Global Corrosion Inhibitors Market Size Study, by Compound (Organic, Inorganic), by Type (Water Based, Oil Based, VCI), by Application, by End Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Regional Forecasts 202

Global Corrosion Inhibitors Market Size Study, by Compound (Organic, Inorganic), by Type (Water Based, Oil Based, VCI), by Application, by End Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Regional Forecasts 2022-2032

The Global Corrosion Inhibitors Market is valued at approximately USD 8.69 billion in 2023 and is projected to expand at a healthy compound annual growth rate (CAGR) of 4.90% during the forecast period from 2024 to 2032. Corrosion inhibitors play an essential role in mitigating metal degradation, particularly in challenging industrial environments. These chemical compounds, designed to slow or prevent corrosion in metallic surfaces, find widespread applications across industries like oil & gas, power generation, and utilities, offering reliable solutions to preserve infrastructure longevity and operational efficiency.

The market's upward trajectory is primarily fueled by increasing industrialization and the global demand for enhanced infrastructure durability. Key sectors, including oil and gas, heavily depend on corrosion inhibitors to maintain the integrity of pipelines, machinery, and storage tanks. The adoption of advanced technologies, such as vapor corrosion inhibitors (VCI), has provided innovative solutions for challenging environments, further propelling market growth. Furthermore, environmental regulations advocating eco-friendly and sustainable corrosion protection have accelerated the development of organic inhibitors, aligning with the market's shift toward greener alternatives.

Power generation and utilities emerge as key end-use industries leveraging corrosion inhibitors to ensure uninterrupted operations and minimize maintenance costs. Simultaneously, the metal and mining sectors are significantly contributing to market demand by utilizing these chemicals to protect valuable assets in highly corrosive conditions. However, challenges such as fluctuating raw material prices and the complex nature of inhibitor formulations may restrain market growth. Despite this, expanding applications in emerging economies and a focus on research and development offer lucrative opportunities for market players.

Regionally, North America remains a dominant market due to its well-established industrial base and stringent regulatory frameworks promoting sustainable practices. Europe follows closely, driven by technological advancements and widespread adoption of eco-friendly inhibitors. Meanwhile, the Asia-Pacific region is poised to witness the fastest growth, supported by rapid industrialization, urbanization, and growing investments in infrastructure development in nations like China and India.

Major market players included in this report are:
• BASF SE
• Dow Inc.
• Ecolab Inc.
• Ashland Global Holdings Inc.
• AkzoNobel N.V.
• Henkel AG & Co. KGaA
• Solvay S.A.
• Cortec Corporation
• Clariant AG
• SUEZ Water Technologies & Solutions
• Lubrizol Corporation
• Eastman Chemical Company
• Kemira Oyj
• Dai-Ichi Kogyo Seiyaku Co., Ltd.
• Chemtreat Inc.

The detailed segments and sub-segment of the market are explained below:

By Compound
• Organic
• Inorganic

By Type
• Water Based
• Oil Based
• Vapor Corrosion Inhibitor (VCI)

By Application

(Detailed sub-segments can be specified based on market focus)

By End Use
• Power Generation
• Oil & Gas
• Metal & Mining
• Pulp & Paper
• Utilities
• Chemical

By Region

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:
• Market estimates & forecasts for 10 years, from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Comprehensive geographical landscape with country-level analysis of major regions.
• Competitive landscape with detailed insights on major market players.
• Strategic recommendations for businesses to navigate the competitive environment.
• Analysis of demand-side and supply-side market dynamics.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.