Corrosion Inhibitors Market: A Strong Growth Outlook from 2023 to 2035
Research Nester assesses the growth and market size of the global corrosion inhibitors market which is anticipated to be on account of the increasing usage of metal in various end-user industries and the increasing construction sector.
Research Nester’s recent market research analysis on “Corrosion Inhibitors Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global corrosion inhibitors market in terms of market segmentation by compound, type, end user, and by region.
Rising Water Treatment Plants across the World Using Metal Tanks to Promote Global Market Share of Corrosion Inhibitors
Corrosion is common in water treatment plants due to the many chemicals involved in the treatment process. Additionally, exposure to water, a highly corrosive substance, is anticipated to drive the growth of the market. The growing number of residential, commercial, and industrial water systems for producing distilled and purified water is driving the growth of the market over the forecast period. In 2021, based on the available data, India’s water treatment capacity was over 27% and the wastewater treatment capacity was 18%.
Some of the major growth factors and challenges that are associated with the growth of the global corrosion inhibitors market are:
Growth Drivers:
- High Demand for Corrosion Inhibitors in the Construction of Automobiles
- Increasing Industries with Rapid Urbanization and Industrialization
Challenges:
Many industries use corrosion-resistant materials such as ceramics, plastics, composites, and other alloys instead of metals and ferrous materials to reduce the risk of corrosion. The use of corrosion-resistant alloys is also increasing, as they are more sustainable materials. In addition, growing concerns about environmental damage and the development of super duplex stainless steel and duplex stainless steel materials for the oil and gas industry are likely to hamper the growth of the market in the years to come.
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By type, the global corrosion inhibitors market is segmented into three segments. The volatile corrosion inhibitors segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growing use of volatile inhibitors in the water treatment sector to treat and recycle contaminated water is driving the growth of the market segment. According to the market analysis, the expansion of end users such as automotive, aerospace, mining, and metallurgy is also likely to increase the demand for volatile corrosion inhibitors. The growing applications in power generation equipment and chemical processing should have a positive impact on the growth of the market segment. The growing packaging and manufacturing sector is expected to drive the growth of the market segment over the forecast period.
By region, the North American corrosion inhibitors market is to generate the highest revenue by the end of 2035. The market growth is mainly due to increased vehicle sales in the U.S. over the forecast period. The manufacturing and manufacturing sector is on the rise over the forecast period, with high demand from agriculture, food processing, oil refining, mining, and oil production expected to contribute to growth opportunities. It is estimated that the growing aircraft and marine sector is driving the growth of the market with the increasing construction of aircraft and ships.
This report also provides the existing competitive scenario of some of the key players of the global corrosion inhibitors market which includes company profiling of BASF SE, The Dow Chemical Company, Brad-Chem Ltd, LANXESS AG, Cortec Group, SM-Service Ltd., Baker Hughes Company, Lubrizol Corporation, Henkel Company, Ecolab
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