Global Corrosion Inhibitors Market 2017-2021: End-user Segmentation and Forecast by Technavio

Technavio has published a new report on the global corrosion inhibitors market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global corrosion inhibitors market is expected to grow at a CAGR of close to 5% during the forecast period.

This research report titled ‘Global Corrosion Inhibitors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

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The market research analysis categorizes the global corrosion inhibitors market into five end-user segments, of which the top three are discussed in detail below. They are:

  • Power generation
  • Oil and gas
  • Pulp and paper
  • Metal processing
  • Water treatment and others

Global corrosion inhibitors market for power generation segment

The need for power is growing significantly due to rapid industrialization and urbanization, especially in APAC and ROW. The generation, transmission, and distribution of power are dependent on turbines, generators, piping, valves, pumps, and speed changers, which produce electricity. These devices are exposed to moisture and other corrosive environmental agents. Therefore, they must be protected against corrosion to achieve efficient transmission of electricity.

“The increase in the need for power generation will increase the demand for corrosion inhibitors in the power generation segment during the forecast period. For instance, the government of Africa under the National Development Plan intends to supply at least 21,000 MW of electricity from renewable sources to address the need for additional 29,000 MW of electricity by 2030,” says Mohd Shakeel Iqbal, a lead analyst at Technavio for paints, coatings, and pigments research.

Global corrosion inhibitors market for oil and gas segment

The equipment used in the oil and gas industry is made of metal and is usually subjected to corrosive agents. The exposure to these agents results in the alteration of mechanical properties, such as durability, hardness, and elasticity of the metal. This results in significant costs in terms of maintenance and replacement of such equipment. It is estimated that the annual cost incurred by the oil and gas industry globally due to corrosion accounts for USD 1.41 billion every year.

“Effective corrosion management will help to reduce leakage and maintenance costs. It will also be instrumental in preventing environmental pollution. The rising demand for oil and gas is expected to drive the market for corrosion inhibitors,” says Shakeel.

Global corrosion inhibitors market for pulp and paper segment

In recent years, the pulp and paper industry has shifted from open water systems to closed water systems to reduce the consumption of water. The processed water contains Kraft liquor, which is highly acidic and corrodes the metal when the Kraft process flow halts.

North America is a major region in the paper and pulp industry. The paper and pulp industry in Europe is the largest contributor to the corrosion inhibitors market in the region. This industry is expected to post a steady growth in the future due to significant growth in the packaging and printing industries.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • Ashland
  • BASF
  • DuPont
  • Ecolab
  • General Electric

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global corrosion inhibitors market is expected to grow at a CAGR of close to 5% during the period 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com