The Global Scale Inhibitors Market is poised to reach USD 3,195.0 million by 2023, according to the latest market report by Market Research Future (MRFR). It can balloon from its previous estimated size of USD 2,428.2 million in 2017, growing at a CAGR higher than 4.5% over the forecast period (2018-2023). The market growth is influenced by the expanding sectors of construction, mining, desalination, power, and oil & gas. Other important market drivers include immense demand for huge volumes of water in power plants, scale inhibitors in the energy sector, and a sharp increase in hydraulic fracturing.
Scale Inhibitors Market – Segmental Analysis
MRFR’s report states that the global market is segmented on the basis of type and application.
By type, the market is segmented into phosphates, sulfonates, carboxylate/acrylates, and others. The phosphonates segment accounted for a large market share in 2017. It is expected to exhibit a 4.29% CAGR during the review period owing to its heavy demand in end-use industries.
Major market applications include oil & gas, mining, power, paper mills, petrochemicals, and others. The power segment can display a 4.6% CAGR over the forecast period due to rising investments in the sector. It had accounted for 26.67% share of the market in 2017. The demand of scale inhibitors can rise in the segment owing to its need for treated water. The oil & gas segment will be the second-largest owing to investments in deepwater and ultra-deepwater exploration activities in the South China sea and presence of large oil reserves in the Gulf of Mexico.
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American Water Chemicals, Inc. (U.S.), Solenis (U.S.), Arkema SA (France), Kemira Oyj (Finland), SUEZ (France), BASF SE (Germany), Ecolab (U.S.), Clariant (Switzerland), BWA Water Additives (U.S.), and DowDuPont (U.S.), are some of the key companies operating in the scale inhibitors market. New product development, innovation of new biodegradable chemicals, and expansion to developing economies are prime strategies of the players. This is exemplified by the display of antiscalant products for water reservoirs showcased by DowDuPont at the Abu Dhabi International Petroleum Exhibition and Conference in 2017
The Global Scale Inhibitors Market covers the latest trends in Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East & Africa (MEA).
The APAC market is expected to expand at a 5.38% CAGR during the forecast period. The push for water treatment of the surrounding rivers by governments, awareness of water & wastewater treatment, and rapid urbanization in India and China are factors expected to bolster market demand during the review period. The Namami Gange Programme is a prime example which requires antiscalants for meeting the demand for potable water. China can contribute the maximum to the Scale Inhibitors Market owing to the rise in rude oil production. It can touch an estimated size of USD 727.5 million by 2023. Japan is the second-largest contributor to the market. It can exhibit a 4.56% CAGR over the forecast period.
Europe accounted for the second-largest share of the global market in 2017 owing to the demand from power and wastewater treatment sectors. Germany accounted for 25.6% share of the European market and touted to grow at a 2.50% CAGR during the review period.
The North America region can exhibit a strong growth rate owing to the shale gas exploration activities. In the region, the U.S. accounted for the largest share and will maintain its dominance as the leading contributor.
The MEA scale inhibitors market is predicted to register a 5.61% CAGR over the forecast period owing to the pressing demand for crude oil. On the other hand, the Latin America can exhibit a modest growth rate thanks to the expanding petrochemicals, oil & gas, and power industries.
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This post was originally published on Trading Herald