Global Corrosion Inhibitors Market, By Product (Organic and Inorganic), Application (Water-Based and Solvent/Oil-Based), End-Use Industry (Power Generation, Oil and Gas, Chemical Processing, Metal Processing and Others), Corrosive Agent (Oxygen, Hydrogen Sulfide and Carbon Dioxide), Corrosion Type (Uniform or General Corrosion, Galvanic Corrosion, Localized Corrosion, Stress Corrosion Cracking (SCC) and Erosion Corrosion), Inhibitor Type (Passivating Inhibitors, Volatile Inhibitors, Cathodic Inhibitors, Anodic Inhibitors, Mixed Inhibitors, Synergistic Inhibitors, Precipitation Inhibitors, Green Corrosion Inhibitors and Adsorption Action Inhibitors), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Corrosion Inhibitors Market
Data Bridge Market Research analyses that the corrosion inhibitors market will witness a CAGR of 4.50% for the forecast period of 2022-2029. Growth in the demand for corrosion inhibitors especially in the developing economies like India and China, growing use of corrosion inhibitors for a wide range of end user applications such as power generation, chemical processing and other end user applications, increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the corrosion inhibitors market.
From the name itself, it is clear that corrosion inhibitors are the chemicals that are applied to the surfaces of metals to prevent them from getting corroded or rusted. Corrosion inhibitors are available in all kinds of forms, namely, gaseous, liquid, powdered and solid.
Rise in demand for corrosion inhibitors by the oil and gas industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for corrosion inhibitors such as in the metal and metal processing and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Rising number of power plants, increasing crude oil production, increasing buildings and construction projects in the developing economies, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High costs associated with research and development proficiencies, strict environmental regulations imposed by the government coupled with geopolitical issues, disposal of harmful materials such as zinc, chromium, and phosphorus and strict global trade restrictions will dampen the market growth rate.
This corrosion inhibitors market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on corrosion inhibitors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Corrosion Inhibitors Market Scope and Market Size
The corrosion inhibitors market is segmented on the basis of product, application, end-use industry, corrosive agent, corrosion type and inhibitor type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the corrosion inhibitors market is segmented into organic and inorganic. Organic segment is sub-segmented into benzotriazole, tolyltriazole, mercaptobenzothiazole, amines and phosphonates. Inorganic segment is sub-segmented into nitrites and nitrates, chromates, DI chromates and borates, molybdates, zinc sulfate and other salts, silicates and polyphosphates.
- The application segment for corrosion inhibitors market includes water-based and solvent/oil-based.
- Based on end-use industry, the corrosion inhibitors market is segmented into power generation, oil and gas, chemical processing, metal processing and others.
- On the basis of corrosive agent, the corrosion inhibitors market is segmented into oxygen, hydrogen sulfide and carbon dioxide.
- On the basis of corrosion type, the corrosion inhibitors market is segmented into uniform or general corrosion, galvanic corrosion, localized corrosion, stress corrosion cracking (SCC) and erosion corrosion. Uniform or general corrosion segment is sub-segmented into atmospheric corrosion, high-temperature corrosion, liquid-metal corrosion, molten-salt corrosion, biological corrosion and stray-current corrosion. Localized corrosion segment is sub-segmented into crevice corrosion, filiform corrosion, pitting corrosion and intergranular corrosion.
- On the basis of inhibitor type, the corrosion inhibitors market is segmented into passivating inhibitors, volatile inhibitors, cathodic inhibitors, anodic inhibitors, mixed Inhibitors, synergistic inhibitors, precipitation inhibitors, green corrosion inhibitors and adsorption action inhibitors. Adsorption Action inhibitors segment is sub-segmented into chemisorption and physical adsorption.
Global Corrosion Inhibitors Market Country Level Analysis
The corrosion inhibitors market is analysed and market size, volume information is provided by country, product, application, end-use industry, corrosive agent, corrosion type and inhibitor type as referenced above.
The countries covered in the corrosion inhibitors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the corrosion inhibitors market owing to the increase in the research and development activities and presence of significant oil and gas reserves in the region. Asia-Pacific will continue to undergo substantial gains during the forecast period owing to the high economic growth in the emerging countries, surging urbanization and industrialization, growing spending on construction from the public and private sector in the countries such as India, China, and Indonesia and abundant availability of raw materials.
The country section of the corrosion inhibitors market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Corrosion Inhibitors Market Share Analysis
The corrosion inhibitors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to corrosion inhibitors market.
Some of the major players operating in the corrosion inhibitors market report are Advance Products & Systems, LLC., Akzo Nobel N.V., Air Products and Chemicals, Inc., Champion Technology Services, Inc., ICL, SUEZ, Daubert Cromwell, Inc., Dai-ichi India Pvt Ltd, Solvay, ChemTreat, Inc., Aegion Corporation, Kurita Water Industries Ltd., Kemira, The Lubrizol Corporation, Milacron, Ecolab, QED Chemicals Ltd, Eastman Chemical Company, SHAWCOR, Ashland., Corrosion Technologies., and BASF SE among others.