NCR Online Journal

Corrosion Inhibitors Market worth $10.1 billion- Global Forecast to 2026

 Breaking News
  • No posts were found

Corrosion Inhibitors Market worth $10.1 billion- Global Forecast to 2026

May 30
22:02 2022
Corrosion Inhibitors Market worth $10.1 billion- Global Forecast to 2026
Browse 190 market data Tables and 50 Figures spread through 260 Pages and in-depth TOC on “Corrosion Inhibitors Market”
Corrosion Inhibitors Market by Compound(Organic, Inorganic), Type(Water Based, Oil Based and VCI), Application, End-Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Region

The global corrosion inhibitors market size is estimated at USD 7.9 billion in 2021 and is projected to reach USD 10.1 billion by 2026, at a CAGR of 4.9%. Alternative and emerging corrosion inhibitor technologies available in the market is a major restraining factor for the corrosion inhibitors market.

Corrosion inhibitors are used for the protection of metal surfaces in various end use industries. Ecolab (US) and Solenis LLC (US) have a strong emphasis on R&D and have developed various types of corrosion inhibitors.

To know about the assumptions considered for the study download the pdf brochure

Based on types, corrosion inhibitors have been segmented into Water-Based, Oil/Solvent-based, Volatile Corrosion inhibitors. The growing demand for cost-effective and efficient corrosion inhibitors is driving the demand for these type of corrosion inhibitors in the market.

Based on end user, the power generation segment is projected to lead the corrosion inhibitors market in terms of volume during the forecast period. The growth of this segment of the market can be attributed to the rapid urbanization and continuously growing population across the globe. Moreover, an increase in the number of projects being commissioned and tendered in various emerging economies across the globe is also contributing to the demand for corrosion inhibitors in the power generation user segment.

Water treatment application captures the major share of corrosion inhibitors demand as water is used at residential, commercial, and industrial levels. However, corrosion inhibitors are majorly used for industrial and municipal applications, as all the compounds are not regulatory feasible for drinking water treatment. Unlike industrial process systems, the classes of compounds allowed as per regulatory norms, for use in drinking water is extremely constrained by health concerns as there is the concern about the health effects

Asia-Pacific is projected to be leading the corrosion inhibitors market in the forecast period and also expected to be the largest and fastest-growing region. Rising population, increasing electrification, growth in disposable income, rapid industrialization, and increased urbanization are driving the Asia-Pacific corrosion inhibitors market. Increasing consumption of oil and gas for power, growing population, and rising demand for petrochemicals are responsible for the high growth of the market in this segment. In the construction industry, growth is mainly driven by rapid infrastructure development in countries such as India, Malaysia, Indonesia, and South Korea.

However, Growing need for eco-friendly chemical formulations and increasing incidences of patent copying are the major challenges for the growth of the corrosion inhibitors market between 2021 and 2026.

Request for Sample Report:

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

Related Articles