Market Trends of Europe Boiler Water Treatment Chemicals Industry
Power Generation To Dominate the Market
- The power generation industry controls most European boiler water treatment chemicals market. The electric power generation industry is a major producer of industrial wastewater.
- Its effluent is contaminated with dangerous metal pollutants such as lead, mercury, arsenic, chromium, and cadmium. These contaminants, if not well controlled, can cause significant environmental harm.
- Electricity is in high demand throughout Europe, particularly in Germany, France, and the United Kingdom. The power production industry's boiler water treatment chemicals consumption is projected to increase as the electricity demand continues to rise.
- According to the International Energy Agency's (IEA) monthly figures, total electricity production in Europe in February 2023 was 284.756 TWh, while total electricity production in the first two months of 2023 was more than 602 TWh.
- The IEA also showed that renewable energy produced the most power, accounting for 59.25 TWh of electricity produced in February 2023, followed by nuclear energy (53.71 TWh) and wind energy (50.78 TWh).
- According to the European Union Council, the EU produced 2,641 TWh of electricity in 2022. Nearly 40% of this was derived from renewable sources. Nuclear energy accounted for more than 20%, with fossil fuels accounting for 38.6%. Gas was the most often utilized fossil fuel to create power (19.6%), followed by coal (15.8%).
- Hence, the power generation industry will likely dominate the market during the forecast period due to the abovementioned factors.
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United Kingdom to Dominate the Market
- Due to considerable demand from end-user sectors, the United Kingdom includes the highest share of the European boiler water treatment chemicals market.
- Environmental and human health protection is vitally important in the United Kingdom. Its importance resulted in effective water and wastewater treatment systems and practically all wastewater in Germany is treated to satisfy the highest European Union standards.
- The food and beverage industry, chemical manufacture, and power generation are well-established sectors in the United Kingdom that would boost the use of boiler water treatment chemicals in the future.
- According to the International Energy Agency (IEA), the total electricity production in the United Kingdom in February 2023 was about 24.19 TWh. Moreover, the total electricity production in 2022 was about 318.38 TWh in the United Kingdom.
- Moreover, the total crude steel production in the country accounted for 5.96 million tons of crude steel during the year 2022, as stated by the World Steel Association.
- According to the Office for National Statistics (United Kingdom), consumer spending on food and non-alcoholic drinks in the United Kingdom reached GBP 126.73 billion (USD 156.7 billion) in 2022, approximately 3.2% more than the previous year's consumption.
- Thus, the United Kingdom will likely dominate the European boiler water treatment chemicals market during the forecast period due to the abovementioned factors.
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