Corrosion Inhibitors Market Analysis
A corrosion inhibitor is a chemical compound when added to a liquid gas, decreases the corrosion rate of a material, that comes into contact with any liquid. The effectiveness of a corrosion inhibitor depends upon fluid composition, quantity of water and flow regime. A corrosion inhibitor works by creating barrier over the coated surface and preventing it from moisture, which is the main cause of erosion. The mechanism of organic products includes interfacial activity, barrier activity and absorption activity. Corrosion inhibitor maybe added to water to stop leaching of lead or copper from pipes.
COVID-19 Impact analysis
- Due to this ongoing pandemic the chemical industry has been severely affected throughout the world.as there were nation wide lockdowns in majority of the countries due to which industries were shut so was the transportation as there was restriction on movement and therefore demand for corrosion inhibitors went down.
- Man power shortage, logistical restrictions, material unavailability and other restrictions have slowed the growth of corrosion industry in a considerable manner.
- the corrosion inhibitors market has been affected and its demand is less prevalent in industries like oil and gas, pharmaceutical, etc.
Top Impacting Factors
Growth in market can be attributed to the development of biobased and more eco-friendly corrosion inhibitors. As a general shift towards the development of eco friendly corrosion is that as governments have made new rules and regulations for chemical industry in order to protect environment from any mishaps so ecofriendly inhibitors may possibly lead the market towards sustainable development and increase in acceptance of corrosion inhibitors among sustainable end users. Corrosion inhibitors are used in water treatment, process and product activities and oil and gas production in various end user industries including power generation, oil and gas refineries, metal and mining, pharmaceutical utilities among others. They are used for slowing or controlling the process of corrosion in different parts of the corrosion inhibitors industry.
- Inorganic product mechanism includes anodic passivation, cathodic passivation, anion exchange and saponification of corrosion inhibitors.
- R&D has played a significant role in development of new technologies of corrosion mitigation by the application of corrosion inhibitors, example: ecofriendly inhibitors
- Though the corrosion cost is increasing, regulations by the U.S. government concerning the toxicity of corrosion have impacted the market.
- There are several water systems that use phosphate infused products in the country, which have restrictions to their application.
- In recent years, there has been significant development of bio-based corrosion inhibitors.
- Bio-corrosion inhibitors are comparatively low in cost, have less toxicity, and are readily available organic compounds which indirectly causes less pollutions and comparatively fewer toxic gases are realized which helps the environment
- For example, Delonix regia and rosemary leaves prevents the deterioration of aluminum metal while organic honey causes corrosion of copper.
- Water based corrosion inhibitors are readily soluble in water and usually sold in solid form, which forms a protective layer on the metal surface by altering the physical properties of the surface to resist oxidation of metallic surface.
- Oil based inhibitors are mainly preferred for long term protection by builders in constructions and severe environmental conditions because of their massive film formation and significant hydrophobic properties.
- Shale gas exploration, the development of power generating plants, growth in construction and water treatment process will provide significant opportunities within the market for corrosion inhibitors.
Key Benefits of the Report
- This study presents the analytical depiction of the Corrosion Inhibitors market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of Corrosion Inhibitors market share.
- The current market is quantitatively analyzed to highlight the Corrosion Inhibitors market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Corrosion Inhibitors market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Corrosion Inhibitors market Report
- Who are the leading market players active in the Corrosion Inhibitors market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Corrosion Inhibitors Market Report Highlights
By Product Outlook
By Industry Vertical
Key Market Players
Dow, Henkel Ibérica, S.A., BASF SE, Baker Hughes, a GE company, DuPont de Nemours Incorporation, Nouryon, Cortec Corporation, Ecolab, Ashland, The Lubrizol Company