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Growing demand of energy across the globe has led to substantial growth in power plants over the past few decades. Power plants require number of chemicals used in the power or energy generating process such as ammonia, hydrazine, sodium hypochlorite, softener, anti-sealant, biocide, flocculant and coagulant agent and among others. As in nuclear and thermal power plant, steam generation is involved however, water and fossil fuels such as coal, oil and natural gas are required as the feed since, pH level vary from source to source. The hardness level also varies from source to source, however chemicals are used as softeners here. Moreover, chemicals play a vital role to protect the equipment from corrosion, rancidity and rusting. Moreover, the consumption rate of chemicals in power plant is around 55 to 6000 tons annually.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the Global Power plant chemicals market.
One of the major factors responsible for the growth of power plant chemical is the rapid increase in requirement of electricity. Power plant need numerous chemicals for their operations, maintenance of boiler and turbines requires several chemicals however, and maintenance of power plant is also the major market for power plant chemicals. The financial support such as subsidies, loan and funds from government to construct power plant is positively influencing the market. To remove the scrap from power plants some chemicals are used. Green energy would act as restraint for the due to rise in air and water pollution by chemicals used in power plants.Â
In terms of market share, the Asia-Pacific region accounts for the major fraction of the global power plant chemical market because China and Japan have the highest number of power plants across the globe. The market in the Europe and North America region is also expected to witness growth next to Asia-Pacific. Moreover, France in Europe, Canada in North America, and China in Asia-Pacific are countries with highest number of power plants. Additionally, power plant market will grow at a significant pace because of the presence of technological advancement and high demand for electricity.
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Questions answered in the power plant chemicals market research report:
Power plant chemicals Market: Global Opportunity Analysis and Industry Forecast, 2021–2028 Report Highlights
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Key Market Players | Kemira Oyj, Solvay S.A., Dow Chemical Company, GAC Chemical, Vasu Chemicals., Nalco, A.S. Chemicals, Sahara Oil & Gas Services LLC, Himadri Chemicals & Industries Limited, AN Ecolab Company, GE Water Technologies, Classic Chemicals |
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