Global Corrosion Inhibitors Market Size, Trends & Analysis with COVID-19 Impact – Forecasts to 2026 By Product (Organic, Inorganic), By Type (Oil-Based, Water-Based), By End-Use (Oil &Gas, Pulp &Paper, Metal Processing, Chemical Processing, Water Treatment, Others), By Region (North America, Asia-Pacific, Middle East & Africa, North America, Europe), End-User Landscape and Company Market Share Analysis and Competitor Analysis
Corrosion Inhibitors Market Insights
The corrosion inhibitors market is expected to grow upwardly during the forecast period. The inhibitors are certain chemicals exploited in industrial units and often help in reducing the corrosion of metals. The corrosion inhibitors method is cheap and easy to apply and also reduce the financial losses in the industrial units. The corrosion inhibitors are extensively and profoundly used in the oil and gas industry. There is growing research and inclination towards the use of natural corrosion inhibitors which also supports the market growth. Amino acids, biopolymers, and proteins are believed to be excellent corrosion inhibitors. The negative COVID-19 impact on the oil & gas industry works as a market deterrent. The need for the environment-friendly methods of reducing corrosion, feasible, and in demand for various industrial processes is expected to drive the market growth in the future period.
Corrosion Inhibitors Market: By Product
Based on the product, the market considers organic and inorganic into account. The organic segment would experience a high growth pattern in the market. These inhibitors are exceptionally used in oil & gas, acid cleaning, and iron industries. The high end-use applications drive the segment’s upward growth in the market. The inorganic segment would grow moderately in this market. They operate well at high temperatures and are inexpensive in contrast to the organic ones leading to their high usage in the market.
Corrosion Inhibitors Market: By Type
Based on the type, the market considers water and oil-based into account. The water-based segment is expected to grow in an upward direction in this market. They are cheaper to use in contrast to the oil-based. They reduce the risk of solvent fumes and are generally clean to use. The oil-based segment would also grow in an upward direction due to its rising end-use application. This method is preferred for long term protection and they also offer heavy film leading to protection of parts in severe harsh conditions
Corrosion Inhibitors Market: By Application
Based on the application, the market considers oil & gas, pulp & paper, metal processing, chemical processing, and water treatment among others. The oil and gas industry would have the largest consumption pattern of the corrosion inhibitors. The use of green inhibitors is invading the industry at a high rate. The consideration of medicinal plants and polyglucosides as a green option for inhibitors is fast changing the industry’s outlook. The pulp and paper industry segment too would have a huge market dominance during the forecast period. The growing corrosive challenges in the industry like corrosion of the chemical storage tanks, digesters, and recovery boilers among others would lead to increased implementation of the corrosion inhibitors in the market.
Corrosion Inhibitors Market: By Region
Based on the region, the market considers Aasia Pacific would grow in an upward direction for this market. Among the countries, the Indian economy has a strong oil and gas industry and also leads the way for metal processing. The rapid expansion of oil exploration in the Chinese region would also promote high growth for the market. Europe too would have a huge market dominance for certain corrosion inhibitors. It’s growing pulp and paper industry and water treatment plant units present potential growth for the corrosion inhibitors in the market.
Market Share and Competitive Analysis
Key players in the market include Maxwell Additives Pvt ltd, Vincotte, Acuro Organics Limited, Intercept Technology, Inc, Industrial Fluid systems, Economy Polymers &Chemicals, Askew Industrial Corp, ChemCeed, SC Fastening Systems, The Cary Company, BTC Europe, Cortec, Kao Chemicals, and Croda Lubricants
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2017, Labema Corrosion Inhibitors and ChemSpec Mexico announced a special distribution structure for Mexico.
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The Global Corrosion Inhibitors Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Corrosion Inhibitors Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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