Geothermal Treatment Chemicals Market - Forecasts from 2025 to 2030

The geothermal treatment chemicals market is expected to grow at a compound annual growth rate (CAGR) of 4.37% growing from US$9.963 million in 2025 to US$12.340 million in 2030.

Geothermal power plants are essential in providing clean, affordable, and renewable energy by using hot water produced inside the earth to generate electricity. Here, geothermal treatment chemicals play an imperative role as these are efficiently used to protect geothermal systems from buildups such as interruptions and even blockages. Various chemicals are used in these geothermal water plants, such as polyacrylate, azoles, phosphonates, polyphosphates, and even polymaleic acid.

Market Trends:

• Rising Demand for Clean Energy Boosts Geothermal Market: The growing need for renewable energy sources is driving the geothermal market. According to Think Geo Energy, global geothermal power capacity reached 16,335 MW by the end of 2023, up by 208 MW from 2022. Geoplat.org's January 2024 data lists the top 10 countries-United States (3,900 MW), Indonesia (2,418 MW), Philippines (1,652 MW), Turkey (1,691 MW), New Zealand (1,042 MW), Kenya (985 MW), Mexico (976 MW), Italy (916 MW), Iceland (754 MW), and Japan (576 MW)-accounting for 93% of global capacity, with 20 other countries contributing 1,124 MW.
• Geothermal Deployment Enhances Global Energy Supply: The Intergovernmental Panel on Climate Change (IPCC) highlights geothermal energy's potential to meet over 3% of global electricity demand and 5% of heat demand by 2025. Geopolitical instability and climate concerns are accelerating the shift to sustainable energy, with geothermal efficiency playing a key role. Chemical treatments, such as those from Italmatch and Green Chemicals, address issues like corrosion and scaling in geothermal systems, supporting market growth for geothermal treatment chemicals.
• Asia-Pacific Leads Geothermal Treatment Chemicals Market: The Asia-Pacific region, driven by economies like China, Japan, India, and South Korea, as well as fast-growing ASEAN nations, will dominate the geothermal treatment chemicals market. In India, government initiatives are key drivers, with the Ministry of New and Renewable Energy (MNRE) launching the Indian Geothermal Energy Development Framework in September 2023. This aims to position India as a global leader in geothermal power, targeting 1,000 MW by 2022 and 10,000 MW by 2030, supported by projects to enhance nationwide geothermal resource utilization.

Some of the major players covered in this report include Italmach Chemicals S.p.A., Solenis LLC, Ecolab Inc., Kurita Europe GmbH, Roemex Limited, Buckman Laboratories International, Inc., Baker Hughes Company, Schlumberger Limited, among others.

Key Benefits of this Report:

• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
• Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The geothermal treatment chemicals market is segmented and analyzed as follows:

By Product

• Scale Control
• Corrosion Control
• Others

By Application

• Production & Reinjection Wells
• Flash Process
• Binary Process
• Dry Steam Process
• Cooling Water Systems

By Geography

• Americas
• United States
• Mexico
• Costa Rica
• El Salvador
• Nicaragua
• Europe Middle East and Africa
• Italy
• Kenya
• Iceland
• Russia
• Croatia
• Asia Pacific
• Indonesia
• Philippines
• Turkiye
• New Zealand
• Japan