Market Overview:
The global corrosion inhibitor for refining market is estimated to grow from USD 1.5 billion in 2018 to USD 2.2 billion by 2030, at a CAGR of 5.1% from 2018 to 2030. The growth of the global corrosion inhibitor for refining market can be attributed to the increasing demand for refined products, especially in developing countries. In addition, the growing awareness about the benefits of using corrosion inhibitors is also fueling the growth of this market. The organic corrosion inhibitors segment is expected to hold a larger share of the global corrosion inhibitor for refining market during the forecast period, owing to their high efficiency.
Product Definition:
A corrosion inhibitor is a chemical compound that, when added to a liquid or gas, reduces the rate of corrosion.
Organic Corrosion Inhibitor:
Organic corrosion inhibitor is a chemical that inhibits or delays the process of oxidation in which organic materials such as fats, oils, and fuels are converted to carbon dioxide and water. The product also prevents the formation of rust on metal parts. Organic corrosion inhibitors can be further divided into two categories namely oxidizing agents and non-oxidizing agents.
Inorganic Corrosion Inhibitor:
An inorganic corrosion inhibitor is a chemical compound that inhibits or delays the progress of corrosion in various environments. Inorganic corrosion inhibitors are primarily used to prevent steel from rusting. These compounds have no effect on non-ferrous metals such as aluminum and copper; however, they provide excellent protection against ferrous metal deterioration.
Inorganic corrosion inhibitors can be further classified into two types: Systemic and local (or topical) inhibitors.
Application Insights:
The crude oil processing application segment led the global corrosion inhibitor for refining market in 2017, accounting for a share of over 45%. The segment is projected to witness significant growth on account of rising demand from various downstream and upstream facilities engaged in the production and distribution of crude oil.
Fluid catalytic cracking (FCC) is one of the most popular processes used to extract petroleum products like diesel and gasoline from their respective feedstock components including natural gas liquids (NGLs), C3-C6 hydrocarbons & carbonates, slurry & cuttings, resid & wash water. The process involves high temperatures and pressure as well as it requires a catalyst that can withstand such harsh conditions. Thusly, these factors are anticipated to drive product demand over the forecast period.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The growth of this region is mainly attributed to increasing crude oil and natural gas production in China, India, South Korea, and Australia. Asia Pacific was the largest producer of crude oil in 2016 and it is expected to remain dominant throughout the forecast period owing to its large proven reserves of crude oil.
China emerged as a major consumer as well as producer for corrosion inhibitors across various industries including refining & petrochemicals (PVC), chemical processing & manufacturing (CPTM), metalworking fluids, etc. Rapid industrialization coupled with growing energy demand has resulted in rising product consumption across numerous end-use industries such as automotive; building & construction; packaging; agriculture equipment; marine equipment; etc., thereby boosting product demand across Asia Pacific region over the past few years.
Growth Factors:
- Increasing demand for refined petroleum products: The global demand for refined petroleum products is expected to grow at a CAGR of more than 2% during the forecast period. This will create a need for corrosion inhibitors to protect refinery equipment from corrosion.
- Technological advancements in refining processes: Refining processes are becoming more complex with the introduction of new technologies such as hydrocracking and coking. This requires the use of specialized corrosion inhibitors that can withstand high temperatures and harsh conditions.
- Stringent environmental regulations: Governments around the world are implementing stringent environmental regulations governing emissions from refineries. These regulations are encouraging refiners to adopt cleaner production technologies, which require the use of specific types of corrosion inhibitors.
Scope Of The Report
Report Attributes
Report Details
Report Title
Corrosion Inhibitor for Refining Market Research Report
By Type
Organic Corrosion Inhibitor, Inorganic Corrosion Inhibitor
By Application
Crude Oil Processing, Fluid Catalytic Cracking, Hydroprocessing, Other
By Companies
BASF, Nalco Company, SUEZ Water Technologies & Solutions, Cestoil, Dorf Ketal Chemicals, Clariant, Arkema, GE(Baker Hughes), Evonik Industries, Dow, BASF, Jiangsu Taihu New Materials, Xingyun Chem
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Corrosion Inhibitor for Refining Market Report Segments:
The global Corrosion Inhibitor for Refining market is segmented on the basis of:
Types
Organic Corrosion Inhibitor, Inorganic Corrosion Inhibitor
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Crude Oil Processing, Fluid Catalytic Cracking, Hydroprocessing, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BASF
- Nalco Company
- SUEZ Water Technologies & Solutions
- Cestoil
- Dorf Ketal Chemicals
- Clariant
- Arkema
- GE(Baker Hughes)
- Evonik Industries
- Dow
- BASF
- Jiangsu Taihu New Materials
- Xingyun Chem
Highlights of The Corrosion Inhibitor for Refining Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Organic Corrosion Inhibitor
- Inorganic Corrosion Inhibitor
- By Application:
- Crude Oil Processing
- Fluid Catalytic Cracking
- Hydroprocessing
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Corrosion Inhibitor for Refining 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 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A corrosion inhibitor is a chemical that helps to prevent the formation of rust on metal surfaces.
Some of the key players operating in the corrosion inhibitor for refining market are BASF, Nalco Company, SUEZ Water Technologies & Solutions, Cestoil, Dorf Ketal Chemicals, Clariant, Arkema, GE(Baker Hughes), Evonik Industries, Dow, BASF, Jiangsu Taihu New Materials, Xingyun Chem.
The corrosion inhibitor for refining market is expected to register a CAGR of 5.1%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Corrosion Inhibitor for Refining 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 Inhibitor for Refining Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Corrosion Inhibitor for Refining 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 Inhibitor for Refining 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 Inhibitor for Refining Market Size & Forecast, 2020-2028
4.5.1 Corrosion Inhibitor for Refining Market Size and Y-o-Y Growth
4.5.2 Corrosion Inhibitor for Refining Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Organic Corrosion Inhibitor
5.2.2 Inorganic Corrosion Inhibitor
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Crude Oil Processing
6.2.2 Fluid Catalytic Cracking
6.2.3 Hydroprocessing
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Corrosion Inhibitor for Refining 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 Inhibitor for Refining 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Organic Corrosion Inhibitor
9.6.2 Inorganic Corrosion Inhibitor
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Crude Oil Processing
9.10.2 Fluid Catalytic Cracking
9.10.3 Hydroprocessing
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Organic Corrosion Inhibitor
10.6.2 Inorganic Corrosion Inhibitor
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Crude Oil Processing
10.10.2 Fluid Catalytic Cracking
10.10.3 Hydroprocessing
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Organic Corrosion Inhibitor
11.6.2 Inorganic Corrosion Inhibitor
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Crude Oil Processing
11.10.2 Fluid Catalytic Cracking
11.10.3 Hydroprocessing
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Organic Corrosion Inhibitor
12.6.2 Inorganic Corrosion Inhibitor
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Crude Oil Processing
12.10.2 Fluid Catalytic Cracking
12.10.3 Hydroprocessing
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Organic Corrosion Inhibitor
13.6.2 Inorganic Corrosion Inhibitor
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Crude Oil Processing
13.10.2 Fluid Catalytic Cracking
13.10.3 Hydroprocessing
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Corrosion Inhibitor for Refining Market: Competitive Dashboard
14.2 Global Corrosion Inhibitor for Refining Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BASF
14.3.2 Nalco Company
14.3.3 SUEZ Water Technologies & Solutions
14.3.4 Cestoil
14.3.5 Dorf Ketal Chemicals
14.3.6 Clariant
14.3.7 Arkema
14.3.8 GE(Baker Hughes)
14.3.9 Evonik Industries
14.3.10 Dow
14.3.11 BASF
14.3.12 Jiangsu Taihu New Materials
14.3.13 Xingyun Chem
