Corrosion Inhibitors Market is estimated to be US$ 14.2 billion by 2032 with a CAGR of 5.1% over the forecast period (2022-2032)- By PMI
Corrosion Inhibitors Market, 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),and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032
Covina, March 28, 2023 (GLOBE NEWSWIRE) -- Corrosion inhibitors are reactive and render them incompatible with coating systems. Inorganic corrosion inhibitors are reactive and highly water soluble. Formulation of anion exchange pigments into paint limit the filiform corrosion by lowering activity of chloride through ion exchange & buffering acidic pH of the filiform anodic head. Ion exchange pigments help in reducing blistering by eliminating the inhibitor leaching. Organic containers and capsules are used as corrosion inhibitor delivery systems. Sodium silicate is the most common type of corrosion inhibitor. Sodium silicate prevent the occurrence of rust water and used in many domestic water softeners. Sodium silicate also help in protecting brass, steel and copper product from corrosion. Most commonly corrosion inhibitor chemicals are thiourea, urotropine, ruthenium, o-xylene thiourea, and industrial xylene thiourea. Crevice, pitting, stress, intergranular, and galvanic corrosion are the main types of corrosion occur in metals. Corrosion inhibitors, metal plating and protective coating helps in preventing corrosion. Most common corrosive chemicals are imidazole, glycolic acid, amines, sulfuric acid, hydrogen peroxide, sodium hydroxide, bromine, etc. corrosion inhibitors are used in different types of industries like metals, mining, petroleum, chemical processing, cement & concrete, textiles, transportation & manufacturing, electronics, etc. Main application of corrosion inhibitor is it stops the rusting & anodic corrosion of metals. Oxygen scavengers are used as corrosion inhibitors which react with dissolved oxygen in environment & thus help in preventing cathodic corrosion. Corrosion inhibitors are important in securing fuel pipelines and reduce the risk of accidents. It also stops rusting & anodic corrosion of metals. However, wide applications has given positive impact on corrosion inhibitors market growth.
The report “Corrosion Inhibitors Market, 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),and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
In May 2022, Chemetall has launched new ‘Gardobond X4802/2 RFU’ which is a high performance and non-chrome pretreatment technology for pre-painted coils. Newly launched product is acidic, water based, no-rinse, & multi metal pretreatment technology that is compatible with substrate like hot dip galvanizing (HDG) and zinc magnesium (ZM). ‘Gardobond X4802/2 RFU’ help in reducing emission of volatile organic compounds & thus, meets the highest market standards for pre-painted coils which are used in home appliance and construction industries.
In November 2019, Nalco Water an Ecolab company has launched new phosphorus free & low phosphorus programmes for scaling inhibition and to control mild-steel corrosion in industries. Newly launched programme offers superior performance in varying water condition with minimal dosage. These programme remove the aquatic nutrients for bacteria by eliminating added phosphate and allowing operation at higher pH.
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The key factor driving the growth of the Corrosion Inhibitors market is Rise in industrialization, water treatment plant, and rate of urbanization. Urbanization has given rise in population, industrialization, water treatment plants, etc. Corrosion inhibitors help in protecting metal pipes, metal product from corrosion. Moreover, rising population, rising industrialization, rising water treatment plant is anticipated to increase demand for Corrosion Inhibitors. Currently corrosion inhibitors are expensive and toxic, therefore new inexpensive and non-toxic material is highly required to reduce the corrosion. Thus, research and development is highly recommended to produce non-toxic corrosion inhibitors which will be safe for human being and does not affect ecosystem. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Key Market Insights from the report:
Corrosion Inhibitors Market accounted for US$ 8.1 billion in 2022 and is estimated to be US$ 14.2 billion by 2032 and is anticipated to register a CAGR of 5.1%. The Corrosion Inhibitors Market is segmented based on Type, Product, Application and Region.
Based on Type, Corrosion Inhibitors Market is segmented into Oil based, Water based.
Based on Product, Corrosion Inhibitors Market is segmented into Organic, Inorganic.
Based on Application, Corrosion Inhibitors Market is segmented into Water Treatment, Paper & Pulp, Power Generation, Oil & Gas, Chemical Processing, Metal Processing, and others.
By Region, the Corrosion Inhibitors Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Corrosion Inhibitors Market:
Nouryon Holding B.V.
Dow Chemical Company
Baker Hughes Ltd.
DuPont de Nemours Inc.
Eastman Chemical Company
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Questions answered by corrosion inhibitors Market:
What is the current market size and growth rate?
What are the key market trends and market dynamics?
Who are the major players in the market and what is their market share?
What is the competitive landscape like in the market?
What are the major drivers and restraints affecting the market?
What are the growth opportunities in the market?
What are the regional and local market conditions and consumer behavior?
What is the market size and growth forecast for different regions and countries?
What is the impact of government regulations and policies on the market?
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Corrosion Inhibitors Market-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),and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032
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