The corrosion inhibitors industry involves the production, development, and distribution of substances or compounds that are used to prevent or reduce corrosion. Corrosion inhibitors are chemicals that are added to various systems or materials to protect them from the damaging effects of corrosion, which is the process of deterioration or decay of a material caused by chemical reactions with its environment. The global corrosion inhibitors market size is projected to reach USD 10.1 billion by 2026 at a CAGR of 4.9% from 2021. The increasing demand for corrosion protection chemicals in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the market for corrosion inhibitors.

Browse 190 market data Tables and 50 Figures spread through 260 Pages and in-depth TOC on “Corrosion Inhibitors Market by Compound(Organic, Inorganic), Type(Water Based, Oil Based and VCI), Application, End-Use (Power Generation, Oil & Gas, Metal & Mining, Pulp & Paper, Utilities, Chemical), and Region – Global Forecast to 2026”

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Corrosion inhibitors can be used in a wide range of industries and applications, including:

1. Oil and Gas: Corrosion inhibitors are extensively used in the oil and gas industry to protect pipelines, storage tanks, drilling equipment, and refining processes from corrosion caused by exposure to water, gases, or corrosive chemicals.
2. Water Treatment: Corrosion inhibitors are employed in water treatment systems, such as cooling towers, boilers, and water distribution systems, to prevent the corrosion of metal components and infrastructure.
3. Power Generation: Power plants, including thermal power plants and nuclear power plants, utilize corrosion inhibitors to protect equipment and infrastructure from the corrosive effects of steam, water, and chemicals.
4. Chemical Processing: The chemical industry employs corrosion inhibitors to safeguard equipment, vessels, and piping systems from corrosive substances used in various chemical processes.
5. Metal Processing: Corrosion inhibitors are utilized in metalworking industries, such as steel manufacturing, to protect metal surfaces during fabrication, storage, and transportation.
6. Automotive and Aerospace: Corrosion inhibitors are applied in the automotive and aerospace industries to protect metal parts, such as engines, aircraft components, and structures, from corrosion caused by exposure to moisture, salt, and other environmental factors.
7. Construction: Corrosion inhibitors find applications in construction materials, such as concrete and steel structures, to enhance their durability and resistance to corrosion in harsh environments.

Corrosion Inhibitors Market Key Players

Major players operating in the global corrosion inhibitor market include Solenis (US), Nouryon (The Netherlands), Baker Hughes Company (US), Ecolab (US), BASF SE (Germany), SUEZ Water Technologies & Solutions (France), DOW Chemical Company (US), Lubrizol Corporation (US), Lanxess (Germany), and Henkel Corporation (Germany).

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Solenis, formerly known as Ashland Water Technologies, is one of the leading global producers of specialty chemicals for water-intensive industries, including pulp & paper, oil & gas, petroleum refining, chemical processing, mining, biorefining, power, and municipal. The company’s product portfolio includes a broad array of process, functional, and water treatment chemistries, corrosion inhibitors as well as state-of-the-art monitoring and control systems. The company serves its products to various end-use industries, such as biorefining, chemical processing, industrial water, mining & mineral processing, municipal, oil & gas, packaging paper & board, and power generation.

Volatile Corrosion Inhibitor is projected to be the fastest-growing market, based on type.

Volatile Corrosion Inhibitors (VCI), will register the highest CAGR for the type segment of corrosion inhibitor market, during the forecast period. VCIs work by changing the pH of the outside atmosphere to less acidic conditions to regulate corrosion. Examples include morpholine and hydrazine, which are used to control the corrosion of the condenser pipes in boilers. Key industrial applications are polymer films, paper, foam, powder and oil, and grease industrial applications.

Water Treatment application will account for the major share of the corrosion inhibitor market, based on application in terms of value.

Water treatment accounted for 44.4% of the total corrosion inhibitor market in terms of application, in 2020. Corrosion can cause many concerns such as rusting of pipelines, equipment surfaces, and lowered efficiency of the equipment mainly in the industrial sector.  Feed water use in various industries contains carbon dioxide which is corrosive to steel. If this carbon dioxide is left untreated, iron deposits on the boilers. These corrosion inhibitors are fed downstream of the deaerating equipment. It is volatilized and carried out with the steam after reacting with carbon dioxide.  Corrosion inhibitors for boiler treatment include neutralizing and filming amines for condensate linings. Morpholine, cyclohexylamine, diethylethanolamine (DEAE), aminomethyl propanol, and aqua ammonia octadecylamine (ODA) are some of the common corrosion inhibitors used to protect boiler systems from corrosion.

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The Middle East & Africa region is the second fastest-growing region for the corrosion inhibitor market, in terms of value.

The region has emerging markets, such as Saudi Arabia, the UAE, Iran, Kuwait, and South Africa. The region has established oil & gas and chemical & petrochemical industries due to the abundant availability of natural resources. The oil & gas industry in the region is growing at a steady pace due to rising exports and increased exploration of reserves. Huge investments, rising population, growing disposable income, and integration of production activities are likely to increase output in the form of fuel and feedstock and, in turn, drive the corrosion inhibitors market.