Corrosion inhibitors market trends are driven by demand for pure and clean water in various industries

Global Corrosion Inhibitors Market 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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Expansion of green corrosion inhibitors industry can witness a breakthrough in product techniques and demand. Increased use of corrosion inhibitors has led to correct steps being taken for its disposal. Inappropriate disposal adversely impacts the climate which can lead to instability in global corrosion inhibitors market price trends.

Global corrosion inhibitors market 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.

Solvent based application segment is projected to record CAGR of 4.3% by end of forecast timeline. These kind of applications make a protective barrier coating on surface of metal to avoid contact of water and thus prevents corrosion. Consistent performance of oil or solvent based application segment is a main aspect of segment growth.

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With a plethora of uses across the oil & gas, chemicals, power generation, metal processing, and pulp & paper sectors, Corrosion Inhibitors Market is no doubt, anticipated to depict a positive growth trend over the forthcoming years. Estimates state that oil and gas account for more than 55% of the energy demand worldwide. However, corrosion accounts for a large portion of the operational and maintenance costs of the oil & gas sector. On that note, it is apparent to declare that anti-corrosive products find extensive applications in the oil & gas sector, which will indirectly propel corrosion inhibitors industry. The construction sector has also been gaining global momentum – as per research, global construction market will cross a valuation of USD 13 trillion by 2023, a factor which will be responsible for the growth of corrosion inhibitors market, subject to the product usage while manufacturing components such as metal attachments, nuts, bolts, and steel bars.

Key industry players profiled in the corrosion inhibitors industry 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.

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.

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