Global Corrosion Inhibitors Market is Expected to Reach USD 7.14 Billion in 2019: Transparency Market Research
ALBANY, New York, September 3, 2013 /PRNewswire/ –
According to a new report published by Transparency Market Research, “Corrosion
Inhibitors (Organic and Inorganic) for Water Based and Oil/Solvent Based Applications in
Power Generation, Metal Processing, Pulp and Paper, Oil and Gas and Chemical Processing -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the
global corrosion inhibitors demand was valued at USD 5.20 billion in 2012 and is expected
to reach USD 7.14 billion in 2019, growing at a CAGR of 4.7% from 2013 to 2019. In terms
of volume, global consumption was 4,425.9 kilo tons in 2012 and is expected grow at a CAGR
of 4.4% from 2013 to 2019.
Browse the full Report with TOC at
Corrosion inhibitors play a critical role in the water treatment chemicals market.
Growth of the water treatment chemicals market on account of increasing demand for clean
water is expected to be one of the primary factors driving the demand for corrosion
inhibitors. In addition, rising construction activities within the forecast period and
increasing awareness of the adverse impact of corrosion is expected to boost the demand
for corrosion inhibitors. However, various environmental issues associated with the raw
materials used in corrosion inhibitors are expected to hamper the growth of the market.
Development of green inhibitors and application of nanotechnology in corrosion inhibitors
is expected to open opportunities for the growth of the market over the next few years.
Organic corrosion inhibitors were the largest product segment of the market and are
also expected to be the fastest growing segment due to the increasing preference of
consumers for non-toxic inhibitors, at an estimated CAGR of over 4.5% from 2013 to 2019.
Increasing demand for organic corrosion inhibitors is expected to hamper the demand for
Water-based corrosion inhibitors were the largest application segment of the corrosion
inhibitors market, accounting for over 75% of the market in 2012. Demand for
oil/solvent-based inhibitors is expected to reach 1,332.1 kilo tons by 2019.
The power generation sector dominated the demand for corrosion inhibitors and
accounted for over 25% of the demand in 2012, followed by the oil & gas sector. Oil & gas
is also expected to be the fastest growing end-use industry for this market on account of
the rising demand from various industries and as a fuel. Corrosion inhibitor demand from
metal processing is expected to reach 683.7 kilo tons by 2019. Chemicals processing is
expected to show noticeable growth from a small base within the forecast period.
Asia Pacific led the demand for corrosion inhibitors and accounted for over 35% of the
total share in 2012. Increasing industrial activities and rising awareness regarding
losses occurring due to corrosion is expected to drive the demand for corrosion inhibitors
over the forecast period. Asia Pacific is expected to show fastest growth in market over
the next few years.
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The report gives a comprehensive view of the corrosion inhibitors market in terms of
volume and revenue. In addition, the report includes current demand analysis and forecast
for each application in North America, Europe, Asia Pacific and Rest of the World. The
report comprises of the following segments:
Corrosion Inhibitors Market: Product Segment Analysis,
- Organic - Inorganic
Corrosion Inhibitors Market: Application Analysis,
- Water based - Oil/solvent based
Corrosion Inhibitors Market: End-use Analysis,
- Power generation - Oil & gas - Pulp & paper - Metals processing - Chemicals processing - Others
The report provides a cross-sectional analysis of the above product segment,
applications and end-use segments with respect to the following regions:
- North America - Europe - Asia Pacific - Rest of the World
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