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Corrosion Inhibitors Market: Industry Potential, Trends and forecast 2016 - 2023

Author : Ronak Bora | Published Date : 2019-04-08 

The Corrosion Inhibitors Market report add detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the industry based on product segment, technology, end user segment and region.

Positive indicators towards rise in construction spending across the globe is the major factor driving global corrosion inhibitors market over the projected timespan. Increase in usage of product in coating construction materials such as nuts & bolts, steel & steel bars and metal components will complement industry growth by 2023. It enhances product life time and durability as it protects the material against corrosion caused due to harsh weather conditions and atmospheric moisture.

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Corrosion inhibitors are important raw materials for water treatment chemicals. Rise in demand for water treatment chemicals on account of decreasing clean and fresh water resources owing to rapid industrialization and urbanization may stimulate further market growth. High demand of clean water from chemical, electronics and medical industries will boost product demand.

Increase in usage of product results in dumping of harmful raw materials used in industry such as zinc, chromium and phosphorus. Strict environmental regulations regarding disposal of corrosion inhibitors and its exposure to human may hinder corrosion inhibitors market growth.

Organic corrosion inhibitors may surpass USD 6 billion by 2023. Benzotriazole, tolyltriazole, organic amines, mercaptobenzothiazole and phosphonates are the key organic products widely used in industry due to its stabilizing properties. Increasing concerns pertaining to adverse effects of inorganic products on environment will further complement industry growth.

Oil or solvent based applications of corrosion inhibitors may register growth at over 4% by the end of projected period. Oil or solvent based application include steel, aluminum, zinc, cast iron, copper and alloys. However, it has limited scope owing to its higher flammability properties while operating in closed systems, which may negatively affect demand.

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Global corrosion inhibitors Market for power generation may witness significant gains at over 5% over the projected timespan. It is widely used across equipment used in power generation such as switch gears, gas turbines, pumps and electronic devices. Rising worldwide population leads to increase in energy demand, thereby stimulating industrial growth.

Oil & gas industries from corrosion inhibitors may surpass USD 1.8 billion by 2023. Positive application scope in oil & gas exploration and production as the equipment are exposed to harsh climatic conditions and requires protection against corrosion. Increase in shale gas exploration in Russia, China and the U.S. will spur business by 2023.

North America, driven by the U.S., corrosion inhibitors market may witness above average gains at over 4% by the end of projected timeframe. Robust growth of oil & gas industry along with rise in construction industry after 2008 economic crisis should fuel product demand.

Global corrosion inhibitors market share is fairly consolidated with prominent players including DuPont, Cortec, Dow Chemical, Halox, AkzoNobel, Daubert, Champion Technologies, Eastman, Lubrizol, Dai-Ichi, Cytec and Henkel.

Browse key industry insights spread across 95 pages with 78 market data tables & 14 figures & charts from the report, “Corrosion Inhibitors Market” in detail along with the table of contents:

www.gminsights.com/industry-analysis/corrosion-inhibitors-market-report

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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