Corrosion Inhibitors Market Overview
Corrosion Inhibitors Market was valued at US$ 9 Billion in 2024 and is projected to grow at a CAGR of 20.00% to reach US$ 47.4 Billion by 2034.
Corrosion inhibitors are chemical product that are added to water or any process fluid to decrease the corrosion rate. Water treatment consists of metals, pipes, which is impacted by corrosion. Corrosion inhibitors help in protection of metal, oil & gas refinery and other from corrosion. Chromate, molybdates, nitrates and tungstate are the examples of corrosion inhibitors. Corrosion inhibitors slow down the cathodic reaction for limiting diffusion of reducing species to metal surface. Oxygen scavengers and cathodic poison are the examples of inhibitors. Corrosion inhibitors are the first line of defense against corrosion. There are different types of corrosion inhibitors like cathodic inhibitors – which help in slow down the cathodic reaction for limiting diffusion of reducing species to metal surface. Anodic inhibitors – it act by forming protective oxide film on surface of metal. Anodic inhibitors causes large anodic shift which forces the metallic surface in passivation region. Anodic inhibitors reduces the potential of corrosion in material. Nitrates, chromates, tungstate and molybdates are examples of anodic inhibitors. VCI (Volatile Corrosion Inhibitors) – are compounds transported in closed environment at site of corrosion by process of volatilization from source. In boilers, hydrazine or morpholine volatile compounds are transported with steam for preventing corrosion in condenser tubes. Mixed inhibitors – are film-forming compounds which help in reducing anodic & cathodic reactions. Phosphates and silicates are most commonly used mixed inhibitors which are used in domestic water softeners for preventing formation of rust water. Corrosion protection is needed in all types of equipment. Corrosion inhibitors has wide variety of applications in different sector like Water Treatment, Paper & Pulp, Power Generation, Oil & Gas, Chemical Processing, Metal Processing, and others. Combination of anodic and cathodic corrosion inhibitors help in improving protection & allows for reducing inhibitor concentration. Inhibitors which form adsorption protective films are organic substances. This inhibitors has molecular structure of surfactant with hydrophilic group that is capable to bond hydrophobic part of molecule and with metal surface towards solution bulk. Adsorbed inhibitor molecules help in limiting the diffusion of oxygen and access of water to metal surface and thus reduce the rate of corrosion. Ecofriendly corrosion inhibitors in corrosion protective coatings is growing in field of corrosion protection. New organic and inorganic inhibitors has been identified as candidate replacement for hexavalent chromium. However, wide applications has fueled the target market growth.
Corrosion Inhibitors Market Dynamics
Rise in industrialization, water treatment plant, and rate of urbanization
Rise in industrialization, water treatment plant, and rate of urbanization has become the major factor in target market growth. Urbanization has given rise in waste water treatment plant, and industries. Water treatment plants consist of metal materials like pipes. To avoid and protect from corrosion, corrosion inhibitors are applied in metal materials. Pipeline corrosion inhibitors are used in manufacturing industries, oil & gas, petroleum, and others. In automotive industries corrosion inhibitors are used in engine oils, hydraulic brake fluids, transportation of fuels and gasoline, etc. to form protective layer on metallic surfaces, and to form a protective film on steel pipe to ensure that liquids passing through pipe do not come in contact with pipeline. Corrosion inhibitors like ammonium compound are applied in pipelines with higher content of water. Carboxylic acids and organic corrosion inhibitors are applied in transportation of organic fuels, oil and gas. For instance, in 2022, industrialization in Tamil Nadu along with Kerala has relatively developed the path of industrialization with higher levels of development and lower levels of poverty compared to other states with development of dynamic manufacturing industries which includes, pharmaceuticals, automobiles, auto components, chemicals, plastics, garments, engineering, leather products, textile products, etc. For instance, in August 2022, about 30% Car dispatches up in India. Industry determines the passenger vehicles which has increased 29-31% to 335,000-340,000 units in August. The fastest growth was registered in this year. According to data published by United Nations in 2018, about 55% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. However, the growth in industrialization, waste water treatment plant, and population in urban areas boosts the demand for Corrosion Inhibitors market.
Restrains:
Corrosion inhibitors contains heavy metals which are injurious to human health, plants, and animals. Red lead and zinc chromate are used in corrosion inhibitors in coatings which are toxic. When exposed to red lead by inhalation or ingestion they cause adverse effects on gastrointestinal, nervous, reproductive, cardiovascular system and others. However, due to its toxicity in human being, animals, and plants with adverse effects may somewhat restrain the target market growth.
Corrosion Inhibitors Market Segmentation
The Corrosion Inhibitors market is segmented based on type, form, function, application method, crop type, and region.
On the basis of type, the Corrosion Inhibitors market is segmented into Oil based, Water based. On the basis of product, the target market is segmented into Organic, Inorganic. On the basis of application, the target market is segmented into Water Treatment, Paper & Pulp, Power Generation, Oil & Gas, Chemical Processing, Metal Processing, and others.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Corrosion Inhibitors Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rising population, rising industrialization, rising water treatment plant is anticipated to increase demand for Corrosion Inhibitors in the region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
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Market Segmentation |
By Type - Oil based, Water based By Product – Organic, Inorganic By Application - Water Treatment, Paper & Pulp, Power Generation, Oil & Gas, Chemical Processing, Metal Processing, and others
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Corrosion Inhibitors Market report based on type, product, application, and region:
Corrosion Inhibitors Market, By Type:
- Oil based
- Water based
Corrosion Inhibitors Market, By Product:
- Organic
- Inorganic
Corrosion Inhibitors Market, By Application:
- Water Treatment
- Paper & Pulp
- Power Generation
- Oil & Gas
- Chemical Processing
- Metal Processing
- Others
Corrosion Inhibitors Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Corrosion Inhibitors Market Key Players
The key players operating the Corrosion Inhibitors Market includes, BASF SE, Nouryon Holding B.V., Dow Chemical Company, Cortec Corporation, Baker Hughes Ltd., Ecolab Inc., Lubrizol Ltd., DuPont de Nemours Inc., Eastman Chemical Company, NALCO India, and others.
Corrosion Inhibitors Market Key Issues Addressed
- In April 2021, Cortec has launched new compostable corrosion inhibiting stretch film ‘EcoStretch’ powered by Nano VpCI. Newly launched machine grade stretch wrap has combined commercially compostable resins with VpCI (vapor phase corrosion inhibitor technology) for corrosion protection of metal like carbon steel, galvanized steel, stainless steel, aluminum, brass, copper, and cast iron. EcoStretch provides commercially compostable stretch film with extra corrosion benefits for one-stretch wrapping & protection from corrosion in metals.
Corrosion Inhibitors Market Company Profile
- Cortec Corporation*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BASF SE
- Nouryon Holding B.V.
- Dow Chemical Company
- Baker Hughes Ltd.
- Ecolab Inc.
- Lubrizol Ltd.
- DuPont de Nemours Inc.
- Eastman Chemical Company
- NALCO India
“*” marked represents similar segmentation in other categories in the respective section
Corrosion Inhibitors Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Product
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Oil based
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Water based
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Market Segmentation, By Product, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Organic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Inorganic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Market Segmentation, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Water Treatment
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Paper & Pulp
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Power Generation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Oil & Gas
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Chemical Processing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Metal Processing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Overview
-
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Latin America
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-
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Product, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
-
- GCC
- Israel
- South Africa
- Rest of Middle East
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- BASF SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nouryon Holding B.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dow Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Cortec Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Baker Hughes Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ecolab Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Lubrizol Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- DuPont de Nemours Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eastman Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- NALCO India
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Corrosion Inhibitors Market is segmented into type, product, application, and region.
Corrosion Inhibitors Market is driven by factors like rise in industrialization, water treatment plant, and rate of urbanization.
By region, the Corrosion Inhibitors market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements.
The key players operating the Corrosion Inhibitors Market includes, BASF SE, Nouryon Holding B.V., Dow Chemical Company, Cortec Corporation, Baker Hughes Ltd., Ecolab Inc., Lubrizol Ltd., DuPont de Nemours Inc., Eastman Chemical Company, NALCO India, and others.