The global corrosion inhibitors market size was USD 8.4 Billion in 2022 and is expected to register a revenue CAGR of 5% over the forecast period, according to the latest report by Reports and Data.

Corrosion inhibitors reduce maintenance and downtime by extending the life of machinery and structures and preventing metal corrosion.

Furthermore, the growing demand for environmentally friendly and long-lasting corrosion inhibitors, particularly in developed economies, is driving market revenue growth. Because of rising environmental consciousness and stricter government regulations, end-users are looking for environmentally friendly substitutes for conventional corrosion inhibitors, which could be harmful to both the environment and human health. As a result, manufacturers are investing in the development of corrosion inhibitors that are safe for the environment and have a low carbon footprint.

The market is anticipated to experience growth in revenue during the projected period due to the growing utilization of water-based corrosion inhibitors. These inhibitors, which are more cost-effective and user-friendly compared to their oil-based counterparts, are gaining popularity across various industries. Many end-users prefer water-based corrosion inhibitors because of their reduced environmental impact and lower harm potential.

Corrosion inhibitors play a crucial role in the oil and gas sector, where the demand for crude oil and natural gas is steadily increasing. This rising demand, in turn, escalates the need for corrosion inhibitors. Moreover, the power generation industry, especially thermal power plants, extensively relies on corrosion inhibitors. The threat of corrosion in these facilities can cause substantial damage to structures and equipment. Consequently, corrosion inhibitors are routinely employed in cooling systems, boilers, and condensers to prevent corrosion and ensure efficient equipment operation.

Furthermore, the market is poised for additional growth, driven by the expanding consumption of renewable energy sources like wind and solar power, as well as the increasing demand for electricity.

The Environmental Protection Agency (EPA) has put in place regulations to reduce or eliminate hazardous air pollutants emitted by industrial sources that may contribute to corrosion.

The United States Department of Defense has put in place a set of standards to prevent corrosion in military equipment and weapons systems.

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Some of the prominent players profiled in the global corrosion inhibitors market include BASF SE, AkzoNobel N.V, Ecolab Inc, Solvay S.A, Dow Chemical Company, Lonza Group AG, Cortec Corporation, INEOS Group, Henkel AG Co. KGaA, and Arkema S.A.

Some Key Highlights from the Report

• The organic segment is expected to grow rapidly due to its effectiveness in preventing corrosion in a wide range of industrial applications, including oil and gas, chemical processing, and power generation. Organic corrosion inhibitors contain carbon compounds that react with the metal's surface to form a thin layer of protective film that protects it from corrosive substances. Many businesses prefer organic corrosion inhibitors because they are environmentally friendly and have low toxicity levels.
• The oil and gas segment is expected to undergo significant revenue growth. Corrosion in this industry can pose safety hazards, environmental damage, and financial setbacks. To protect metal surfaces from corrosion caused by acids, gases, and water, corrosion inhibitors are commonly used in the oil and gas business. Furthermore, the increasing prices of crude oil and natural gas are projected to drive the demand for corrosion inhibitors in the oil and gas industry during the forecast period.
• The Asia Pacific region is expected to lead the corrosion inhibitors market throughout the forecast period. Rising industrialization and the rapid growth of end-use sectors such as oil and gas, power generation, and water treatment are driving demand for corrosion inhibitors in the area. Furthermore, rising population and disposable income in countries such as China and India are expected to drive demand for corrosion inhibitors in the construction and automotive industries. The presence of major market players in the area, as well as rising RD expenditure, are expected to fuel market growth.
• In 2021, BASF SE announced the introduction of a new line of corrosion inhibitors known as "BASF Deoxo." These inhibitors are intended to protect against corrosion and microbial growth in aviation fuel systems.
• AkzoNobel N.V. acquired Mapaero, a French company specializing in aerospace coatings, in 2020. The acquisition aimed to broaden AkzoNobel's product offerings in the aerospace market and strengthen its European presence.
• BASF SE: In 2021, BASF introduced a new corrosion inhibitor line called "BASF Synergen SI." These inhibitors are intended to protect equipment and infrastructure from corrosion in the oil and gas industry.
• AkzoNobel N.V.: In 2020, AkzoNobel introduced a new line of corrosion inhibitors known as "Interzinc." These inhibitors are designed to provide long-term corrosion protection for metal surfaces and can be used in protective coatings.

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For the purpose of this report, Reports and Data has segmented the global corrosion inhibitors market on the basis of Product Type Outlook, End-Use Outlook, and Regional Outlook:

Product Type Outlook (Revenue, USD Billion; 2022 - 2032)

• Organic
• Inorganic
• Hybrid

End-Use Outlook (Revenue, USD Billion; 2022 - 2032)

• Oil Gas (OG)
• Power Generation
• Metal Processing
• Chemical Processing
• Others

Regional Outlook (Revenue, USD Billion; 2022-2032)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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