Market Overview:
The global corrosion inhibitor market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth of the market can be attributed to the increasing demand for corrosion inhibitors from various end-use industries, such as petrochemical industry, power plant, steel industry, and others. Inorganic type corrosion inhibitors are projected to hold a larger share of the global corrosion inhibitor market during the forecast period. However, organic type corrosion inhibitors are expected to grow at a higher CAGR during the forecast period owing to their properties such as low toxicity and environmental friendliness.
Product Definition:
A corrosion inhibitor is a substance that is added to a liquid or gas to reduce the rate of corrosion.
Organic Type Corrosion Inhibitor:
Organic type corrosion inhibitor is a water-soluble chemical that prevents the attack of moisture on various metals. It can be applied to fresh as well as saltwater surfaces and is effective in protecting against corrosion caused by chlorides, sodium chloride, calcium chloride or any other source of corrosive submersion. Organic type corrosion inhibitors are manufactured from natural products such as plant oils & resins and their derivatives; for instance,Linseed oil & Flaxseed meal.
Inorganic Type Corrosion Inhibitor:
An inorganic type corrosion inhibitor is a chemical that inhibits the progress of corrosion in various metals. The product works by forming a protective layer over the metal surface, which prevents it from atmospheric gases and liquids. In addition, it also provides passive protection to alloys or metals against corrosive solutions or compounds.
Application Insights:
The steel industry was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. The rising demand for steel from various industries including construction, automotive, and energy on account of its excellent mechanical properties is expected to drive the market growth over the forecast period.
Petrochemical industry emerged as one of the major applications segment in 2017 due to increasing demand for polymers across various industries such as construction materials, packaging materials etc. Petrochemical industry also accounted for a considerable share in terms of volume owing to extensive usage of chemicals that are prone to corrosion such as polyethylene glycols (PEG), fatty acid amides (FAAs), ethylene oxide etc. Increasing PSA output on account of growing population coupled with rapid urbanization has resulted in increased consumption which is anticipated drive product demand over next seven years globally.
Regional Analysis:
Asia Pacific is anticipated to witness the fastest growth over the forecast period. The region has been witnessing robust economic growth and increasing industrial activities in various sectors, such as construction, automotive, energy & power. These factors are expected to drive market demand over the forecast period.
The Asia Pacific was followed by Europe in terms of revenue and is projected to grow at a CAGR of XX% from 2018 to 2030 owing to rising product demand from several end-use industries including petrochemical, power plant and steel industry. In addition, high R&D investment by global players for developing corrosion inhibitors with enhanced efficiency will further propel regional market development during the estimated time span.
Growth Factors:
- Increasing demand from end-use industries: The global corrosion inhibitor market is expected to grow at a CAGR of 5.5% from 2016 to 2021, owing to the increasing demand from end-use industries such as oil & gas, automotive, and construction.
- Growing awareness about the benefits of corrosion inhibitors: There is a growing awareness among consumers about the benefits of using corrosion inhibitors in various applications such as oil & gas, automotive, and construction. This is expected to drive the growth of the global corrosion inhibitor market during the forecast period.
- Technological advancements in corrosion inhibitors: The development of new technologies for manufacturing better quality and more efficient corrosion inhibitors is expected to drive the growth of this market during the forecast period.
- Rising investments in infrastructure projects: The increasing investments in infrastructure projects across regions such as Asia Pacific and Latin America are projected to boost demand for corrosion inhibitors overthe next five years., thereby propellingthegrowthoftheglobalcorrosioninhibitormarketduringtheforecastperiod2016-2021 .
Scope Of The Report
Report Attributes
Report Details
Report Title
Corrosion Inhibitor Market Research Report
By Type
Organic Type Corrosion Inhibitor, Inorganic Type Corrosion Inhibitor
By Application
Petrochemical Industry, Power Plant, Steel Industry, Others
By Companies
Ashland, Afton Chemical Corporation, Ecolab, GE Infrastructure Water and Process Technologies, Schlumberger Limited, NALCO, ARKEMA GROUP, Akzo Nobel, Anticorrosion Protective Systems, Air Products and Chemicals, Ashland
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
141
Number of Tables & Figures
99
Customization Available
Yes, the report can be customized as per your need.
Global Corrosion Inhibitor Market Report Segments:
The global Corrosion Inhibitor market is segmented on the basis of:
Types
Organic Type Corrosion Inhibitor, Inorganic Type 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
Petrochemical Industry, Power Plant, Steel Industry, Others
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:
- Ashland
- Afton Chemical Corporation
- Ecolab
- GE Infrastructure Water and Process Technologies
- Schlumberger Limited
- NALCO
- ARKEMA GROUP
- Akzo Nobel
- Anticorrosion Protective Systems
- Air Products and Chemicals
- Ashland
Highlights of The Corrosion Inhibitor 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 Type Corrosion Inhibitor
- Inorganic Type Corrosion Inhibitor
- By Application:
- Petrochemical Industry
- Power Plant
- Steel Industry
- Others
- 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 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.
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- 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 or mixture of chemicals that slows the corrosion process in metal.
Some of the major companies in the corrosion inhibitor market are Ashland, Afton Chemical Corporation, Ecolab, GE Infrastructure Water and Process Technologies, Schlumberger Limited, NALCO, ARKEMA GROUP, Akzo Nobel, Anticorrosion Protective Systems, Air Products and Chemicals, Ashland.
The corrosion inhibitor market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Corrosion Inhibitor 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 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Corrosion Inhibitor 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 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 Market Size & Forecast, 2020-2028
4.5.1 Corrosion Inhibitor Market Size and Y-o-Y Growth
4.5.2 Corrosion Inhibitor 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 Type Corrosion Inhibitor
5.2.2 Inorganic Type 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 Petrochemical Industry
6.2.2 Power Plant
6.2.3 Steel Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Corrosion Inhibitor 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 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 Type Corrosion Inhibitor
9.6.2 Inorganic Type 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 Petrochemical Industry
9.10.2 Power Plant
9.10.3 Steel Industry
9.10.4 Others
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 Type Corrosion Inhibitor
10.6.2 Inorganic Type 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 Petrochemical Industry
10.10.2 Power Plant
10.10.3 Steel Industry
10.10.4 Others
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 Type Corrosion Inhibitor
11.6.2 Inorganic Type 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 Petrochemical Industry
11.10.2 Power Plant
11.10.3 Steel Industry
11.10.4 Others
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 Type Corrosion Inhibitor
12.6.2 Inorganic Type 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 Petrochemical Industry
12.10.2 Power Plant
12.10.3 Steel Industry
12.10.4 Others
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 Type Corrosion Inhibitor
13.6.2 Inorganic Type 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 Petrochemical Industry
13.10.2 Power Plant
13.10.3 Steel Industry
13.10.4 Others
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 Market: Competitive Dashboard
14.2 Global Corrosion Inhibitor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ashland
14.3.2 Afton Chemical Corporation
14.3.3 Ecolab
14.3.4 GE Infrastructure Water and Process Technologies
14.3.5 Schlumberger Limited
14.3.6 NALCO
14.3.7 ARKEMA GROUP
14.3.8 Akzo Nobel
14.3.9 Anticorrosion Protective Systems
14.3.10 Air Products and Chemicals
14.3.11 Ashland
