Corrosion Inhibitors Market By Type (Water-Based, Oil-Based, Volatile), By Compound (Organic {Benzotriazole, Amines, Phosphonates} Inorganic {Nitrites & Nitrates, Chromates, Di Chromates & Borates, Zinc Sulfate & Other Salts, Silicates}), By Application (Water Treatment, Process & Product Additives, Oil & Gas Production), By End-Use Industry (Oil & Gas, Power Generation, Chemicals, Metals Processing, Pulp & Paper), and by Region; Global Insights & Forecast (2024–2030)

As per Intent Market Research, the Corrosion Inhibitors Market was valued at USD 7.9 billion in 2023 and will surpass USD 11.2 billion by 2030; growing at a CAGR of 5.2% during 2024 - 2030.

The global Corrosion Inhibitors Market is experiencing substantial growth, driven by rising industrialization, increasing infrastructural investments, and stringent regulations on material longevity. Corrosion inhibitors play a vital role in extending the lifespan of equipment and infrastructure by preventing corrosion, which is a common challenge in sectors such as oil & gas, water treatment, and power generation. These inhibitors come in various formulations, including water-based and oil-based types, and are used across multiple industrial applications to reduce maintenance costs and enhance operational safety. With a surge in demand for high-performance and eco-friendly inhibitors, the market is expected to continue expanding, especially as industries adopt preventative maintenance practices.

Water-Based Segment is Fastest Owing to Environmental Regulations

The Water-Based segment of the corrosion inhibitors market is witnessing the fastest growth, spurred by increasing environmental regulations and the demand for sustainable solutions. Water-based inhibitors are preferred due to their lower toxicity and biodegradability, making them ideal for industries aiming to reduce environmental impact. These inhibitors work effectively in water systems by forming a protective barrier on metal surfaces to prevent corrosion, especially in cooling and boiler systems where water is a primary medium.

The growth of water-based inhibitors is further fueled by the shift in consumer preference toward eco-friendly products, supported by regulatory bodies imposing strict guidelines to minimize pollution from industrial processes. This trend is particularly noticeable in regions like North America and Europe, where environmental standards are strict, driving the adoption of water-based corrosion inhibitors as a viable and effective alternative to oil-based formulations.

Corrosion Inhibitors Market By Type

Organic Segment is Largest Owing to Versatile Applications

The Organic Compound segment dominates the corrosion inhibitors market due to its versatile applications and superior performance in high-temperature environments. Organic inhibitors like benzotriazole, amines, and phosphonates are widely used because of their effectiveness in reducing the corrosion rate in various metals. They operate by adsorbing onto metal surfaces, creating a protective film that blocks corrosive agents, making them especially suitable for industries where high-performance and reliability are crucial.

Within organic compounds, benzotriazole is widely utilized, particularly in industries that require copper protection, such as electronics and water systems. Its non-toxic nature and efficient corrosion prevention abilities have boosted its adoption, especially in the electronics and automotive sectors. This growing preference for organic compounds is also driven by increased awareness of sustainable industrial practices and demand for inhibitors with reduced health risks compared to inorganic options.

Oil & Gas Production Segment is Fastest Owing to Harsh Operating Conditions

The Oil & Gas Production application segment is the fastest-growing area within the corrosion inhibitors market. The oil and gas industry operates under harsh and corrosive environments, making corrosion inhibitors essential for maintaining the integrity of pipelines, tanks, and drilling equipment. Corrosion can lead to costly repairs, environmental hazards, and safety risks, prompting companies in this sector to invest in high-performance inhibitors.

Corrosion inhibitors in the oil and gas industry are essential for both upstream and downstream processes, particularly in offshore operations where equipment faces extreme conditions. The continuous exploration activities and expansion of offshore oil fields are accelerating the demand for corrosion inhibitors designed to endure high-pressure and high-temperature environments, which significantly contributes to the market’s growth.

Power Generation Segment is Largest Owing to High Equipment Protection Needs

The Power Generation industry is one of the largest consumers of corrosion inhibitors, driven by the necessity to protect extensive and expensive equipment from corrosion. Power plants utilize large volumes of water in their operations, which can lead to corrosion in boilers, cooling towers, and other critical equipment. Corrosion inhibitors in this sector are crucial to maintaining efficiency and prolonging equipment life, reducing operational costs for power producers.

The demand for corrosion inhibitors in power generation is particularly strong in regions with aging infrastructure, as companies are investing in corrosion prevention to extend the operational lifespan of their assets. Additionally, with the rise in renewable energy plants, such as geothermal and biomass, corrosion inhibitors are becoming integral to sustainable power generation, supporting the market’s steady growth.

North America is the Largest Market Owing to High Industrial Demand

North America leads the global corrosion inhibitors market, primarily due to its high level of industrialization and stringent environmental regulations. The region's strong presence in industries such as oil & gas, power generation, and manufacturing has resulted in consistent demand for corrosion inhibitors to prevent material degradation. Moreover, North America’s regulatory bodies, such as the Environmental Protection Agency (EPA), have established guidelines to minimize pollution, encouraging industries to adopt eco-friendly and high-performance corrosion inhibitors.

The market in North America also benefits from the continuous advancements in inhibitor technology, supported by significant R&D investment from both government and private sectors. This focus on innovation has enabled companies to develop inhibitors that comply with environmental standards without compromising performance, which is essential for sectors like automotive and infrastructure.

Corrosion Inhibitors Market size by region

Leading Companies and Competitive Landscape

The corrosion inhibitors market is competitive, with prominent players such as BASF, Dow Chemical, and Ashland leading through innovation and strategic partnerships. These companies are investing heavily in research and development to create inhibitors that align with environmental regulations while providing long-lasting protection in various industrial applications. Furthermore, these leaders are expanding their portfolios to include more water-based and organic inhibitors to meet the rising demand for eco-friendly solutions.

The competitive landscape is also seeing new entrants and specialized manufacturers who focus on niche segments like green inhibitors and high-temperature solutions. This expansion of product lines and focus on sustainability is intensifying competition, leading to more advanced and cost-effective corrosion control solutions across the market.

Recent Developments:

  • BASF introduced a new line of eco-friendly corrosion inhibitors designed for use in various industrial applications. These products focus on reducing environmental impact while providing effective protection against corrosion.
  • Ecolab has finalized the acquisition of Solenis, a move aimed at enhancing its portfolio of water treatment and specialty chemicals, including corrosion inhibitors. This strategic acquisition is expected to strengthen Ecolab's position in the market and expand its service offerings.
  • Baker Hughes announced the development of a new advanced corrosion inhibitor specifically tailored for the oil and gas industry. This product is designed to enhance asset integrity and extend equipment lifespan in harsh operating environments.
  • Lonza has unveiled plans to expand its production capacity for corrosion inhibitors at its facility in Switzerland. This expansion is part of Lonza's commitment to meet growing global demand for high-performance corrosion protection solutions.
  • The Lubrizol Corporation launched a next-generation corrosion inhibitor that offers superior performance in automotive applications. This product is designed to provide enhanced protection against rust and corrosion while being compatible with various lubricants and fluids.

List of Leading Companies:

  • BASF
  • Ecolab
  • Solenis
  • Baker Hughes
  • Lonza
  • Dow
  • Nouryon
  • Henkel
  • The Lubrizol Corporation

Report Scope:

Report Features

Description

Market Size (2023)

USD 7.9 billion

Forecasted Value (2030)

USD 11.2 billion

CAGR (2024 – 2030)

5.2%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Corrosion Inhibitors Market by Type (Water-Based, Oil-Based, Volatile), by Compound (Organic {Benzotriazole, Amines, Phosphonates} Inorganic {Nitrites & Nitrates, Chromates, Di Chromates & Borates, Zinc Sulfate & Other Salts, Silicates}), by Application (Water Treatment, Process & Product Additives, Oil & Gas Production), by End-Use Industry (Oil & Gas, Power Generation, Chemicals, Metals Processing, Pulp & Paper)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3.Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Corrosion Inhibitors Market, by Type (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Water-Based

   4.2. Oil-Based

   4.3. Volatile

5. Corrosion Inhibitors Market, by Compound (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Organic

      5.1.1. Benzotriazole

      5.1.2. Amines

      5.1.3. Phosphonates

      5.1.4. Others

   5.2. Inorganic

      5.2.1. Nitrites & Nitrates

      5.2.2. Chromates, Di-Chromates & Borates

      5.2.3. Zinc Sulphate & Other Salts

      5.2.4. Silicates

      5.2.5. Others

6. Corrosion Inhibitors Market, by Application (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Water Treatment

   6.2. Process & Product Additives

   6.3. Oil & Gas Production

7. Corrosion Inhibitors Market, by End-Use Industry (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Oil & Gas

   7.2. Power Generation

   7.3. Chemicals

   7.4. Metals Processing

   7.5. Pulp & Paper

   7.6. Others

8. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America Corrosion Inhibitors Market, by Type

      8.2.7. North America Corrosion Inhibitors Market, by Compound  

      8.2.8. North America Corrosion Inhibitors Market, by Application

      8.2.9. By Country

         8.2.9.1. US

               8.2.9.1.1. US Corrosion Inhibitors Market, by Type

               8.2.9.1.2. US Corrosion Inhibitors Market, by Compound

               8.2.9.1.3. US Corrosion Inhibitors Market, by Application

         8.2.9.2. Canada

         8.2.9.3. Mexico

*Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. BASF

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

*Similar information will be provided for other companies 

   10.2. Ecolab

   10.3. Solenis

   10.4. Baker Hughes

   10.5. Lonza

   10.6. Dow

   10.7. Nouryon

   10.8. Henkel

   10.9. The Lubrizol Corporation

11. Appendix

 

A comprehensive market research approach was employed to gather and analyze data on the Corrosion Inhibitors Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Corrosion Inhibitors Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach - Corrosion Inhibitors Market

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the Corrosion Inhibitors ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Corrosion Inhibitors Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - Corrosion Inhibitors Market

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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