The global corrosion inhibitors market size was valued at USD 7.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) 3.8% from 2020 to 2027.
The growth in the market can be attributed to the development of biobased and more eco-friendly corrosion inhibitors. A gradual shift toward the development of environment-friendly corrosion inhibitors may potentially lead the market toward sustainable development and increase the acceptance of corrosion inhibitors among sustainable end users. A corrosion inhibitor functions by creating a barrier over the coated surface and preventing it from moisture, which is primarily the primary cause of erosion. The mechanisms of organic products include interfacial activity, anodic activity, cathodic activity, barrier activity, and adsorption activity.
Gather more insights about the market drivers, restrains and growth of the Corrosion Inhibitors Market
Corrosion Inhibitors Market Report Highlights
• In 2019, organic emerged as the prominent product segment owing to their broad utilization in the petroleum refining industry because of their ability to form a protective layer on the metal surface of transporting pipes
• In 2019, oil-based emerged as the prominent type segment owing to the excellent performance of these corrosion inhibitors in high-velocity flow conditions and elevated pressure
• In 2019, oil and gas emerged as the prominent end-use segment owing to a surge of serious internal corrosion problems in several refineries, pipelines, and petrochemical plants, along with mounting production.
Browse through Grand View Research's Organic Chemicals Industry Research Reports.
• The global caprolactam market was valued at USD 15.3 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030.
• The global potting compounds market size was estimated at USD 33,275.20 million in 2023 and is projected to grow at a CAGR of 3.2% in terms of revenue from 2024 to 2030.
Corrosion Inhibitors Market Segmentation
Grand View Research has segmented the global corrosion inhibitors market on the basis of product, type, end use, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Organic
• Inorganic
Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Water Based
• Oil Based
End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• Power Generation
• Oil & Gas
• Paper & Pulp
• Metal Processing
• Chemical Processing
• Water Treatment
• Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
• North America
o The U.S
o Canada
o Mexico
• Europe
o Germany
o The U.K.
o France
o Italy
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Iran
o Iraq
o Kuwait
o Oman
o Bahrain
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