The research study covers the present scenario and growth prospects of the global corrosion and scale inhibitor market for 2017-2021. The market is segmented based on product type (corrosion inhibitors and scale inhibitors) and geography (APAC, Europe, North America, and ROW).
The global corrosion and scale inhibitors market is expected to grow rapidly owing to the increased industrialization in various developed and developing countries like Brazil, China, and India in the recent years. Government regulations constitute another important factor that is driving the market. Due to the adverse effect of pollutants and the limited availability of water resources, government authorities across the globe are focusing on imposing regulations on the purity standard of potable water, which will accelerate the market's growth during the forecast period.
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Technavio chemicals and materials research analysts highlight the following three factors that are contributing to the growth of the global corrosion and scale inhibitor market:
- Rising demand for cost-effective chemicals
- Consistency, efficiency, and effectiveness of corrosion and scale inhibitors
- Strict government regulations
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Rising demand for cost-effective chemicals
The rising demand for cost-effective chemicals is one of the most important driving factors for the global corrosion and scale inhibitors market. Due to the increasing need for chemicals, both in the municipal and industrial sectors, the demand for chemicals that offer a competitive price-performance ratio is high.
Ajay Adhikari, a lead specialty chemicals research analyst at Technavio, says, “Water treatment plants and various industries that use corrosion and scale inhibitors to protect materials from scale and corrosion and treat waste water are choosing chemicals that are easily available in a short period and are cost effective. Hence, chemicals that validate the price-performance standards by offering value-added features are expected to experience an improved growth. This will generate a more profitable treatment process.”
Consistency, efficiency, and effectiveness of corrosion and scale inhibitors
Corrosion and scale inhibitors have been in use for decades in the industrial process systems. This is due to the large volumes of water that are used within process systems. The use of these chemicals in various applications helps in the prevention of corrosion and scale formation. Also, the ease of handling these chemicals ensures a streamlined operation and improved productivity.
“The use of corrosion and scale inhibitors also requires minimized monitoring and maintenance. The cost-effective nature and performance of these chemicals place them on par with the best available technology in the market. The use of corrosion and scale inhibitors becomes a cheaper option as they do not require much of additional investment in the equipment or infrastructure. Considering all these advantages offered by corrosion and scale inhibitors, apart from being reliable, efficient, and effective, other available solutions will take time to compete on similar terms,” adds Ajay.
Strict government regulations
Various countries are upgrading their environmental regulations to global standards, because of which there are increasing mandates on water conservation and recycling. Government authorities across the world are focusing on the reduction of waste water discharge to protect the environment. This growing environmental concern, which has led to stringent government rules, is resulting in a rapid growth in the consumption of corrosion and scale inhibitors by industrial and municipal end-users.
Realizing the need for better water quality, various government bodies across the globe are taking steps to reduce water contamination. Governments across the globe are providing funds and incentives to encourage organizations and households to invest in water treatment chemicals. Further, these governments are funding for the research of new technologies with regard to water treatment chemicals which will boost the growth of the global corrosion and scale inhibitors market during the forecast period.
- Akzo Nobel
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