Market Watch: Corrosion Inhibitors Industry and Infrastructure Protection

Corrosion Inhibitors Industry Overview

The latest report of Corrosion Inhibitors Industry 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 – Global Forecast to 2026. Corrosion inhibitor is a chemical compound that, when added to a liquid or gas, decreases the corrosion rate of a material, typically a metal or an alloy. Corrosion inhibitors will remain one of the largest product segments within the water treatment chemicals industry. The global corrosion inhibitors industry size is projected to reach USD 10.1 billion by 2026 at a CAGR of 4.9% from 2021. The increasing demand for corrosion protection chemicals in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the industry for corrosion inhibitors. The report also indicates a point-wise outline of industry size, share, upcoming trends, demand, drivers, restraints, growth, Opportunity and expert reviews.

Driver: Increasing demand for treated water in various end-use segments

Restraint: Use of corrosion-resistant materials

Opportunity: Increasing industrialization in developing economies

Challenge: Need for eco-friendly formulations

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Corrosion Inhibitors Industry Top Key Players

Nouryon (Amsterdam)
Henkel (Germany)
The Lubrizol (US)
BASF SE (Germany)
Ecolab Inc. (US)
Solenis LLC (US)
Baker Hughes (US)
The Dow Chemical Company (US)
Suez S.A. (France)

These industry leaders have adopted various organic as well as inorganic growth strategies. Solenis, formerly known as Ashland Water Technologies, is one of the leading global producers of specialty chemicals for water-intensive industries, including pulp paper, oil gas, petroleum refining, chemical processing, mining, biorefining, power, and municipal.

Baker Hughes is an energy technology company with a diversified portfolio of technologies and services that span the energy and industrial value chain. It is one of the leading providers of oilfield services, products, technologies, and systems used in the oil gas industry. Recently, GE (US) and Baker Hughes Inc. merged their oil and gas equipment and services operations. The company offers corrosion inhibitors in the oilfield services and equipment segment.

Corrosion Inhibitors Industry Segmentation

This research report categorizes the corrosion inhibitors industry based on type, end-use industry, and region.

By Compound:

Organic corrosion inhibitors
Inorganic corrosion inhibitors

In terms of value, the organic segment is projected to account for the largest share of the corrosion inhibitor industry, by compound, during the forecast period.

The power plants are designed on the presumption to be continuously operated for many years to come. Across the world, demand for reliable economic power has raised the need to operate these systems at full capacity and as low a cost as possible.

By Applications:

Water Treatment
Process and Product Additives
Oil Gas Production

By Type:

Water-based Corrosion Inhibitors
Oil-based Corrosion Inhibitors
Volatile Corrosion Inhibitors

Volatile Corrosion Inhibitor is projected to be the fastest-growing industry, based on type.

Volatile Corrosion Inhibitors (VCI), will register the highest CAGR for the type segment of corrosion inhibitor industry, during the forecast period. VCIs work by changing the pH of the outside atmosphere to less acidic conditions to regulate corrosion.

By End-use industry:

Oil gas
Power generation
Chemicals
Metals processing
Pulp paper
Others (food beverage, pharmaceuticals, hydrometallurgy, construction, automotive, aerospace)

Power generation is projected to register the highest CAGR during the forecast period.

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By Region:

APAC
Europe
North America
Middle East Africa
South America

The Middle East Africa region is the second fastest-growing region for the corrosion inhibitor industry, in terms of value.

The region has emerging industrys, such as Saudi Arabia, the UAE, Iran, Kuwait, and South Africa. The region has established oil gas and chemical petrochemical industries due to the abundant availability of natural resources.

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