What is Corrosion Inhibitors Industry?
The corrosion inhibitors industry involves the development, production, and application of substances or compounds that are designed to prevent or reduce the rate of corrosion on metal surfaces. Corrosion is a natural process that occurs when metals are exposed to the environment, such as moisture, oxygen, and chemicals, and can lead to structural damage, failure of equipment and machinery, and safety hazards.
The corrosion inhibitors market size is projected to grow from USD 7.9 billion in 2021 to USD 10.1 billion by 2026, at a CAGR of 4.9% between 2021 and 2026. The global corrosion inhibitors market is expected to grow at a moderate rate during the forecast period, due to the increasing demand for corrosion inhibitors in various end-use industries. The growth of the corrosion inhibitors market is driven by the increasing infrastructure development and the need to protect metal structures from corrosion. In addition, the increasing demand for corrosion inhibitors in the oil and gas industry is expected to drive the market growth. Corrosion Inhibitors Market report shares analysis by Compound (Organic, Inorganic), Type (Water Based, Oil Based and VCI), Application, End-Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Region – Global Forecast to 2026.
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=246
Corrosion Inhibitors Market Key Players
There are many vendors in the corrosion inhibitors market. Some examples of companies that manufacture and sell corrosion inhibitors include:
- Solenis (US)
- Nouryon (The Netherlands)
- Baker Hughes Company (US)
- Ecolab (US)
- BASF SE (Germany)
- SUEZ Water Technologies & Solutions (France)
- DOW Chemical Company (US)
- Lubrizol Corporation (US)
- Lanxess (Germany)
- Henkel Corporation (Germany).
Corrosion Inhibitors Market Drivers and Restraints
Corrosion inhibitors are chemical compounds that are added to a system (such as a fuel, oil, water, or other liquid) to prevent or reduce the corrosion of metals. The global market for corrosion inhibitors is driven by a number of factors, including:
- Increasing demand for corrosion inhibitors in various end-use industries, such as oil and gas, chemical processing, power generation, and water treatment.
- Stringent regulations on the use of corrosion inhibitors in various industries, which has led to the development of more effective and environmentally friendly corrosion inhibitors.
- The growing use of corrosion inhibitors in the transportation sector, particularly in the automotive and aerospace industries.
- The increasing use of corrosion inhibitors in the construction and infrastructure sectors to protect against corrosion of steel and other metals in buildings, bridges, and other structures.
Download PDF: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=246
There are also several restraints that may impact the growth of the corrosion inhibitors market, including:
- The high cost of corrosion inhibitors, which can be a barrier to adoption in some industries.
- The potential environmental impact of corrosion inhibitors, as some chemicals used in corrosion inhibitors can be harmful to the environment.
- The availability of alternative methods for corrosion prevention, such as coatings and cathodic protection, which may be more cost-effective in some cases.
- The potential for corrosion inhibitors to interact with other chemicals in a system, which can affect their effectiveness and safety.
Corrosion Inhibitors Market Segmentation
Based on compound:
- Organic corrosion inhibitors
- Inorganic corrosion inhibitors
Based on applications
- Water Treatment
- Process and Product Additives
- Oil & Gas Production
Based on the type:
- Water-based Corrosion Inhibitors
- Oil-based Corrosion Inhibitors
- Volatile Corrosion Inhibitors
Volatile Corrosion Inhibitor is projected to be the fastest-growing market, based on type.
Volatile Corrosion Inhibitors (VCI) will register the highest CAGR for the type segment of corrosion inhibitor market, during the forecast period. VCIs work by changing the pH of the outside atmosphere to less acidic conditions to regulate corrosion. Examples include morpholine and hydrazine, which are used to control the corrosion of the condenser pipes in boilers. Key industrial applications are polymer films, paper, foam, powder and oil, and grease industrial applications.
View Full Report with TOC & List of Figure: https://www.marketsandmarkets.com/Market-Reports/Study-Corrosion-Inhibitor-Market-246.html
Based on the end-use industry:
- Oil & gas
- Power generation
- Metals processing
- Pulp & paper
- Others (food & beverage, pharmaceuticals, hydrometallurgy, construction, automotive, aerospace)
Based on the region:
- North America
- Middle East & Africa
- South America
The Middle East & Africa region is the second fastest-growing region for the corrosion inhibitor market, in terms of value.
The region has emerging markets, such as Saudi Arabia, the UAE, Iran, Kuwait, and South Africa. The region has established oil & gas and chemical & petrochemical industries due to the abundant availability of natural resources.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441