Corrosion Inhibitors Market by Compound, Type, Application, End-Use and Region - Global Forecast to 2023

Corrosion Inhibitors Market by Compound, Type, Application, End-Use and Region - Global Forecast to 2023

The Corrosion Inhibitors Market report add detailed competitive landscape of the global market. It includes company, market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the Global Corrosion Inhibitors industry based on product segment, technology, end user segment and region.

As power generation products like pumps, gears, and gas turbines are operated in harsh climatic conditions, corrosion inhibitors are increasingly being used for coating purposes. This trend would significantly boost product penetration in the power generation sector. As per 2015 reports, the global corrosion inhibitors market recorded around USD 1.5 billion in revenue from the power generation sector.

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With wide-spread applications across numerous sectors, Global Market Insights, Inc., predicts that the corrosion inhibitors market is anticipated to exceed USD 8 billion by 2023.

The corrosion inhibitors market is poised for robust growth in the wake of burgeoning construction activities commenced worldwide. Corrosion of construction materials like steel can significantly affect the service life of concrete structures. The use of corrosion inhibitors is one of the most appropriate methods to safeguard construction materials like steel, bolts, steel bars, metal parts, and nuts from corrosion.

The products play a pivotal role in enhancing construction material durability which further increases the overall life of structures. With the global construction sector expected to exceed USD 13 trillion by 2023, the corrosion inhibitors market is anticipated to record substantial proceeds over the estimated period.

Apart from the construction sector, corrosion inhibitors are extensively used across mining, power generation, and water treatment industries as well. Corrosion inhibitors based coatings are widely used in industries due to their overall long term performance.

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Meanwhile, Asia Pacific, led by India and China, is expected to offer lucrative growth opportunities to the corrosion inhibitors market. Exceptional growth in the construction sector is the key factor accelerating corrosion inhibitors market size in APAC.

Growing number of acquisitions and mergers between industry participants may propel global corrosion market forecast. Currently, Dow, DuPont, BASF, Daubert, Dai-Ichi, Henkel, Ecolab, Champion Technologies, AkzoNobel, Eastman, Lubrizol, Cytec, Cortec, and Halox are the key industry players operating in this lucrative industry.

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