Market Trends of North America Boiler Water Treatment Chemicals Industry
This section covers the major market trends shaping the North America Boiler Water Treatment Chemicals Market according to our research experts:
Power Industry to Dominate the Market
- Power plants utilize a large amount of water, primarily for the proper operation of turbines with the generation of heat and is the major consumer of boiler water chemicals.
- Power industries, such as thermal and nuclear plants often require chemicals to inject feed water into the boiler system.
- In the nuclear industry, the heat generated due to nuclear fission is used to produce steam from water in the boiler, which is used to drive a steam turbine.
- In thermal power plants, a boiler or steam generator is an integral device used to produce steam. This steam is then piped to the turbine of the thermal power plant.
- The energy generated by the nuclear plants in the region has been consistently growing over the past decade. There are also plans to launch new nuclear reactors in the near future.
- Hence, owing to the above-mentioned factors, power industry is expected dominate the market studied during the forecast period.
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United States to Dominate the Market
- Among the North American countries, currently, the United States accounts for the major share of the market studied owing to the high demand from end-user industries like power, oil, food, paper, etc.
- The United States is the second-largest paper producer in the world. The world's largest pulp and paper mill is in Memphis, Tennessee, and is owned by International Paper. The country also exports large amounts of pulp & paper related products to various countries, globally.
- The United States operates the most nuclear reactors, has the largest installed nuclear power capacity, and generates the most nuclear power globally.
- The food & beverage industry is the major part of the country's economy. The industry consists of about 27,000 organizations and employs almost 1.5 million people. Though the growth in the industry is slower, the market is more stable than other manufacturing industries.
- The high abundance of shale gas and ethane are driving the petrochemical industry in the country. Taking advantage of the shale revolution, chemical companies and integrated oil companies are now announcing billions of investments in new petrochemicals plants and manufacturing ventures, over the next few years. This is expected to increase the growth in the demand for boiler water treatment chemicals, during the forecast period.
- Owing to the above-mentioned trends in the end-user industries, United States is likely to dominate the North America water treatment chemicals market during the forecast period.
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