PUBLISHER: Value Market Research | PRODUCT CODE: 1392335
PUBLISHER: Value Market Research | PRODUCT CODE: 1392335
The global demand for Corrosion Inhibitors Market is presumed to reach the market size of nearly USD 14.07 BN by 2030 from USD 9.67 BN in 2022 with a CAGR of 4.8% under the study period of 2023 - 2030.
Corrosion inhibitors extend the life of metals and alloys by preventing corrosion and rusting, and increase oil and gas production in various end-use industries, including power generation, oil and gas, refinery, metal and mining, pharmaceutical and utilities, and others. The use of corrosion inhibitors in industries reduces maintenance and repair costs, extends the useful life of equipment,along with reducing product loss. Corrosion inhibitors are available in various forms, namely, gaseous, liquid, powdered and solid.
The oil and gas industry's rise in demand for corrosion inhibitors is the root cause fuelling the market growth rate. Moreover, the growing use of corrosion inhibitors for a wide range of end-user applications such as power generation, chemical processing, and other end-user applications will also directly and positively impact the market's growth rate. Besides that, the rising number of power plants, increasing crude oil production, and increasing buildings and construction projects propel the market growth. In addition, rising expenditure for research and development proficiencies by the major companies and growing focus on the technological advancements and modernization of manufacturing techniques will further carve the way for the market's growth. However, several environmental concerns and issues associated with raw materials used in corrosion inhibitors are expected to hamper the market's growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of corrosion inhibitors. The growth and trends of Corrosion Inhibitors Industry provide a holistic approach to this study.
This section of the corrosion inhibitors market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Corrosion Inhibitors market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the corrosion inhibitors market include Nouryon, Cortec Corporation, Ashland, Ecolab, Henkel Iberica, S.A., The Lubrizol Company, BASF SE, Dow, DuPont de Nemours, Inc., Baker Hughes, a GE company LLC. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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