The Corrosion Inhibitors Market is set to grow from its current market value of more than $6 billion to over $8 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Global Corrosion Inhibitors Market size was projected to expand at more than 5100 kilo tons for 2015 in terms of size and is expected to register higher than 4% CAGR by end of forecast timeline. The industry revenue is projected to surpass $ 8.9 billion by end of forecast timeline.
Global water treatment chemicals industry is projected to register revenue of more than $32 billion by end of forecast timeline. Growing demand for pure and clean water in different industrial segments like medical segment, chemical segment and electronics segment is projected to promote corrosion inhibitors industry trends.
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Global corrosion inhibitors industry is segmented into various applications like oil based application or solvent based application and water based application.
Water based application segment is projected to surpass $6.8 billion revenue by end of forecast timeline. These applications are projected to experience growth and are promoted by rising water treatment requirements and demographic indicators. Rise in energy production, construction sector, refining and mining sector is projected to lead to enhanced demand for the segment.
Global corrosion inhibitors market is segmented into organic and inorganic products. Organic products segment is projected to register a CAGR of 5.2% in terms of size during forecast timeline.
Inorganic products segment was evaluated at more than $1.8 billion for 2015. Superlative features and rising legislations about use of inorganic products are crucial for industry expansion during forecast timeline.
End Use Trends
Global corrosion inhibitors industry is segmented into end use applications like power production, oil & gas, metal processing, pulp & paper and chemical processing.
Power production segment contributed more than $1.9 billion of overall revenue for 2015. It aids in effective operations of electronics, gas turbines, switch gears and pumps. Due to all these factors the segment is predicted to experience a tremendous growth in future.
Oil & gas segment is projected to record CAGR of 5.9% by end of forecast timeline. Growing exploration of oil & gas all across the globe is projected to promote the industry growth.
Pulp & paper segment along with chemical and metal processing segments contributed to significant portion of overall demand for 2015.
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Global corrosion inhibitors market is segmented into key geographical locations like North America, LATAM, Europe, Asia Pacific and Middle East & Africa.
U.S. corrosion inhibitors market share is predicted to grow more than 4.1% during forecast timeline. Metal applications, cement & concrete applications and industrial coatings uses are predicted to be key drivers of the industry growth in the region in future.
European industry demand for corrosion inhibitors is projected to touch 1901 kilo tons by end of forecast timeframe. Development of construction sector, mining sector, production sector and oil & gas industry in Europe is projected to propel regional industry expansion. Further, rising concerns about water pollution as well as waste water treatment can promote inorganic items demand.
Key industry players profiled in the report include The Lubrizol Corporation, Daubert Cromwell LLC, Ashland Incorporation, DuPont, Cortec Corporation, DOW, Eastman, AkzoNobel N.V., Champion Technologies, Ecolab Incorporation, Marott Graphic Services, GE Water & Process Technologies, BASF SE and General Electricals.
Browse key industry insights spread across 95 pages with 78 market data tables & 14 figures & charts from the report, “Corrosion Inhibitors Market” in detail along with the table of contents:
Corrosion inhibitors market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2012 to 2023, for the following segments:
Corrosion inhibitors market by product
Corrosion inhibitors market by application
- Water based
- Oil/solvent based
Corrosion inhibitors market by end-use
- Power Generation
- Oil & Gas
- Pulp & paper
- Metals processing
The above information is provided on a regional basis for the following:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East & Africa (MEA)
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.