Corrosion Inhibitors Market Research Report - Global Forecast till 2027

Global Corrosion Inhibitors Market Research Report: Information by Product (Organic and Inorganic), Application (Water-Based and Solvent/Oil-Based), End-Use Industry (Power Generation, Oil & Gas, Chemical Processing, Metal Processing and others) and Region (North America, Europe, Asia-Pacific and Rest of World) - Forecast till 2027

ID: MRFR/CnM/5485-CR | August 2019 | Region: Global | 121 pages

Global Corrosion Inhibitors Market was valued at USD 7,619.9 Million in 2018 and is expected to grow at 4.2% CAGR during the review period.


Corrosion inhibitors are chemicals used to control or prevent corrosion in the production conduit or completion system. They may be continuously injected through a downhole injection point, or periodic squeeze treatments may be undertaken to place the inhibitor in the reservoir matrix for subsequent blending with produced fluids. Corrosion inhibitors are extensively used in various industries such as power, mining, oil & gas, petrochemicals, paper mills, and various environmental protection industries.


Market Dynamics


The demand for corrosion inhibitors is mainly driven by the growing water treatment industry on account of water scarcity and stringent regulations against wastewater disposal in the industrial sector. The use of corrosion inhibitors in water treatment plants helps reduce the rate of corrosion in flow pipelines. The need for zero discharge of industrial water has led to the adoption of reverse osmosis (RO) membranes and other processes to enable plants to reuse and recycle water. Furthermore, the increased use of hydraulic fracturing in the oil & gas industry has led to rising demand for water. Corrosion inhibitors, among other water treatment chemicals, help companies reuse water for various production processes.


The demand for corrosion inhibitors is increasing in numerous industries such as power generation, metal processing, lubricants, oil & gas, construction, and automotive. Corrosion inhibitors are used widely in the metal processing and oil & gas industries to reduce the rate of corrosion on metal surfaces by forming a protective film. Increasing oil & gas production and extraction activities in emerging economies such as India, China, Thailand, Malaysia, and Indonesia on account of the rising demand for petroleum products, fuel, and energy in numerous applications is expected to fuel the demand for corrosion inhibitors in the coming years.


Furthermore, the growing preference for green corrosion inhibitors due to stringent regulations against the use of inorganic corrosion inhibitors containing phosphates, silicates, and chromates is likely to create lucrative opportunities for the players operating in the global corrosion inhibitors market.


However, the adoption of thermoplastics in flow pipelines due to their superior benefits including improved performance and resistance to high temperatures and corrosion is likely to result in reduced demand for corrosion inhibitors, thereby restraining market growth during the forecast period.


Global Corrosion inhibitors Market Revenue, by Product, 2018 (USD Million)  Corrosion Inhibitors Market


Sources: MRFR Analysis


Segmentation


Based on product, the global market has been divided into organic and inorganic. The organic corrosion inhibitors segment accounted for the larger market share in 2018 with market value of USD 4,975.5 million and is expected to grow at a CAGR of 4.13% during the review period. The segment growth can be attributed to its increasing use in numerous end-use industries owing to its superior properties such as reduced uniform corrosion and flash rusting, resistance to chemicals, reduced blistering, and water resistance while also offering environmental feasibility. The inorganic corrosion inhibitors segment is expected to grow at 4.5% CAGR during the forecast period.


Based on application, the global corrosion inhibitors market has been bifurcated into water-based and solvent/oil-based. The water-based corrosion inhibitors segment accounted for the larger market share with a market value of USD 4,900.1 million in 2018. The segment growth can be attributed to a rising need for water treatment chemicals across industries such as power generation, oil & gas, and metalworking, which is expected to boost the demand for water-based corrosion inhibitors. The solvent/oil-based segment is expected to grow at 3.61% CAGR during the review period.


Based on end-use industry, the global market has been segmented into power generation, oil & gas, chemical processing, metal processing, and others. The power generation segment accounted for the largest market share in 2018 and is expected to register 5.1% CAGR during the forecast period. Power plants require large volumes of treated water. Corrosion inhibitors are an internal part of the industry to keep heat transfer equipment performing at optimum efficiency.  Increasing investments in the power generation industry in developing and developed markets is another important factor in supporting market growth. The growth of the oil and gas industry in emerging economies in Asia-Pacific is expected to boost the demand for corrosion inhibitors at a significant rate in the coming years.


Global Corrosion Inhibitors Market Share, by Region, 2018 (%)  Corrosion Inhibitors Market


Sources: MRFR Analysis


Regional Analysis


The market in Asia-Pacific accounted for the largest share of 41.2% of the corrosion inhibitors market in 2018 with a market value of USD 3,142.1 million and is expected to grow at 5.3% CAGR during the review period. The market growth can be attributed to growing oil and gas industry in the developing economies of Asia-Pacific with increasing investment in oil & gas production and extraction activities to meet the rising demand for petroleum products, fuel, and energy in numerous applications. Additionally, the growth of the oil & gas, paper, and pulp, and chemical processing industries is likely to lead to an increased demand for water treatment chemicals to treat the wastewater generated by these industries. Therefore, the growth of various industries in emerging economies presents lucrative opportunities for manufacturers of corrosion inhibitors. China accounted for the largest market share in 2018 in the region. 


The European market is projected to register 2.7% CAGR during the review period, 2019–2025. The growth is attributed to the increasing regulations against wastewater discharge which has led to the adoption of reverse osmosis (RO) membranes and other processes to enable plants to reuse and recycle water.


The North American market is expected to register 3% CAGR during the review period. The market in the US generated around 80.6% of the total revenue in the region. This can be attributed to the significant increase in shale gas extraction using hydraulic fracturing technology resulting in an increased need for water.


The rest of the world includes Latin America and the Middle East & Africa and is expected to register 5% CAGR during the review period on account of rapidly expanding industrialization in both regions.


Key Players


Cortec Corporation (US), Air Products & Chemicals Inc. (US), ICL Advanced Additives (US), Ashland (US), Henkel AG & Co. (Germany), KGaA, Ecolab (US), Akzo Nobel NV (Netherlands), Solvay (Belgium), DowDupont (US), Ganesh Benzoplast Limited (India), ACURO ORGANICS LIMITED (India), and Chemtex Speciality Limited (India).


Market Segmentation


Global Corrosion inhibitors Market, by Product



  • Organic Corrosion Inhibitor

  • Inorganic Corrosion Inhibitor


Global Corrosion inhibitors Market, by Application



  • Water-Based Corrosion Inhibitor

  • Oil/Solvent-Based Corrosion Inhibitor


Global Corrosion inhibitors Market, by End-Use Industry



  • Power Generation

  • Oil & Gas

  • Chemical Processing

  • Metal Processing

  • Others


Global Corrosion inhibitors Market, by Region



  • North America

    • US

    • Canada





  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Italy

    • Rest of Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Rest of Asia-Pacific



  • Rest of World


Available Additional Customizations



  • Pricing Analysis

  • Product Mapping


Intended Audience



  • Corrosion inhibitors manufacturers

  • Retailers, distributors, and wholesalers

  • Governments, associations, and industrial bodies

  • Investors and trade experts



Frequently Asked Questions (FAQ) :


The corrosion inhibitors market is predicted to grow at a 3.53% CAGR between 2018-2023.

The global corrosion inhibitors market is predicted to touch USD 9,388.4 million by 2023.

Asia Pacific is predicted to dominate the corrosion inhibitors market.

Key competitors in the corrosion inhibitors market include ICL/Advanced Additives (U.S.), Henkel AG & CO. KGaA (Germany), Cortec Corporation (U.S.), AkzoNobel NV (The Netherlands), Ganesh Benzoplast Limited (India), Air Products and Chemicals Inc. (U.S.), Ashland (U.S.), Acuro Organics Limited (India), DowDupont (U.S.), Chemtex Specialty Limited (India), Ecolab (U.S.), and Solvay (Belgium).

Key players are incorporating various strategies to create a footprint in the market such as geographical expansions, mergers, product launches, and partnerships.

Corrosion Inhibitors Market - Summary


Overview


The growing use of environmentally sustainable corrosion inhibitors is likely to become an important feature of the global corrosion inhibitors market over the forecast period. Green technology is increasingly being incorporated into corrosion inhibitors, as the runoff and other byproducts of conventional corrosion inhibitors can be highly dangerous to the environment and can have effects such as polluting water bodies and the soil. This is likely to remain a key factor in the growth and development of the global corrosion inhibitors market over the forecast period. The non-toxicity, low cost, and easy production of natural corrosion inhibitors are also likely to be prime drivers for the segment over the forecast period.


Corrosion inhibitors are chemicals added to flow pipelines, coolants, fuels, hydraulic fluids, and engine oil, among others, to prevent corrosion or to reduce the rate of corrosion. These may be organic or inorganic in nature, depending upon the nature of the job in hand and the relevance of the peculiar characteristics of each type. Corrosion inhibitors prevent the entry of corrosive radicals such as oxygen, helping preserve the original solidity of the base material. In this way, they perform a crucial role in applications where any leakage caused by rusting can be highly hazardous, such as the oil and gas industry and the chemical processing industry.


The global corrosion inhibitors market is likely to grow at a steady growth rate over the forecast period due to the growing demand for corrosion inhibitors from the oil and gas industry. Increasing production efforts in the oil and gas industry have driven the demand for the numerous accessories required in the industry, including corrosion inhibitors. These activities are not limited only to developed countries, but are present in a number of developing countries as well. This is likely to be a major driver for the global corrosion inhibitors market over the forecast period. On the other hand, the increasing adoption of thermoplastics in the key end-use industries of corrosion inhibitors could emerge as a major restraint against the global corrosion inhibitors market over the forecast period.


Segmentation


The report segments the global corrosion inhibitors market by product, application, end-use industry, and region in order to provide readers with a comprehensive look at the market. The product segmentation of the global corrosion inhibitors market includes organic and inorganic corrosion inhibitors. The organic corrosion inhibitors segment is likely to dominate the global corrosion inhibitors market over the forecast period due to its advantages such as higher resistance to chemicals, water resistance, and lower chances of blistering.


By application, the global corrosion inhibitors market is segmented into water-based and solvent/oil-based corrosion inhibitors. The water-based corrosion inhibitors segment dominates the global market due to the lower presence of volatile organic compounds in water-based corrosion inhibitors, which makes them environmentally more viable. Based on end use, the market is segmented into power generation, metal processing, oil and gas, chemical processing, and others. Of these, the power generation industry is likely to hold the largest share in the global corrosion inhibitors market over the forecast period.


Based on region, the global corrosion inhibitors market is segmented into North America, Europe, Asia Pacific, and Rest-of-the-World (RoW). Asia Pacific is likely to lead the global corrosion inhibitors market over the forecast period due to the growing industrialization in the region.


Competitive Analysis:


Key players in the global corrosion inhibitors market include DowDupont (U.S.), Ganesh Benzoplast Limited (India), Ecolab (U.S.), AkzoNobel NV (The Netherlands), Solvay (Belgium), Chemtex Specialty Limited (India), ICL/Advanced Additives (U.S.), Cortec Corporation (U.S.), Henkel AG & CO. KGaA (Germany), Air Products and Chemicals Inc. (U.S.), Ashland (U.S.), and Acuro Organics Limited (India).

1 Executive Summary


2 Market Introduction


2.1 Definition 18


2.2 Scope Of The Study 18


2.3 List Of Assumptions 19


2.4 Market Structure 19


3 Research Methodology


3.1 Research Process 21


3.2 Primary Research 22


3.3 Secondary Research 23


3.4 Market Size Estimation 23


3.5 Forecast Model 24


4 Market Dynamics


4.2 Introduction 26


4.3 Drivers 27


4.3.1 Increasing Demand For Corrosion Inhibitors In Water Treatment 27


4.3.2 Growing Demand In Major Industries 27


4.3.3 Drivers Impact Analysis 28


4.4 Restraints 28


4.4.1 Use Of Thermoplastics In Flow Pipelines 28


4.4.2 Restraints Impact Analysis 29


4.5 Opportunities And Trends 29


4.5.1 Rapid Industrialization In Emerging Economies 29


4.5.2 Increasing Emphasis On Green Corrosion Inhibitors And Nanomaterials 30


5 Market Factor Analysis


5.1 Supply Chain Analysis 32


5.1.1 Raw Material Suppliers 32


5.1.2 Corrosion Inhibitor Manufacturers 32


5.1.3 Distribution Channel 32


5.1.4 End-Use Industries 33




5.2 Porter’s Five Forces Model 33


5.2.1 Threat Of New Entrants 34


5.2.2 Threat Of Rivalry 34


5.2.3 Threat Of Substitutes 34


5.2.4 Bargaining Power Of Suppliers 34


5.2.5 Bargaining Power Of Buyers 34


6 Global Corrosion Inhibitors Market, By Product


6.1 Introduction 36


6.2 Organic Corrosion Inhibitors 37


6.3 Inorganic Corrosion Inhibitors 38


7 Global Corrosion Inhibitors Market, By Application


7.1 Introduction 42


7.2 Water-Based Corrosion Inhibitors 44


7.3 Oil/Solvent Corrosion Inhibitors 45


8 Global Corrosion Inhibitors Market, By End-Use Industry


8.1 Introduction 47


8.2 Power Generation 49


8.3 Oil & Gas 50


8.4 Metal Processing 51


8.5 Chemical Processing 52


8.6 Others 53


9 Global Corrosion Inhibitors Market, By Region


9.1 Introduction 55


9.2 North America 59


9.2.1 US 61


9.2.2 Canada 63


9.3 Europe 66


9.3.1 Germany 69


9.3.2 UK 71


9.3.3 France 73


9.3.4 Spain 75


9.3.5 Italy 77


9.3.6 Rest Of Europe 79




9.4 Asia Pacific 81


9.4.1 China 84


9.4.2 Japan 86


9.4.3 India 88


9.4.4 Rest Of Asia Pacific 90


9.5 Rest Of World 92


10 Competitive Landscape


10.1 Introduction 96


10.2 Recent Developments 96


11 Company Profiles


11.1 Cortec Corporation 98


11.1.1 Company Overview 98


11.1.2 Financial Overview 98


11.1.3 Products Offered 98


11.1.4 Key Developments 98


11.1.5 SWOT Analysis 99


11.1.6 Key Strategy 99


11.2 Air Products & Chemicals Inc. 100


11.2.1 Company Overview 100


11.2.2 Financial Overview 100


11.2.3 Products Offered 101


11.2.4 Key Developments 101


11.2.5 SWOT Analysis 101


11.2.6 Key Strategies 101


11.3 ICL\ Advanced Additives 102


11.3.1 Company Overview 102


11.3.2 Financial Overview 102


11.3.3 Products Offered 103


11.3.4 Key Developments 103


11.3.5 SWOT Analysis 103


11.3.6 Key Strategies 103




11.4 Ashland 104


11.4.1 Company Overview 104


11.4.2 Financial Overview 104


11.4.3 Products Offered 105


11.4.4 Key Developments 105


11.4.5 SWOT Analysis 105


11.4.6 Key Strategy 105


11.5 Henkel AG & Co., KGaA 106


11.5.1 Company Overview 106


11.5.2 Financial Overview 106


11.5.3 Products Offered 106


11.5.4 Key Developments 107


11.5.5 SWOT Analysis 107


11.5.6 Key Strategy 107


11.6 Ecolab 108


11.6.1 Company Overview 108


11.6.2 Financial Overview 108


11.6.3 Products Offered 109


11.6.4 Key Developments 109


11.6.5 SWOT Analysis 109


11.6.6 Key Strategy 109


11.7 Akzo Nobel NV 110


11.7.1 Company Overview 110


11.7.2 Financial Overview 110


11.7.3 Products Offered 111


11.7.4 Key Developments 111


11.7.5 SWOT Analysis 111


11.7.6 Key Strategies 111


11.8 Solvay 112


11.8.1 Company Overview 112


11.8.2 Financial Overview 112


11.8.3 Products Offered 112


11.8.4 Key Developments 113


11.8.5 SWOT Analysis 113


11.8.6 Key Strategies 113


11.9 DowDupont 114


11.9.1 Company Overview 114


11.9.2 Financial Overview 114


11.9.3 Products Offered 114


11.9.4 Key Developments 115


11.9.5 SWOT Analysis 115


11.9.6 Key Strategy 115


11.10 Ganesh Benzoplast Limited 116


11.10.1 Company Overview 116


11.10.2 Financial Overview 116


11.10.3 Products Offered 117


11.10.4 Key Developments 117


11.10.5 SWOT Analysis 117


11.10.6 Key Strategy 117


11.11 ACURO ORGANICS LIMITED 118


11.11.1 Company Overview 118


11.11.2 Financial Overview 118


11.11.3 Products Offered 118


11.11.4 Key Developments 118


11.11.5 SWOT Analysis 118


11.11.6 Key Strategies 118


11.12 Chemtex Speciality Limited 119


11.12.1 Company Overview 119


11.12.2 Financial Overview 119


11.12.3 Products Offered 119


11.12.4 Key Developments 119


11.12.5 SWOT Analysis 119


11.12.6 Key Strategy 119


12 Conclusion


12.1 Key Findings 121


13 List Of Tables


TABLE 1 MARKET SYNOPSIS 16


TABLE 2 LIST OF ASSUMPTIONS 19


TABLE 3 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 36


TABLE 4 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 37


TABLE 5 GLOBAL CORROSION INHIBITORS MARKET FOR ORGANIC CORROSION INHIBITORS, BY REGION 2020-2027(USD MILLION) 37


TABLE 6 GLOBAL CORROSION INHIBITORS MARKET FOR ORGANIC CORROSION INHIBITORS, BY REGION 2020-2027(KILOTONS) 38


TABLE 7 GLOBAL CORROSION INHIBITORS MARKET FOR INORGANIC CORROSION INHIBITORS, BY REGION 2020-2027(USD MILLION) 38


TABLE 8 GLOBAL CORROSION INHIBITORS MARKET FOR INORGANIC CORROSION INHIBITORS, BY REGION 2020-2027(KILOTONS) 40


TABLE 9 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 42


TABLE 10 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(KILOTONS) 43


TABLE 11 GLOBAL CORROSION INHIBITORS MARKET FOR WATER-BASED CORROSION INHIBITORS, BY REGION 2020-2027(USD MILLION) 44


TABLE 12 GLOBAL CORROSION INHIBITORS MARKET FOR WATER-BASED CORROSION INHIBITORS, BY REGION 2020-2027(KILOTONS) 44


TABLE 13 GLOBAL CORROSION INHIBITORS MARKET FOR OIL/SOLVENT CORROSION INHIBITORS, BY REGION 2020-2027(USD MILLION) 45


TABLE 14 GLOBAL CORROSION INHIBITORS MARKET FOR OIL/SOLVENT CORROSION INHIBITORS, BY REGION 2020-2027(KILOTONS) 45


TABLE 15 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 47


TABLE 16 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 48


TABLE 17 GLOBAL CORROSION INHIBITORS MARKET FOR POWER GENERATION, BY REGION 2020-2027(USD MILLION) 49


TABLE 18 GLOBAL CORROSION INHIBITORS MARKET FOR POWER GENERATION, BY REGION 2020-2027(KILOTONS) 49


TABLE 19 GLOBAL CORROSION INHIBITORS MARKET FOR OIL & GAS, BY REGION 2020-2027(USD MILLION) 50


TABLE 20 GLOBAL CORROSION INHIBITORS MARKET FOR OIL & GAS, BY REGION 2020-2027(KILOTONS) 50


TABLE 21 GLOBAL CORROSION INHIBITORS MARKET FOR METAL PROCESSING, BY REGION 2020-2027(USD MILLION) 51


TABLE 22 GLOBAL CORROSION INHIBITORS MARKET FOR METAL PROCESSING, BY REGION 2020-2027(KILOTONS) 51


TABLE 23 GLOBAL CORROSION INHIBITORS MARKET FOR CHEMICAL PROCESSING, BY REGION 2020-2027(USD MILLION) 52


TABLE 24 GLOBAL CORROSION INHIBITORS MARKET FOR CHEMICAL PROCESSING, BY REGION 2020-2027(KILOTONS) 52


TABLE 25 GLOBAL CORROSION INHIBITORS MARKET FOR OTHERS, BY REGION 2020-2027(USD MILLION) 53


TABLE 26 GLOBAL CORROSION INHIBITORS MARKET FOR OTHERS, BY REGION 2020-2027(KILOTONS) 53


TABLE 27 GLOBAL CORROSION INHIBITORS MARKET, BY REGION 2020-2027(USD MILLION) 55


TABLE 28 GLOBAL CORROSION INHIBITORS MARKET, BY REGION 2020-2027(KILOTONS) 56


TABLE 29 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 56


TABLE 30 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 56


TABLE 31 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 57


TABLE 32 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(KILOTONS) 57


TABLE 33 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 58


TABLE 34 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 58


TABLE 35 NORTH AMERICA CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(USD MILLION) 59


TABLE 36 NORTH AMERICA CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(KILOTONS) 59


TABLE 37 NORTH AMERICA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 59


TABLE 38 NORTH AMERICA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 60


TABLE 39 NORTH AMERICA CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 60


TABLE 40 NORTH AMERICA CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 60


TABLE 41 NORTH AMERICA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 61


TABLE 42 NORTH AMERICA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 61


TABLE 43 US CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 61


TABLE 44 US CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 62


TABLE 45 US CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 62


TABLE 46 US CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 62


TABLE 47 US CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 63


TABLE 48 US CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 63


TABLE 49 CANADA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 63


TABLE 50 CANADA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 64


TABLE 51 CANADA CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 64


TABLE 52 CANADA CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 64


TABLE 53 CANADA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 65


TABLE 54 CANADA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 65


TABLE 55 EUROPE CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(USD MILLION) 66


TABLE 56 EUROPE CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(KILOTONS) 66


TABLE 57 EUROPE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 67


TABLE 58 EUROPE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 67


TABLE 59 EUROPE CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 67


TABLE 60 EUROPE CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 68


TABLE 61 EUROPE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 68


TABLE 62 EUROPE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 68


TABLE 63 GERMANY CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 69


TABLE 64 GERMANY CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 69


TABLE 65 GERMANY CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 69


TABLE 66 GERMANY CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 70


TABLE 67 GERMANY CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 70


TABLE 68 GERMANY CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 70


TABLE 69 UK CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 71


TABLE 70 UK CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 71


TABLE 71 UK CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 71


TABLE 72 UK CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 72


TABLE 73 UK CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 72


TABLE 74 UK CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 72


TABLE 75 FRANCE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 73


TABLE 76 FRANCE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 73


TABLE 77 FRANCE CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 73


TABLE 78 FRANCE CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 74


TABLE 79 FRANCE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 74


TABLE 80 FRANCE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 74


TABLE 81 SPAIN CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 75


TABLE 82 SPAIN CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 75


TABLE 83 SPAIN CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 75


TABLE 84 SPAIN CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 76


TABLE 85 SPAIN CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 76


TABLE 86 SPAIN CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 76


TABLE 87 ITALY CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 77


TABLE 88 ITALY CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 77


TABLE 89 ITALY CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 77


TABLE 90 ITALY CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 78


TABLE 91 ITALY CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 78


TABLE 92 ITALY CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 78


TABLE 93 REST OF EUROPE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 79


TABLE 94 REST OF EUROPE CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 79


TABLE 95 REST OF EUROPE CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 79


TABLE 96 REST OF EUROPE CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 80


TABLE 97 REST OF EUROPE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 80


TABLE 98 REST OF EUROPE CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 80


TABLE 99 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(USD MILLION) 81


TABLE 100 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(KILOTONS) 81


TABLE 101 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 82


TABLE 102 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 82


TABLE 103 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 82


TABLE 104 ASIA PACIFIC CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 83


TABLE 105 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 83


TABLE 106 ASIA PACIFIC CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 83


TABLE 107 CHINA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 84


TABLE 108 CHINA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 84


TABLE 109 CHINA CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 84


TABLE 110 CHINA CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 85


TABLE 111 CHINA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 85


TABLE 112 CHINA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 85


TABLE 113 JAPAN CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 86


TABLE 114 JAPAN CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 86


TABLE 115 JAPAN CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 86


TABLE 116 JAPAN CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 87


TABLE 117 JAPAN CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 87


TABLE 118 JAPAN CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 87


TABLE 119 INDIA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 88


TABLE 120 INDIA CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 88


TABLE 121 INDIA CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 88


TABLE 122 INDIA CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 89


TABLE 123 INDIA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 89


TABLE 124 INDIA CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 89


TABLE 125 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 90


TABLE 126 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 90


TABLE 127 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 90


TABLE 128 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET BY APPLICATION 2020-2027(KILOTONS) 91


TABLE 129 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 91


TABLE 130 REST OF ASIA PACIFIC CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 91


TABLE 131 REST OF WORLD CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(USD MILLION) 92


TABLE 132 REST OF WORLD CORROSION INHIBITORS MARKET, BY COUNTRY 2020-2027(KILOTONS) 92


TABLE 133 REST OF WORLD CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 92


TABLE 134 REST OF WORLD CORROSION INHIBITORS MARKET BY PRODUCT 2020-2027(KILOTONS) 93


TABLE 135 REST OF WORLD CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 93


TABLE 136 REST OF WORLD CORROSION INHIBITORS MARKET , BY APPLICATION 2020-2027(KILOTONS) 93


TABLE 137 REST OF WORLD CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 94


TABLE 138 REST OF WORLD CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 94


TABLE 139 KEY DEVELOPMENTS 96


14 List Of Figures


FIGURE 1 GLOBAL CORROSION INHIBITORS MARKET: MARKET STRUCTURE 19


FIGURE 2 RESEARCH PROCESS OF MRFR 21


FIGURE 3 TOP-DOWN AND BOTTOM-UP APPROACH 24


FIGURE 4 MARKET DYNAMICS OVERVIEW 26


FIGURE 5 DRIVERS IMPACT ANALYSIS: GLOBAL CORROSION INHIBITORS MARKET 28


FIGURE 6 RESTRAINTS IMPACT ANALYSIS: GLOBAL CORROSION INHIBITORS MARKET 29


FIGURE 7 SUPPLY CHAIN: GLOBAL CORROSION INHIBITORS MARKET 32


FIGURE 8 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL CORROSION INHIBITORS MARKET 33


FIGURE 9 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(USD MILLION) 36


FIGURE 10 GLOBAL CORROSION INHIBITORS MARKET, BY PRODUCT 2020-2027(KILOTONS) 37


FIGURE 11 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(USD MILLION) 42


FIGURE 12 GLOBAL CORROSION INHIBITORS MARKET, BY APPLICATION 2020-2027(KILOTONS) 43


FIGURE 13 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(USD MILLION) 47


FIGURE 14 GLOBAL CORROSION INHIBITORS MARKET, BY END-USE INDUSTRY 2020-2027(KILOTONS) 48


FIGURE 15 GLOBAL CORROSION INHIBITORS MARKET, BY REGION 2020-2027(USD MILLION) 55


FIGURE 16 GLOBAL CORROSION INHIBITORS MARKET, BY REGION 2020-2027(KILOTONS) 56

Global Corrosion inhibitors Market: Competitive Landscape


The prominent players in the global corrosion inhibitors market are Cortec Corporation, Air Products & Chemicals Inc., ICL\ Advanced Additives, Ashland, Henkel AG & Co., KGaA, Ecolab, Akzo Nobel NV, Solvay, DowDuPont, Ganesh Benzoplast Limited, Acuro Organics Limited, and Chemtex Speciality Limited.     


Ecolab, Cortec Corporation, ICL\ Advanced Additives , and Ashland collectively hold the majority share of the global corrosion inhibitors market. The market players emphasize business expansion and new product development i.e., organic corrosion inhibitors, owing to their cost-competitiveness and biodegradability.


Ecolab is one of the global leaders in water, hygiene, and energy technologies. It offers various corrosion inhibitors under the NALCO Champion such as silver corrosion inhibitors, copper corrosion inhibitors, and ferrous corrosion inhibitors. The company is focused on new product development by investing huge amount in R&D activities. For instance, in July 2018, the company launched a yellow metal corrosion inhibitor, which is used in cooling water flowlines to provide superior protection to the equipment, while reducing environmental impact and improving supply stability compared to traditional treatment


Cortec Corporation manufactures and markets corrosion protection solutions. It offers various vapor phase corrosion inhibitors (VpCIs) and migrating corrosion inhibitors (MCIs) products for electrical and electronic and oil and gas industries among others. The company emphasizes business expansion and new product development. In June 2018, it signed an exclusive agreement with A. S. Paterson Company for distribution of Cortec’s additives across Canada.


ICL\ Advanced Additives is a global leader in providing HALOX corrosion inhibitors to paints and coatings markets. The company also offers corrosion testing facility services to perform ASTM (American Society for Testing and Materials) B117 salt spray, ASTM D5894 QUV condensation, ASTM D2247 humidity, flash rust, and electrochemical impedance spectroscopy testing. The products offered includes flash rust, hybrid, inorganic, organic, specialty corrosion inhibitors, tannin stain inhibitors for aerosol, aerospace, agricultural and construction equipment, architectural, automotive refinish, industrial maintenance, marine, and metal pre-treatment applications. In 2016, HALOX launched a new corrosion inhibitor called Halox 570. This is the powdered form of corrosion inhibitor designed to fight flash rust and galvanic corrosion.


Ashland manufactures and distributes adhesives and architectural coatings for numerous industries such as automotive, construction, energy, food and beverage, personal care and pharmaceutical. It provides innovative corrosion-resistant solutions and application guidance for chemical environments, especially for fiber-reinforced polymers (FRP). The products offered by the company under the brand name Derakane and Hetron epoxy vinyl ester resins are heavily used as a corrosion resistant in wastewater treatment, chemical processing, mineral processing, and paper and pulp industries.