Global Corrosion Inhibitors Market Size Study, by Compound, by Type, by Application, by End Use, and Regional Forecasts 2022-2032

Description

The Global Corrosion Inhibitors Market is valued at approximately USD 8.69 billion in 2023 and is projected to expand at a healthy compound annual growth rate (CAGR) of 4.90% during the forecast period from 2024 to 2032. Corrosion inhibitors play an essential role in mitigating metal degradation, particularly in challenging industrial environments. These chemical compounds, designed to slow or prevent corrosion in metallic surfaces, find widespread applications across industries like oil & gas, power generation, and utilities, offering reliable solutions to preserve infrastructure longevity and operational efficiency.

The market's upward trajectory is primarily fueled by increasing industrialization and the global demand for enhanced infrastructure durability. Key sectors, including oil and gas, heavily depend on corrosion inhibitors to maintain the integrity of pipelines, machinery, and storage tanks. The adoption of advanced technologies, such as vapor corrosion inhibitors (VCI), has provided innovative solutions for challenging environments, further propelling market growth. Furthermore, environmental regulations advocating eco-friendly and sustainable corrosion protection have accelerated the development of organic inhibitors, aligning with the market's shift toward greener alternatives.

Power generation and utilities emerge as key end-use industries leveraging corrosion inhibitors to ensure uninterrupted operations and minimize maintenance costs. Simultaneously, the metal and mining sectors are significantly contributing to market demand by utilizing these chemicals to protect valuable assets in highly corrosive conditions. However, challenges such as fluctuating raw material prices and the complex nature of inhibitor formulations may restrain market growth. Despite this, expanding applications in emerging economies and a focus on research and development offer lucrative opportunities for market players.

Regionally, North America remains a dominant market due to its well-established industrial base and stringent regulatory frameworks promoting sustainable practices. Europe follows closely, driven by technological advancements and widespread adoption of eco-friendly inhibitors. Meanwhile, the Asia-Pacific region is poised to witness the fastest growth, supported by rapid industrialization, urbanization, and growing investments in infrastructure development in nations like China and India.

Major market players included in this report are:

BASF SE
Dow Inc.
Ecolab Inc.
Ashland Global Holdings Inc.
AkzoNobel N.V.
Henkel AG & Co. KGaA
Solvay S.A.
Cortec Corporation
Clariant AG
SUEZ Water Technologies & Solutions
Lubrizol Corporation
Eastman Chemical Company
Kemira Oyj
Dai-Ichi Kogyo Seiyaku Co., Ltd.
Chemtreat Inc.

The detailed segments and sub-segment of the market are explained below:

By Compound

Organic
Inorganic

By Type

Water Based
Oil Based
Vapor Corrosion Inhibitor (VCI)

By Application

(Detailed sub-segments can be specified based on market focus)

By End Use

Power Generation
Oil & Gas
Metal & Mining
Pulp & Paper
Utilities
Chemical

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market estimates & forecasts for 10 years, from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Comprehensive geographical landscape with country-level analysis of major regions.
Competitive landscape with detailed insights on major market players.
Strategic recommendations for businesses to navigate the competitive environment.
Analysis of demand-side and supply-side market dynamics.

Chapter 1. Global Corrosion Inhibitors Market Executive Summary

1.1. Global Corrosion Inhibitors Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Compound
- 1.3.2. By Type
- 1.3.3. By Application
- 1.3.4. By End Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Corrosion Inhibitors Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Corrosion Inhibitors Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Industrialization and Infrastructure Development
- 3.1.2. Adoption of Advanced Corrosion Inhibition Technologies
- 3.1.3. Stringent Environmental Regulations
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. Complex Nature of Inhibitor Formulations
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Economies
- 3.3.2. Innovations in Eco-Friendly Inhibitors
- 3.3.3. Growth in Power Generation and Utilities Sectors

Chapter 4. Global Corrosion Inhibitors Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Corrosion Inhibitors Market Size & Forecasts by Compound 2022-2032

5.1. Segment Dashboard
5.2. Global Corrosion Inhibitors Market: Compound Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Organic
- 5.2.2. Inorganic

Chapter 6. Global Corrosion Inhibitors Market Size & Forecasts by Type 2022-2032

6.1. Segment Dashboard
6.2. Global Corrosion Inhibitors Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Water Based
- 6.2.2. Oil Based
- 6.2.3. Vapor Corrosion Inhibitor (VCI)

Chapter 7. Global Corrosion Inhibitors Market Size & Forecasts by Application 2022-2032

7.1. Segment Dashboard
7.2. Global Corrosion Inhibitors Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. (Detailed sub-segments can be specified based on market focus)

Chapter 8. Global Corrosion Inhibitors Market Size & Forecasts by End Use 2022-2032

8.1. Segment Dashboard
8.2. Global Corrosion Inhibitors Market: End Use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 8.2.1. Power Generation
- 8.2.2. Oil & Gas
- 8.2.3. Metal & Mining
- 8.2.4. Pulp & Paper
- 8.2.5. Utilities
- 8.2.6. Chemical

Chapter 9. Global Corrosion Inhibitors Market Size & Forecasts by Region 2022-2032

9.1. North America Corrosion Inhibitors Market
- 9.1.1. U.S. Corrosion Inhibitors Market
  - 9.1.1.1. Compound Breakdown Size & Forecasts, 2022-2032
  - 9.1.1.2. Type Breakdown Size & Forecasts, 2022-2032
- 9.1.2. Canada Corrosion Inhibitors Market
9.2. Europe Corrosion Inhibitors Market
- 9.2.1. UK Corrosion Inhibitors Market
- 9.2.2. Germany Corrosion Inhibitors Market
- 9.2.3. France Corrosion Inhibitors Market
- 9.2.4. Spain Corrosion Inhibitors Market
- 9.2.5. Italy Corrosion Inhibitors Market
- 9.2.6. Rest of Europe Corrosion Inhibitors Market
9.3. Asia-Pacific Corrosion Inhibitors Market
- 9.3.1. China Corrosion Inhibitors Market
- 9.3.2. India Corrosion Inhibitors Market
- 9.3.3. Japan Corrosion Inhibitors Market
- 9.3.4. Australia Corrosion Inhibitors Market
- 9.3.5. South Korea Corrosion Inhibitors Market
- 9.3.6. Rest of Asia-Pacific Corrosion Inhibitors Market
9.4. Latin America Corrosion Inhibitors Market
- 9.4.1. Brazil Corrosion Inhibitors Market
- 9.4.2. Mexico Corrosion Inhibitors Market
- 9.4.3. Rest of Latin America Corrosion Inhibitors Market
9.5. Middle East & Africa Corrosion Inhibitors Market
- 9.5.1. Saudi Arabia Corrosion Inhibitors Market
- 9.5.2. South Africa Corrosion Inhibitors Market
- 9.5.3. Rest of Middle East & Africa Corrosion Inhibitors Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. BASF SE
- 10.1.2. Dow Inc.
- 10.1.3. Ecolab Inc.
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. BASF SE
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Market Strategies
- 10.3.2. Dow Inc.
- 10.3.3. Ecolab Inc.
- 10.3.4. Ashland Global Holdings Inc.
- 10.3.5. AkzoNobel N.V.
- 10.3.6. Henkel AG & Co. KGaA
- 10.3.7. Solvay S.A.
- 10.3.8. Cortec Corporation
- 10.3.9. Clariant AG
- 10.3.10. SUEZ Water Technologies & Solutions
- 10.3.11. Lubrizol Corporation
- 10.3.12. Eastman Chemical Company
- 10.3.13. Kemira Oyj
- 10.3.14. Dai-Ichi Kogyo Seiyaku Co., Ltd.
- 10.3.15. Chemtreat Inc.

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes