global Corrosion Inhibitors Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Corrosion inhibitors are used to initiate a decrease in the corrosion rate in any metal or other materials. The major end-use applications of corrosion inhibitors include water treatment applications, metallurgy, and oil & gas sector. The biggest outlet for corrosion inhibitors is the water treatment application that accounted for almost 40% in 2017.

The corrosion inhibitors demand in the oil & gas sector declined in the 2013 - 2014 owing to the decline in crude oil prices. It had also faced a decline in 2008-2009 economic crisis as most of the end-uses including manufacturing activities and other demand had declined during the period. With engineering plastics and composites replacing the metals in most of the major industries including automotives, the market share of metals in each of the sector is likely to witness a decline in the long-term forecast and therefore, demand for corrosion inhibitors are estimated to be below the historical growth rates.

Some growth for the product will be from the building & construction sector activities from the developing economies especially in the Asia-Pacific region. While a small growth is also seen in water treatment and refineries & petrochemicals.