Corrosion Inhibitors Market Analysis, Trends and Future Outlook, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2016 To 2024

A corrosion inhibitor is a composition of various chemical compounds.When applied on a metal surface, it reduces the rate of corrosion. The quality of a corrosion inhibitor depends on flow regime, the quantity of water, and fluid composition. Corrosion of metal surfaces is a major problem faced by the industry and corrosion inhibitors provide a better solution to not only protect the machinery but also increase the life of the machines. Corrosion inhibitors protect the surface by forming a protective coat over the metal surface and the surrounding areas.

Increasing emphasis on the usage of renewable sources ofenergy like wind, solar, and hydro is the major driver affecting thecorrosion inhibitors market growth. Corrosion inhibitors are used extensively in the construction, industrial, processing plants, and miningapplications. They also find their applications in engine oil, antiseptics, paints, coolants, fuels, hydraulic fluids, oil refineries, and other day to day processes. The construction industry is responsible for the maximum consumption of corrosion inhibitors followed by oil & gas and manufacturing. Governments in various countries have been implementing strict regulations concerning water pollution, which can have a positive impact on market growth.

Organic inhibitors such as benzotriazole, tolyltriazole, phosphonates, mercaptobenzothiazole, and organic amines have dominated the market. These chemicals are predominantly used in the manufacturing industry as their usage prevents side reactions. The regulatory pressure in western countries has resulted in increased attention on nontoxic products, which is a major driver for this segment.

Water-based applications have been using corrosion inhibitors for major applications. Water-based inhibitors have gained preference over solvent-based inhibitors because of low VOC emissions associated with the latter. Corrosion inhibitors used in solvent/oil based application is expected to be growing on account of their dependable performance and ability to provide thick coats on surfaces over long periods. However,the limited application scope to operate in closed systems, high flammability, and occupational safety hazards are the major hindrances to the growth of this market.

AsiaPacific is the major market for corrosion inhibitors. The corrosion inhibitors market growth can be attributed to the growth of developing economies like India and China. The growth of automobile industry in this region combined with product innovation in corrosion inhibitors is responsible for the growth of the market in this region. The governments of India and China have also formulated favorable foreign policies responsible for the market growth of these chemicals. The increasing expenditure on infrastructure in South Africa and Brazil is driving the corrosion inhibitors market growth in these regions. The growing industrial growth and infrastructure development in the Middle East owing to increased governmental expenditure is expected to increase market demand. The REACH and U.S.EPA Regulations in Europe have banned the usage of hazardous chemicals andarea major restraint for the growth of this market in this region.

The corrosion inhibitor industry is highly disintegrated characterized by merger and takeover activities. The major manufacturers in this market are Solutia Inc., ECOLAB, BASF SE, AkzoNobel N.V., Cytec Industries Inc., Champion Technologies Inc., Merck KGaA, Henkel AG & Company, Marott Graphic Services, W.R. Grace & CO., Ashland Inc., Cortec Corporation, Dai-Ichi Karkaria Ltd., The Lubrizol Corporation, Dow Chemical Company, GE Water & Process Technologies, and Daubert Cromwell LLC.

Ecolab specializes in providing solutions for mining & mineral processing. Their application areas are alumina, phosphate & potash industries, and industrial minerals. Ecolab acquired Nalco to mark its entryinto the renewable energy sources coating purposes. The corrosion inhibitors manufactured by BASF are sold under the name Amine-O, Irgacor L, Irgalube, and Sarkosyl. BR 127 is an epoxy primer developed by Cytec Industries andacts as acorrosion inhibitor. The corrosion inhibitors developed by GE Water & Process Technologies are Predator, LoSalt, and pHilmPLUS.

The AkzoNobel corrosion inhibitors have been developed to suit high & low temperatures and sweet & sour environments. They have also developed green solutions to prevent corrosion. The Dow Chemical Company has developed products in line with various metal surfaces. Their product range consists of HTFIron inhibitor, HTFCopper inhibitor, HTFpH booster, and DowFrost iron inhibitor. The corrosion inhibitors developed by Ashland, Inc., are sold under the brand name Techwax and Propargyl Alcohol. W.R. Grace & CO. manufactures corrosion inhibitors under the trademarks Daravair and Darex. The corrosion inhibitors manufactured by Lubrizol Corporation are Lubrizol 2064, Lubrizol 2120, and Lubrizol 219. Marott Graphic Services have developed corrosion inhibitors under the brand name Tinsco and XCP.

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Report Statistics

  1. Published: September, 2016
  2. Format: Electronic (PDF)
  3. Number of pages: 96
  4. Base year for estimation: 2015
  5. Industry: Disinfectants & Preservatives

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