(MENAFN- Ameliorate Digital Consultancy) The global market for Corrosion Inhibitors estimated at USD 7.5 billion in 2022, is projected to reach a revised size of USD 11.33 billion by 2029, registering a compounded annual growth rate (CAGR) of 4.7% over the period.
The Latest Report Research Exactitude Consultancy published a report titled Corrosion Inhibitors Market which offers a detailed description of the market trends, growth drivers, opportunities, and the challenges associated with the growth of the market in the forthcoming years. The report gives an actionable market insight to the clients/vendors with which sustainable and profitable business strategies can be created. This Report Corrosion Inhibitors Market by researchers gives an insight into the trending modern situation and the future growth of the industry for the length of 2022-2029. This analysis can help you expand your business by targeting qualified niche markets.
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Competitive Assessment:
The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Corrosion Inhibitors market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.
Recent developments
Jan 2022 – Emerald Performance Materials has put four chemical factories in Henry, Illinois, up for sale. Previously, the processing and manufacturing units were used to produce antioxidants, accelerators, and specialty chemicals utilized in tyre manufacture and other rubber and elastomer industry applications. Oct 2021 – Azelis has established a new distribution deal with Hexigone, a smart corrosion inhibitor producer in the United Kingdom. Azelis will sell Hexigone corrosion inhibitors throughout Europe, Turkey, Ukraine, and the Baltics.
Leading market players in the Corrosion Inhibitors market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Corrosion Inhibitors market is BASF, Ecolab, GE, and Ashland accounting for less than half of the entire market share. DuPont, Dow, AkzoNobel, Champion Technologies, Daubert, Lubrizol, Eastman, Cytec, Dai-Ichi, Henkel, Halox, and Cortec and others.
Corrosion Inhibitors Market Segmentation:
Corrosion Inhibitors Market By Product, 2023-2029, (USD Million)
Corrosion Inhibitors Market By Application, 2023-2029, (USD Million)
Water Based Oil/Solvent Based
Corrosion Inhibitors Market By End Use, 2023-2029, (USD Million)
Power Generation
Oil & Gas Pulp & Paper Metals Processing Chemicals
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Prominent Corrosion Inhibitors Market Drivers
Increasing Industrialization in Developing Economies to encourage corrosion inhibitors Adoption Infrastructural development in economies such as China, India, Brazil, and South Korea, are expected to undergo infrastructural development and boost industrial activities for the growth of their economies. Infrastructural growth related to electricity demand, clean water demand, fuel demand, transportation demand, and construction demand are expected to boost the market for corrosion inhibitors in the forthcoming years.
Increasing Demand for Treated Water in various End-Use Segments Freshwater resources account for only 2.5% of the total water resources globally, which makes the supply of water for industrial and domestic consumption a tough challenge. The widening gap between the demand and supply of water makes it necessary to efficiently recycle it, which can be undertaken by treating it.
Key Challenges and Restraints Affecting the Corrosion Inhibitors Market Growth
Need for eco-friendly Formulations to restrain Corrosion Inhibitors Uptake Stringent environmental legislation are the primary factors inhibiting the growth of the corrosion inhibitor market. The growing concern of chemicals having an impact on the environment and health has led to stringent regulatory constraints for corrosion inhibitors manufacturers.
Use of Corrosion-Resistant Materials likely to Diminish Prospects Industries in the developed market are showcasing a high degree of maturity. The replacement of steel with plastics, ceramics, composite materials, and corrosion-resistant alloys in these industries is an example of this. The metals and alloys which are capable of resisting corrosion to some degrees are known as Corrosion-Resistant Alloy (CRA). The corrosion inhibitors market is slowly moving toward more sustainable options due to the increasing environmental concerns and regulatory pressures .
Regional Framework
The Corrosion Inhibitors Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the years 2022-2029 with respect to five major regions. The market by each region is later sub-segmented by respective countries and segments. The Corrosion Inhibitors market report covers the analysis and forecast globally along with the current trend and opportunities prevailing in the region.
⇨ North America (United States, Canada, and Mexico)
⇨ Europe (Germany, France, UK, Russia, and Italy)
⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
⇨ South America (Brazil, Argentina, Colombia, etc.)
⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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The Study Objectives are:
✔ An in-depth look at the key players in the Corrosion Inhibitors market, as well as the data that goes with them.
✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.
✔ Regional analysis, which includes information on the dominant Corrosion Inhibitors market and its share of the market.
✔ It also includes various socioeconomic factors that influence the market's evolution in the region.
✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.
Key questions answered in the report:
✦ What is the Corrosion Inhibitors market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Corrosion Inhibitors Market in the coming years?
✦ What are the most significant challenges that the global Corrosion Inhibitors Markets may face in the future?
✦ What are the top companies in the global Corrosion Inhibitors market?
✦ What are the main trends that are positively impacting the market's growth?
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