Corrosion Inhibitors Market Overview: Size, Share, Current Trends And Future Aspect Analysis

Posted by Stephen Lobo on November 30th, 2022

Corrosion Inhibitors Market Overview

The latest report of Corrosion Inhibitors Market 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. Corrosion inhibitor is a chemical compound that, when added to a liquid or gas, decreases the corrosion rate of a material, typically a metal or an alloy. Corrosion inhibitors will remain one of the largest product segments within the water treatment chemicals market. The global corrosion inhibitors market size is projected to reach USD 10.1 billion by 2026 at a CAGR of 4.9% from 2021. The increasing demand for corrosion protection chemicals in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the market for corrosion inhibitors. The report also indicates a point-wise outline of market size, share, upcoming trends, demand, drivers, restraints, growth, Opportunity and expert reviews.

Driver: Increasing demand for treated water in various end-use segments

Restraint: Use of corrosion-resistant materials

Opportunity: Increasing industrialization in developing economies

Challenge: Need for eco-friendly formulations

Corrosion Inhibitors Market Top Key Players 

  • Nouryon (Amsterdam)
  • Henkel (Germany)
  • The Lubrizol (US)
  • BASF SE (Germany)
  • Ecolab Inc. (US)
  • Solenis LLC (US)
  • Baker Hughes (US)
  • The Dow Chemical Company (US)
  • Suez S.A. (France)

These market leaders have adopted various organic as well as inorganic growth strategies. Solenis, formerly known as Ashland Water Technologies, is one of the leading global producers of specialty chemicals for water-intensive industries, including pulp & paper, oil & gas, petroleum refining, chemical processing, mining, biorefining, power, and municipal. 

Baker Hughes is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain. It is one of the leading providers of oilfield services, products, technologies, and systems used in the oil & gas industry. Recently, GE (US) and Baker Hughes Inc. merged their oil and gas equipment and services operations. The company offers corrosion inhibitors in the oilfield services and equipment segment.

Corrosion Inhibitors Market Segmentation 

This research report categorizes the corrosion inhibitors market based on type, end-use industry, and region.

By Compound:

  • Organic corrosion inhibitors
  • Inorganic corrosion inhibitors

In terms of value, the organic segment is projected to account for the largest share of the corrosion inhibitor market, by compound, during the forecast period.

The power plants are designed on the presumption to be continuously operated for many years to come. Across the world, demand for reliable economic power has raised the need to operate these systems at full capacity and as low a cost as possible. 

By Applications:

  • Water Treatment
  • Process and Product Additives
  • Oil & Gas Production

By 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.

By End-use industry:

  • Oil & gas
  • Power generation
  • Chemicals 
  • Metals processing
  • Pulp & paper
  • Others (food & beverage, pharmaceuticals, hydrometallurgy, construction, automotive, aerospace)

Power generation is projected to register the highest CAGR during the forecast period.

The power plants are designed on the presumption to be continuously operated for many years to come. Across the world, demand for reliable economic power has raised the need to operate these systems at full capacity and as low a cost as possible. 

By Region:

  • APAC
  • Europe
  • North America
  • Middle East & Africa
  • South America

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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.

Table of Contents:

  • Executive Summary
  • Scope/opportunities of the Corrosion Inhibitors Market Report
  • Research Methodology
  • Corrosion Inhibitors Market Landscape
  • SWOT Analysis
  • Market Sizing
  • Corrosion Inhibitors Market Segmentation
  • Customer Landscape
  • Regional Landscape
  • Business Decision Framework
  • Drivers And Challenges
  • Corrosion Inhibitors Market Key Trends
  • Players Landscape
  • Players Analysis

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Stephen Lobo

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Stephen Lobo
Joined: November 18th, 2022
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