Global corrosion inhibitors market stood at USD8487.86 million in 2022 and is anticipated to increase at a CAGR rate of 4.11% through 2028, due to increasing demand from various end user industries including oil and gas, agriculture, and others.
Corrosion Inhibitors, also known as anti-corrosive, is a chemical composition which is mixed with liquid to lower the corrosion rate of a material. It is typically used on metal or alloy that comes across in contact with the fluid. It is a typical method of preventing corrosion that involves the enhancement of a coating and is frequently called a passivation layer, which blocks the access of the corrosive chemical to the metal. It is a preventative measure to make metal corrosion accessible and is deemed to be the first line of defence against corrosion.
Corrosion Inhibitors are used in various applications such as cooling water recirculation systems, oil production, oil refining, and acid pickling of steel components. Growing demand from oil & gas industries and water treatment systems are propelling the demand for corrosion inhibitors, globally.
Rising Demand of Corrosion Inhibitors for Water Treatment System
Increasing Demand from Various End User Industries
Growing Demand from Emerging Countries
The emerging demand for liquid corrosion inhibitors from growing economies such as Malaysia, China, Brazil, India, Indonesia, Chile, Argentina, and Vietnam are propelling market growth in the region. Firms are increasing their investment in R&D to develop innovative products like Clotrimazole and Fluconazole. Clotrimazole and Fluconazole are effective corrosion inhibitors for aluminium if exposed to Hydrochloric acid. Hence, such an initiative to find new products is expected to create lucrative market growth for corrosion inhibitors worldwide.
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Market Segmentation
Market Players
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Attribute
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Details
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Market size value in 2022
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USD 8487.86 Million
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Revenue Forecast in 2028
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USD 10733.33 Million
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Growth Rate
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4.11%
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, Volume
in million tons and CAGR for 2018-2022 and 2024-2028
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Report coverage
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Revenue forecast, Volume forecast, company
share, competitive landscape, growth factors, and trends
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Segments covered
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·
Type
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Composition
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Application
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Regional scope
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North America, Asia Pacific, Europe
& CIS, South America, Middle East & Africa
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Country scope
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United States, Canada,
Mexico, China, India, Japan, South Korea, Australia, France, Germany, United
Kingdom, Spain, Italy, Saudi Arabia, South Africa, UAE, Brazil, Argentina,
Colombia
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Key companies profiled
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Nouryan Chemicals Holdings B.V., BASF
SE, The Dow Chemicals Company, Ecolab, Inc., Lanxess AG, Cortec Corporation, Ashland
Global Holdings, Inc, The Lubrizol Corporation, Henkel AG & Co. KGaA, DuPont
de Nemours, Inc.
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Customization scope
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10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
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Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore
purchase options
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Delivery Format
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PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
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