Corrosion Inhibitor Market Is Expected To Reach USD 9.6 Billion by 2026

Growing economy, and increasing rate of urbanization and industrialization are the major factor influencing market growth.

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Market Size – USD 7.2 Billion in 2018, Market Growth - CAGR of 3.6%, Market Trends –Increasing investments in construction sector. 

NEW YORK, March 18, 2019 (GLOBE NEWSWIRE) -- The global Corrosion Inhibitor Market is expected to reach USD 9.6 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing need to effectively reduce the corrosion rate of a metal exposed to any environment.

The industry has benefitted from the growth of construction sectors across the world. The product is mainly used in coating applications on construction materials including nuts, bolts, steel bars, steel, and metal parts for protection against corrosion. It helps in the improvement of construction material durability increasing the overall life of the structure. Moreover, the overall construction spending was accounted approximately USD 8.2 trillion in 2016; and is expected to cross USD 16.3 trillion by 2026.

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North America, primarily due to U.S., alone generated revenue at over USD 1.51 billion in 2018. The corrosion inhibitors market size in North America is mainly driven by the strong growth in the oil & gas industry in the region along with increasing investments in the construction business after the 2008 economic downturn.

The global corrosion inhibitors market growth is restrained by environmental regulations, particularly regarding its disposal and exposure to human. For example, increase in product usage leads to the disposal of harmful raw material, precisely chemicals used in the industry such as chromium, zinc and phosphorous.

Further key findings from the report suggest

  • The green corrosion inhabitants are expected to witness the highest growth, with a CAGR of 7.0%, by 2026, due to the innovation majorly focuses on the use of eco-friendly and sustainable compounds such as plant extracts, containing many organic compounds.
  • The market size for water based inhibitors dominates the globally in 2018, and is expected to have a higher growth, with a CAGR of 4.7%, due to the increasing need for water treatment chemicals due to its lower volatile organic content (VOC) emissions.
  • The market size for organic inhibitors dominates globally in 2018, is expected to have a higher growth, with a CAGR of 4.5% during the forecast period, mainly due to its superior characteristics including stability, and wide usage in manufacturing applications.

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  • Power generation dominates the sector in 2018, growing at a CAGR of 4.3%. Growing government investments for power generation projects to satisfy growing energy needs is expected to drive the demand.
  • Asia Pacific dominates the market size in 2018 and shall witness highest gains over the projected timeframe, particularly in India and China, followed by Europe. Increasing growth in the construction sector of the region is the major factor driving the corrosion inhibitors market size over the forecast period.
  • Key participants include Air Products and Chemicals Inc., Akzo Nobel NV , Ashland Inc., Anticorrosion Protective Systems LLC, BASF SE, Champion Technologies Inc., Chemtreat Inc., Cytec Industries Inc., Cortec Corporation, Daubert Cromwell LLC, DOW Chemical, Halox Inc., Henkel AG & Co., and Kurita Water Industries Ltd, among others.

For the purpose of this report, Reports and Data have segmented global Corrosion inhibitor Market on the basis of Corrosive agent type, Corrosion type, Types, Product type, Inhibitor type, application, and region:

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  • Corrosive agent type Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
    • Oxygen
    • Hydrogen Sulfide
    • Carbon Dioxide

  • Corrosion type Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
    • Uniform or general corrosion
      1. Atmospheric corrosion
      2. High-temperature corrosion
      3. Liquid-metal corrosion
      4. Molten-salt corrosion
      5. Biological corrosion
      6. Stray-current corrosion
    • Galvanic corrosion
    • Localized corrosion
      1. Crevice corrosion
      2. Filiform corrosion
      3. Pitting corrosion
      4. Intergranular corrosion
    • Stress corrosion cracking (SCC)
    • Erosion corrosion

  • Inhibitor type Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
    • Passivating Inhibitors
    • Volatile Inhibitors
    • Cathodic Inhibitors
    • Anodic Inhibitors
    • Mixed Inhibitors
    • Synergistic Inhibitors
    • Precipitation Inhibitors
    • Green Corrosion Inhibitors
    • Adsorption Action Inhibitors
      1. Chemisorption
      2. Physical Adsorption

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    • Types Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
      • Water-Based
      • Oil-Based/Solvent

    • Product type Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
      • Organic
        1. Benzotriazole
        2. Tolyltriazole
        3. Mercaptobenzothiazole
        4. Amines
        5. Phosphonates
      • Inorganic
        1. Nitrites & nitrates
        2. Chromates, DI chromates & borates
        3. Molybdates
        4. Zinc sulfate & other salts
        5. Silicates
        6. Polyphosphates

      • Applications Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
        1. Power Generation
        2. Oil & Gas Refinery
        3. Pulp & Paper
        4. Metal & Mining
        5. Chemical Processing
        6. Desalination Plant
        7. Others

      • Regional Outlook (Volume, Kilo Tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
        1. North America
          1. U.S.

        2. Europe
          1. Germany
          2. UK

        3. Asia Pacific
          1. China
          2. India
          3. South-east Asia

        4. Latin America
          1. Brazil

        5. MEA

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