in addition to prohibiting the growth of harmful bacteria. The North America cooling water treatment chemicals market is growing at a significant pace with the increasing demand due to the stringent regulations by the government on the conservation of water and wastewater management. Furthermore, the rising need for fresh water in several industries is likely to drive the market growth in this region.

Growth Drivers and Challenges:

The chemicals used in various industries for water treatment harm the environment to a great extent and lead to severe health hazards among people exposed to them. Industries are seeking ways to improve their operations and make them eco-friendly. Rising awareness about global warming and other environmental issues has forced several industries to shift their focus toward safer options. This has encouraged manufacturers of water treatment chemicals to innovate and develop more sustainable and reliable products. Green chemicals are extracted from vegetables and renewable feedstock, and they make use of the chemical and colloidal properties of certain plant extracts. They are devoid of harmful side effects to humans and are biodegradable. Moreover, they have functionality that is equivalent to synthetic ones. Thus, manufacturers providing water treatment chemicals are expanding their product lines with these green chemicals. For example, Thermax Limited, an engineering company involved in energy and the environment, offers a range of green scale and corrosion inhibitors, oxygen scavengers, and neutralizers for boiler water and cooling water treatment.

Continuous chlorination can affect non-target organisms in once-through cooling frameworks, which can disrupt the population of some of the valuable organisms. Industrial facilities must dechlorinate their cooling water before release to adhere to discharge water quality standards. This requires the feed of a reducing agent, e.g., sodium bisulfite, into the emission, which adds extra cost to the process. Asa result, companies have shifted their focus to chlorine alternatives for cooling water treatment. Bromine, bromo- chloro-dimethyl-hydantoin (BCDMH), sodium hypochlorite, chlorine dioxide, and ozone are among the popular chlorine alternatives used in this process. They are cost-effective, more stable, and safer than chlorine, and they exhibit a wide scope of applications. Thus, the growing inclination toward chlorine alternatives hinders the cooling water treatment chemicals market to a certain extent.

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North America Cooling Water Treatment Chemicals Market: Strategic Insights

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Report Segmentation and Scope:

The “North America Cooling Water Treatment Chemicals Market” is segmented based on type, end-use industry, and geography. Based on type, the cooling water treatment chemicals market is segmented into corrosion inhibitors, scale inhibitors, biocides, and others. Based on end-use industry the cooling water treatment chemicals market is segmented into power; steel and mining & metallurgy; petrochemicals and oil & gas; food & beverages; textiles; and others. The cooling water treatment chemicals market based on geography is segmented into North America (US, Canada, and Mexico).

Segmental Analysis:

Based on type, the cooling water treatment chemicals market is segmented into corrosion inhibitors, scale inhibitors, biocides, and others. Based on end-use industry the cooling water treatment chemicals market is segmented into power; steel and mining & metallurgy; petrochemicals and oil & gas; food & beverages; textiles; and others. The power segment held the significant share in the cooling water treatment chemicals market and mining & metallurgy segment is expected to register the significant growth over the forecast period. The power industry is the largest consumer of cooling water treatment chemicals owing to the high-water requirement of the industry and the need to preserve freshwater resources. Water is utilized in high-pressure boilers, turbines, and cooling towers to generate power. Water treatment is a crucial procedure for the power industry. High-virtue water guarantees legitimate activity of the steam age framework, and lessens blowdown recurrence and utilization of heater synthetic substances. Effective cooling water treatment is necessary for ensuring maximum profitability and nonstop activity of the power industry. Moreover, power industries involving nuclear and thermal plants often use seawater for cooling and are equipped with anticorrosion heat exchange equipment. The increasing number of nuclear plants across the region, coupled with the need to maintain the existing plants, is expected to propel the demand for cooling water treatment chemicals in the coming years.

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Country Analysis:

Based on geography, the cooling water treatment chemicals market is divided into three key countries: the US, Canada, and Mexico. The North America cooling water treatment chemicals market is dominated by the US which accounted for 2,978.97 million in 2022. Canada is a second major contributor holding more than 13% share in the North America market. Mexico is expected to register the considerable growth at a CAGR of 6.3% over the forecast period. The power and food & beverages industries are the major consumers of cooling water treatment chemicals in Canada. Canada has well-established food & beverages and power generation industries. The country is home to leading food and beverage industrial players and ~6,500 food and beverage processing companies in total. Top food & beverage industry players having strong presence in Canada include Kellogg’s, Quaker, Nestle, Pepsico, Molson, McCain, Maple Leaf, Saputo, and Lassonde. Therefore, the flourishing food & beverages and power industries are likely to continue to propel the growth of the cooling water treatment chemicals market in Canada in the future.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the cooling water treatment chemicals market are listed below:

1. In November 2022, Albemarle Corporation announced planned investments of up to US$540 million to expand and modernize two bromine facilities in Magnolia, Arkansas, designed to meet the growing demand for fire safety and specialty products in several industries, including technology, safety, transportation, and green energy.
2. In April 2019, Chemtreat, Inc. opened new applied technology laboratory in Ashland, Virginia. Its 25,000-square-foot facility will be built across the street from an existing ChemTreat manufacturing plant in the Hanover County Airpark. This laboratory will provide advanced capabilities to support ChemTreat’s global base of industrial water treatment customers with industry-leading water analysis.

Covid-19 Impact: 

The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel restrictions, and business shutdowns. The chemical & materials industry suffered serious disruptions in supply chains and shutdowns of production plants in the initial phases of the pandemic. The shutdown of manufacturing plants in leading countries in North America, Europe, and Asia Pacific disrupted the supply chains, manufacturing, delivery schedules, and goods sales. Further, various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various countries in Europe, Asia, and North America on international travel compelled enterprises to temporarily suspend their collaboration and partnership plans. All these factors hampered the chemical & materials industry growth in 2020 and early 2021, thereby restraining the growth of various markets related to this industry such as cooling water treatment chemicals market.

Before the emergence of the COVID-19 pandemic, the cooling water treatment chemicals market in North America was mainly driven by factors such as the high demand from industries such as food & beverages, oil & gas, textile, steel, and power. The COVID-19 outbreak in North America hampered the operations of these industries. Raw material and labor shortages due to supply chain disruptions caused by lockdowns and trade bans halted the production of various packaged food and beverages. Due to the shortage of raw materials, there was a sudden spike in their prices, which negatively impacted the pricing strategies of various small-scale and large-scale players operating in the North America cooling water treatment chemicals market. The manufacturers were forced to shut down their manufacturing plants, which created supply challenges and widened the demand–supply gap. All these factors hampered the chemical & materials industry growth in 2020 and early 2021, thereby restraining the growth of various markets related to this industry such as the cooling water treatment chemicals market. The market was also hampered by disrupted supply chains and limited operational efficiencies. In March 2020, US crude oil production fell by 8%, recording the largest annual decrease in the US. The oil prices decreased because of the sudden drop in the demand for petroleum amid the social restrictions imposed by governments.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the North America cooling water treatment chemicals market include Accepta, Albemarle Corporation, Buckman, Chemtex Speciality Limited, ChemTreat, Inc., DuBois Chemicals, Ecolab, Veolia Water Technologies, Kemira Oyj, and Kurita Water Industries LTD among others. These market players are highly focused on developing innovative products to serve their customers better.

North America Cooling Water Treatment Chemicals Report Scope