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Corrosion Inhibitors Market share research by applications and regions from 2016 to 2023

Author : Ronak Bora | Published Date : 2019-05-13 

The Corrosion Inhibitors Market is set to grow from its current market value of more than $6 billion to over $8 billion by 2023; as reported in the latest study by Global Market Insights, Inc.

Global Corrosion Inhibitors Market size was projected to expand at more than 5100 kilo tons for 2015 in terms of size and is expected to register higher than 4% CAGR by end of forecast timeline. The industry revenue is projected to surpass $ 8.9 billion by end of forecast timeline.

Global water treatment chemicals industry is projected to register revenue of more than $32 billion by end of forecast timeline. Growing demand for pure and clean water in different industrial segments like medical segment, chemical segment and electronics segment is projected to promote corrosion inhibitors industry trends.

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Expansion of green corrosion inhibitors industry can witness a breakthrough in product techniques and demand. Increased use of corrosion inhibitors has led to correct steps being taken for its disposal. Inappropriate disposal adversely impacts the climate which can lead to instability in global corrosion inhibitors market price trends.

Global corrosion inhibitors industry is segmented into various applications like oil based application or solvent based application and water based application.

Water based application segment is projected to surpass $6.8 billion revenue by end of forecast timeline. These applications are projected to experience growth and are promoted by rising water treatment requirements and demographic indicators. Rise in energy production, construction sector, refining and mining sector is projected to lead to enhanced demand for the segment.

Global corrosion inhibitors market is segmented into organic and inorganic products. Organic products segment is projected to register a CAGR of 5.2% in terms of size during forecast timeline.

Global corrosion inhibitors industry is segmented into end use applications like power production, oil & gas, metal processing, pulp & paper and chemical processing.

Power production segment contributed more than $1.9 billion of overall revenue for 2015. It aids in effective operations of electronics, gas turbines, switch gears and pumps. Due to all these factors the segment is predicted to experience a tremendous growth in future.

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North America, primarily led by the U.S., generated revenue at over USD 1.5 billion in 2015. The regional corrosion inhibitors market size is mainly driven by strong growth in the U.S. oil & gas industry along with elevating construction business after 2008 economic downturn.

Key companies in the global corrosion inhibitors market share are Ecolab, BASF, DuPont, Dow, Champion Technologies, AkzoNobel, Daubert, Eastman, Lubrizol, Dai-Ichi, Cytec, Cortec, Henkel and Halox.

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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