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Global Corrosion Inhibitors Market by Product (Organic, Inorganic), by Type (Water Based, Oil Based) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CHM-73502
  • Author: Up Market Research
  • Rating: 4.8
  • Total Reviews: 96
  • No. Of Pages: 244
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global corrosion inhibitors market was valued at USD 7.4 Billion in 2019. It is projected to grow at a compound annual rate (CAGR), 3.8% between 2020 and 2027. The development of more environmentally-friendly and biobased corrosion inhibitors is responsible for the market's growth. The market could shift towards the development of environmentally-friendly corrosion inhibitors, which may lead to sustainable development. This will also increase acceptance of corrosion inhibitors by sustainable end users. The corrosion inhibitor works by creating a protective layer on the surface to prevent moisture from causing erosion. Interfacial activity and cathodic activities are some of the mechanisms that organic products use.

Anodic, cathodic, anion exchange and saponification are all examples of inorganic product mechanism. Research played an important role in the development and application of corrosion inhibitors. Numerous product innovations have characterized the market, many of which are the result of R&D by manufacturers to improve product performance.

The market has been affected by regulations from the U.S. government regarding the toxicity of corrosion inhibitors, in addition to rising corrosion costs. Although many water systems in the country use phosphate-infused products, there are limitations to their use. The limitation is further exacerbated by factors such as their impact on wastewater treatment plants or reactions with aluminum.

Product Insights

In 2019, the organic segment held the largest market share at 73.8%. Bio-based corrosion inhibitors have seen significant progress in recent years. These organic compounds are inexpensive, low-toxicity, and readily available. They can be obtained from plant extracts, such as spices, herbs, and medicinal plants. Bio-based corrosion inhibitors are aromatic compounds with long aliphatic chain lengths and free electron pairs. Delonix regia, rosemary leaves, and natural honey, for example, prevent the deterioration or oxidation of aluminum metal. These factors are expected to drive segment growth during the forecast period.

One of the most common and simple ways to increase a metal's passivity is by coating it with inorganic inhibitors. Inorganic corrosion inhibitors are most commonly used by chromate (nitrate), molybdate and phosphate as well as silicate salts, mercury, platinum, palladium and rhodium. Platinum, palladium and rhodium are all members of the platinum group. They are stable thermodynamically across the pH range because they aren't attacked by non-oxidizing acids and don't corrode in moist air. Inorganic corrosion inhibitors have been shown to significantly increase product demand.

Type Insights

In 2019, the market share for water-based products was 56.2%. Water-based corrosion inhibitors dissolve easily in water and are often sold in solid form. They create a protective layer on the metallic surface by altering its physical characteristics to resist oxidation. They are also cost-effective and form a transparent coating upon drying.

Because of their hydrophobic and massive film formation, oil-based corrosion inhibitors are preferred for protection in extreme environmental conditions and long-term protection. The structure of thick coatings, which prevent water from coming into contact with metal surfaces, is what they rely on. They are the most cost-effective way to prevent corrosion because they permit one to use less costly metals, salts, and organic compounds in a corrosive environment.

End-use Insights

Oil and gas held 33.1% of the market in 2019, which was the largest share. This is due to rising corrosion issues in oil and gas pipelines, refineries, petrochemical plants, and other industrial facilities. Due to rapid industrialization and urbanization, the corrosion inhibitors market is growing in popularity in power generation in developing countries in the Asia Pacific region. Erosion has been a major factor in power plant downtime. Because the metal components of steam circuits in hydropower, nuclear, and thermal plants are constantly in direct contact with water, they are vulnerable to deterioration. Power plants monitor parameters like pH value, conductivity, as well as the presence of corroding ions and cations to ensure power generation is efficient. These parameters indicate the rate of corrosion. They also ensure that the proper amount of corrosion inhibitors like phosphonates and phosphate (for steel) or triazoles (for Copper) is present.

Also, pulp and paper manufacturing processes are exposed to highly corrosive environments. Equipment like paper making machines, storage tanks, digesters, recovery boilers and bleachers are then exposed to water and air. The bleaching process is used to brighten and whiten pulp for paper making. It produces wastewater that contains chlorinated compounds like dioxins. This can significantly damage the materials in contact, increasing the likelihood of pitting corrosion in expensive equipment. The pulp and paper industry is in high demand for corrosion inhibitors.

Regional Insights

Asia Pacific accounted for 36.3% of the global market in 2019, and will continue to grow rapidly. Rapid industrialization has led to a significant increase in demand for power generation and other end-use industries. In the near future, the market will be impacted by the growth of the chemical and metalworking industries in the developing economies in the region, such as India and China.

Europe is a major consumer of corrosion inhibitors due to its large consumption of water in industrial sectors like sugar, ethanol, and petrochemical production. Europe's water treatment problems play a crucial role in determining the corrosion control operations. They also help to maintain the operational integrity and energy efficiency of heat transfer equipment.

Market Share Insights & Key Companies

With a high level of competition in the market, there are a lot of key players and high demand from end users. To increase their revenue and strengthen their base, key players are focusing on custom production using the latest technology. The market is characterized by manufacturers that are integrated throughout the value chain. Arkema, for example, is integrated backwards by using renewable raw material as production. However, The Lubrizol Corporation has a forward-integrated approach. PowerZol 9548A is used by the company to make fuel additives. Cortec Corporation uses their Migratory Corrosion Inhibitors to produce several strength-release components as well as coating products. SUEZ also supplies corrosion inhibitors to several water treatment plants. The market for corrosion inhibitors is dominated by the following players:

  • Nouryon

  • Cortec Corporation

  • Ashland

  • Ecolab

  • Henkel Iberica, S.A.

  • The Lubrizol Company

  • BASF SE

  • Dow

  • DuPont de Nemours, Inc.

  • Baker Hughes LLC, a GE Company LLC

Up Market Research published a new report titled “Corrosion Inhibitors Market research report which is segmented by Product (Organic, Inorganic), by Type (Water Based, Oil Based), By Players/Companies DuPont de Nemours Inc, Henkel Ib©rica SA, Baker Hughes a GE company LLC, The Lubrizol Company, Ecolab, Dow, Cortec Corporation, Nouryon, BASF SE, Ashland”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleCorrosion Inhibitors Market Research Report
By ProductOrganic, Inorganic
By TypeWater Based, Oil Based
By CompaniesDuPont de Nemours Inc, Henkel Ib©rica SA, Baker Hughes a GE company LLC, The Lubrizol Company, Ecolab, Dow, Cortec Corporation, Nouryon, BASF SE, Ashland
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages244
Number of Tables & Figures171
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Corrosion Inhibitors Industry Outlook

Global Corrosion Inhibitors Market Report Segments:

The market is segmented by Product (Organic, Inorganic), by Type (Water Based, Oil Based).

Corrosion Inhibitors Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Corrosion Inhibitors Market

Overview of the regional outlook of the Corrosion Inhibitors Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Corrosion Inhibitors Market Overview

Highlights of The Corrosion Inhibitors Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Corrosion Inhibitors Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Product:

                1. Organic

                2. Inorganic

        7. By Type:

                1. Water Based

                2. Oil Based

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Corrosion Inhibitors Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
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Corrosion Inhibitors Market Trends

Reasons to Purchase the Corrosion Inhibitors Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Corrosion Inhibitors Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Corrosion Inhibitors Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Corrosion Inhibitors Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Corrosion Inhibitors Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Corrosion Inhibitors Market Size & Forecast, 2018-2028 
      4.5.1 Corrosion Inhibitors Market Size and Y-o-Y Growth 
      4.5.2 Corrosion Inhibitors Market Absolute $ Opportunity 


Chapter 5 Global Corrosion Inhibitors Market Analysis and Forecast by Product
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Product
      5.1.2 Basis Point Share (BPS) Analysis by Product
      5.1.3 Absolute $ Opportunity Assessment by Product
   5.2 Corrosion Inhibitors Market Size Forecast by Product
      5.2.1 Organic
      5.2.2 Inorganic
   5.3 Market Attractiveness Analysis by Product

Chapter 6 Global Corrosion Inhibitors Market Analysis and Forecast by Type
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Type
      6.1.2 Basis Point Share (BPS) Analysis by Type
      6.1.3 Absolute $ Opportunity Assessment by Type
   6.2 Corrosion Inhibitors Market Size Forecast by Type
      6.2.1 Water Based
      6.2.2 Oil Based
   6.3 Market Attractiveness Analysis by Type

Chapter 7 Global Corrosion Inhibitors Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Corrosion Inhibitors Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Corrosion Inhibitors Analysis and Forecast
   9.1 Introduction
   9.2 North America Corrosion Inhibitors Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Corrosion Inhibitors Market Size Forecast by Product
      9.6.1 Organic
      9.6.2 Inorganic
   9.7 Basis Point Share (BPS) Analysis by Product 
   9.8 Absolute $ Opportunity Assessment by Product 
   9.9 Market Attractiveness Analysis by Product
   9.10 North America Corrosion Inhibitors Market Size Forecast by Type
      9.10.1 Water Based
      9.10.2 Oil Based
   9.11 Basis Point Share (BPS) Analysis by Type 
   9.12 Absolute $ Opportunity Assessment by Type 
   9.13 Market Attractiveness Analysis by Type

Chapter 10 Europe Corrosion Inhibitors Analysis and Forecast
   10.1 Introduction
   10.2 Europe Corrosion Inhibitors Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Corrosion Inhibitors Market Size Forecast by Product
      10.6.1 Organic
      10.6.2 Inorganic
   10.7 Basis Point Share (BPS) Analysis by Product 
   10.8 Absolute $ Opportunity Assessment by Product 
   10.9 Market Attractiveness Analysis by Product
   10.10 Europe Corrosion Inhibitors Market Size Forecast by Type
      10.10.1 Water Based
      10.10.2 Oil Based
   10.11 Basis Point Share (BPS) Analysis by Type 
   10.12 Absolute $ Opportunity Assessment by Type 
   10.13 Market Attractiveness Analysis by Type

Chapter 11 Asia Pacific Corrosion Inhibitors Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Corrosion Inhibitors Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Corrosion Inhibitors Market Size Forecast by Product
      11.6.1 Organic
      11.6.2 Inorganic
   11.7 Basis Point Share (BPS) Analysis by Product 
   11.8 Absolute $ Opportunity Assessment by Product 
   11.9 Market Attractiveness Analysis by Product
   11.10 Asia Pacific Corrosion Inhibitors Market Size Forecast by Type
      11.10.1 Water Based
      11.10.2 Oil Based
   11.11 Basis Point Share (BPS) Analysis by Type 
   11.12 Absolute $ Opportunity Assessment by Type 
   11.13 Market Attractiveness Analysis by Type

Chapter 12 Latin America Corrosion Inhibitors Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Corrosion Inhibitors Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Corrosion Inhibitors Market Size Forecast by Product
      12.6.1 Organic
      12.6.2 Inorganic
   12.7 Basis Point Share (BPS) Analysis by Product 
   12.8 Absolute $ Opportunity Assessment by Product 
   12.9 Market Attractiveness Analysis by Product
   12.10 Latin America Corrosion Inhibitors Market Size Forecast by Type
      12.10.1 Water Based
      12.10.2 Oil Based
   12.11 Basis Point Share (BPS) Analysis by Type 
   12.12 Absolute $ Opportunity Assessment by Type 
   12.13 Market Attractiveness Analysis by Type

Chapter 13 Middle East & Africa (MEA) Corrosion Inhibitors Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Corrosion Inhibitors Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Corrosion Inhibitors Market Size Forecast by Product
      13.6.1 Organic
      13.6.2 Inorganic
   13.7 Basis Point Share (BPS) Analysis by Product 
   13.8 Absolute $ Opportunity Assessment by Product 
   13.9 Market Attractiveness Analysis by Product
   13.10 Middle East & Africa (MEA) Corrosion Inhibitors Market Size Forecast by Type
      13.10.1 Water Based
      13.10.2 Oil Based
   13.11 Basis Point Share (BPS) Analysis by Type 
   13.12 Absolute $ Opportunity Assessment by Type 
   13.13 Market Attractiveness Analysis by Type

Chapter 14 Competition Landscape 
   14.1 Corrosion Inhibitors Market: Competitive Dashboard
   14.2 Global Corrosion Inhibitors Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 DuPont de Nemours Inc
      14.3.2 Henkel Ib©rica SA
      14.3.3 Baker Hughes a GE company LLC
      14.3.4 The Lubrizol Company
      14.3.5 Ecolab
      14.3.6 Dow
      14.3.7 Cortec Corporation
      14.3.8 Nouryon
      14.3.9 BASF SE
      14.3.10 Ashland
Segments Covered in the Report
The global Corrosion Inhibitors market has been segmented based on

By Product
  • Organic
  • Inorganic
By Type
  • Water Based
  • Oil Based
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • DuPont de Nemours Inc
  • Henkel Ib©rica SA
  • Baker Hughes a GE company LLC
  • The Lubrizol Company
  • Ecolab
  • Dow
  • Cortec Corporation
  • Nouryon
  • BASF SE
  • Ashland

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