Segmented by type (water-based, oil/solvent), by composition (organic, inorganic), by application (power generation, oil and gas refinery, pulp and paper, metal and mining, chemical processing, desalination plant , coolants and lubricants for automobiles). , Automotive fuel), By Region.
New York, Feb. 21, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the launch of the “Corrosion Inhibitors Market: Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028” report – https://www.reportlinker.com/p06373095/?utm_source=GNW
The global corrosion inhibitors market was valued at USD 8487.86 million in 2022 and is projected to grow at a CAGR rate of 4.11% till 2028, owing to the growing demand from various user industries ends such as oil and gas, agriculture and others.
Corrosion inhibitors, also known as anticorrosives, are a chemical composition that is mixed with liquid to reduce the rate of corrosion of a material. It is usually used on metal or alloy that is in contact with the fluid.
It is a typical method of preventing corrosion that involves improving a coating and is often called a passivation layer, which blocks the access of the corrosive chemical to the metal. It is a preventive measure to make metal corrosion accessible and is considered to be the first line of defense against corrosion.
Corrosion inhibitors are used in a variety of applications, including cooling water recirculation systems, oil production, oil refining, and acid pickling of steel components. Growing demand from the oil and gas industries and water treatment systems is driving the demand for corrosion inhibitors globally.
Increased demand for corrosion inhibitors for the water treatment system
The demand for a water treatment system has grown recently due to the increase in cases of diseases caused by the consumption of contaminated water. According to the WHO, in 2020, the number of deaths caused by non-potable or contaminated water was 485,000.
This in turn has increased the demand for chemicals or substances that can help prevent corrosion or damage to water treatment systems. Corrosion inhibitors are a type of chemical that is added to water or any other process fluid to slow the rate of corrosion.
Corrosion inhibitors are necessary for water treatment systems, since water treatment consists of pipes made of different metal or alloy materials. It helps prevent corrosion, maintains pressure or water loss, and can work for a long time.
Therefore, the increasing demand for water and wastewater treatment and the growing need for cleaning water from the rapidly growing population is driving the growth of the global corrosion inhibitor market.
Increased demand from various end-user industries
Due to the anti-corrosive characteristics, corrosion inhibitors are used in various end-user industries such as power generation, oil, gas and refineries, metal and mining, and others to prevent corrosion of their metal products. lics or machinery. For example, in the oil, gas and refinery, the mixture of amines and solvents are used as an oil-soluble corrosion inhibitor and film.
It helps provide efficient corrosion mechanisms while making disposal wells, injection wells, pipelines, wells and refinery applications. In addition to this, metal processing provides a coating on the metal surface with a layer of chromate that helps stop oxidation and anodic corrosion of metals. .
Apart from this, government initiatives and projects such as hydroelectric power plants, water treatment systems, and oil and gas extraction will increase the growth demand of the global corrosion inhibitor market over the forecast period.
Growing demand from emerging countries
Emerging demand for liquid corrosion inhibitors from growing economies such as Malaysia, China, Brazil, India, Indonesia, Chile, Argentina, and Vietnam is driving market growth in the region. Companies are increasing their investment in R&D to develop innovative products such as Clotrimazole and Fluconazole.
Clotrimazole and fluconazole are effective corrosion inhibitors for aluminum when exposed to hydrochloric acid. Hence, this initiative to find new products is expected to generate lucrative growth in the corrosion inhibitor market worldwide.
Market segmentation
The global corrosion inhibitor market is segmented based on type, composition, and application. On the basis of type, the market is segmented into water-based, oil-based, and steam-based corrosion inhibitors.
According to the composition, the market is divided into organic and inorganic. Based on application, the market is segmented into power generation, oil and gas refinery, metal and mining, automotive coolants, lubricants and fuels, chemical processing, desalination plant, paper and pulp.
Market players
Nouryon Holding BV, Cortec Corporation, Ashland Inc, Ecolab Inc., Henkel Ibérica, SA, Lubrizol Ltd., BASF SE, Dow Chemical Company, DuPont de Nemours, Inc., Lanxess Corp. are the major players in the global corrosion inhibitor market. .
Scope of the report:
In this report, the global Corrosion Inhibitors market has been segmented into the following categories along with the industry trends which are also detailed below:
• Global Corrosion Inhibitors Market, by Type:
or Water-based
o Oil/solvent based
• Global corrosion inhibitors market, by composition:
or Organic
or Inorganic
• Global Corrosion Inhibitors Market, by Application:
o Energy generation
o Oil and gas refinery
o Metallurgy and mining
o Automotive fuel
o Refrigerants and automotive lubricants
o Chemical processing
or Desalination plant
o Paper and pulp
• Global Corrosion Inhibitors Market, by Region:
or North America
United States
canada
Mexico
or Asia-Pacific
china
India
malaysia
Australia
Japan
or Europe
Germany
France
United Kingdom
Spain
Italy
or the Middle East and Africa
Saudi Arabia
South Africa
United Arab Emirates
or South America
brazil
Argentina
colombia
Competitive landscape
Company Profiles: Detailed analysis of major companies present in the global corrosion inhibitors market.
Customizations available:
With the market data provided, we offer customizations according to the specific needs of the company. The following customization options are available for the report:
Company information
• Detailed analysis and profiles of additional market agents (up to five).
Read the full report: https://www.reportlinker.com/p06373095/?utm_source=GNW
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