IMARC Group, a leading market research company, has recently released a report titled “Corrosion Inhibitors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global corrosion inhibitors market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Corrosion Inhibitors Market?
The global corrosion inhibitors market size reached US$ 8.14 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.56 Billion by 2028, exhibiting a growth rate (CAGR) of 4.33% during 2023-2028.
What is Corrosion Inhibitors?
Corrosion inhibitors represent numerous materials that create a protective barrier on metal surfaces to prevent corrosion by preventing the chemical reactions which cause it. This protective layer extends the lifespan of the metal by shielding it from the corrosive environment. Corrosion inhibitors can be organic or inorganic compounds and are available in liquid, solid, or gas forms. Additionally, they are stable, soluble in the applied medium, and compatible with other system components. These materials efficiently reduce the corrosion rate of the metal and selectively target the metal surface without interfering with other processes or materials.
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What are the Growth Prospects and Trends in the Corrosion Inhibitors Industry?
The escalating demand for these materials in several sectors, such as oil and gas, petrochemicals, power generation, and manufacturing, is primarily driving the corrosion inhibitors market. Furthermore, the increasing number of infrastructure development projects, such as the construction of public structures and buildings, is also augmenting the market growth. Apart from this, the implementation of stringent environmental regulations by government bodies and other regulatory bodies across countries to minimize the impact of chemical substances on the environment is positively influencing the global market. Moreover, the shifting consumer preferences towards the development of green and sustainable corrosion inhibitors are further bolstering the market growth. Besides this, the elevating requirement of oil and gas exploration activities and the rising sales of passenger vehicles are acting as significant growth-inducing factors. Additionally, continuous product innovations and extensive investments in R&D activities by key players are expected to drive the corrosion inhibitors market in the coming years.
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Who are the Key Players Operating in the Corrosion Inhibitors Market?
The report has also provided a comprehensive analysis of the competitive landscape in the global corrosion inhibitors market. Some of the companies covered include
- Baker Hughes Company
- BASF SE, ChampionX
- Chemtex Speciality Limited
- Cortec Corporation
- Dai-ichi India Pvt. Ltd.
- DuPont de Nemours Inc.
- Ecolab Inc.
- Henkel Adhesives Technologies India Private Limited (Henkel AG & Co. KGaA)
- LANXESS Aktiengesellschaft
- Nouryon Holding B.V.
- Solvay,
- The Lubrizol Corporation (Berkshire Hathaway Inc.)
What is Included in Market Segmentation?
The report has categorized the market based on product, type, end use and region.
Product Insights:
- Organic
- Inorganic
Type Insights:
- Water Based
- Oil Based
End Use Insights:
- Power Generation
- Oil and Gas
- Paper and Pulp
- Metal Processing
- Chemical Processing
- Water Treatment
- Others
Regional Analysis:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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