Growing economy, and increasing rate of urbanization and industrialization are the major factor influencing market growth.
The global India Corrosion Inhibitors Market is expected to reach USD 10.09 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the increasing need to effectively reduce the corrosion rate of a metal exposed to any environment.
The industry has benefitted from the growth of construction sectors across the world. The product is mainly used in coating applications on construction materials including nuts, bolts, steel bars steel, and metal parts for protection against corrosion. It helps in the improvement of construction material durability increasing the overall life of the structure. Moreover, the overall construction spending was accounted approximately USD 8.2 trillion in 2016; and is expected to cross USD 16.3 trillion by 2026.
North America, primarily due to U.S., alone generated revenue at over USD 1.51 billion in 2018. The India Corrosion Inhibitors market size in North America is mainly driven by the strong growth in the oil gas industry in the region along with increasing investments in the construction business after the 2008 economic downturn.
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Top Lading Players: Air Products and Chemicals Inc., Akzo Nobel NV , Ashland Inc., Anticorrosion Protective Systems LLC, BASF SE, Champion Technologies Inc., Chemtreat Inc., Cytec Industries Inc., Cortec Corporation, Daubert Cromwell LLC, DOW Chemical, Halox Inc., Henkel AG Co., and Kurita Water Industries Ltd, among others.
Some Key Highlights from the Report:
- The green corrosion inhabitants are expected to witness the highest growth, with a CAGR of 7.0%, by 2026, due to the innovation majorly focuses on the use of eco-friendly and sustainable compounds such as plant extracts, containing many organic compounds.
- The market size for water based inhibitors dominates the globally in 2018, and is expected to have a higher growth, with a CAGR of 4.7%, due to the increasing need for water treatment chemicals due to its lower volatile organic content (VOC) emissions.
- The market size for organic inhibitors dominates globally in 2018, is expected to have a higher growth, with a CAGR of 4.5% during the forecast period, mainly due to its superior characteristics including stability, and wide usage in manufacturing applications.
- Power generation dominates the sector in 2018, growing at a CAGR of 4.3%. Growing government investments for power generation projects to satisfy growing energy needs is expected to drive the demand.
- Asia Pacific dominates the market size in 2018 and shall witness highest gains over the projected timeframe, particularly in India and China, followed by Europe. Increasing growth in the construction sector of the region is the major factor driving the India Corrosion Inhibitors market size over the forecast period.
Segments covered in the report:
Corrosive agent type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Oxygen
- Hydrogen Sulfide
- Carbon Dioxide
Corrosion type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Uniform or general corrosion
- Atmospheric corrosion
- High-temperature corrosion
- Liquid-metal corrosion
- Molten-salt corrosion
- Biological corrosion
- Stray-current corrosion
- Galvanic corrosion
- Localized corrosion
- Crevice corrosion
- Filiform corrosion
- Pitting corrosion
- Intergranular corrosion
- Stress corrosion cracking (SCC)
- Erosion corrosion
Inhibitor type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Passivating Inhibitors
- Volatile Inhibitors
- Cathodic Inhibitors
- Anodic Inhibitors
- Mixed Inhibitors
- Synergistic Inhibitors
- Precipitation Inhibitors
- Green India Corrosion Inhibitors
- Adsorption Action Inhibitors
- Chemisorption
- Physical Adsorption
Types Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Water-Based
- Oil-Based/Solvent
Product type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Organic
- Benzotriazole
- Tolyltriazole
- Mercaptobenzothiazole
- Amines
- Phosphonates
- Inorganic
- Nitrites nitrates
- Chromates, DI chromates borates
- Molybdates
- Zinc sulfate other salts
- Silicates
- Polyphosphates
- Applications Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Power Generation
- Oil Gas Refinery
- Pulp Paper
- Metal Mining
- Chemical Processing
- Desalination Plant
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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