Global Corrosion Inhibiting Additives Market
- POSTED ON Tuesday, May 25, 2021
The Global Corrosion Inhibiting Additives Market holds the potential to reach US$XX million by 2027. The chemicals that are used to preventMineral-based from rusting when added with gas or liquid are known as corrosion inhibitors additives.
Corrosion Inhibiting additives are used for reducing the corrosion rate of materials such as alloy and Mineral-based. Corrosion rusting can cause severe damage to vehicles & engines. Mineral-based and alloys are generally prone to rust which led to increasing demand for corrosion inhibiting additives market in the automotive industry.
End-users are continually shifting towards products that offer longer product lifetimes while reducing volatile organic compound (VOC) emissions, higher performance, and other negative impacts on human health and the environment. Corrosion inhibiting additives has a wide range of applications such as in industrial lubricants, grease, Mineral-based working fluids, engine oils & power transmission fluids, oils & solvents, and synthetic lubricants.
Consumer shift towards eco-friendly products, increasing acceptance of corrosion inhibitors among sustainable end-users, and development in research & development activities are driving the market growth. There are many corrosion inhibiting additives are available in the market for example corrosion inhibitor- oil-based and H2S scavenger and amine-based. In the oil & gas industries, the demand is high because of the rising concern of corrosions and to ensure the smooth and uninterrupted flow of oil and gas to the end-users. Solvent-based corrosion inhibiting additives can pose threat to the environment as it contains volatile hydrocarbons of high levels.
The report covers the in-depth analysis of market key players with their market share, primary and secondary forecast data analysis to 2027. The global corrosion inhibiting additives market is growing in developing economies because of favorable government policies and market penetration of manufacturers, dealers, and suppliers of corrosion inhibiting additives. The rationals behind the Covid-19 impact on various regions are mentioned in the report. Organic and inorganic macro and micro-economies factors in terms of value and volume are covered in the report.Global Corrosion Inhibiting Additives Market Segment Analysis
Global Corrosion Inhibiting Additives Market
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Water soluble segment was dominantin 2019, and is expected to maintain its position during the forecast period.
By Type, the water-soluble based segment is expected to grow with a CAGR of xx% during the forecast period. The market growth of water-based soluble corrosion inhibiting additives is due to unique properties for instance it contains low zero volatile organic compounds (VOCs) and thick permanent barrier film. Increasing demand in water treatment and petroleum refining is driving the market growth.Global Corrosion Inhibiting Additives Market Regional Insights:
Global Corrosion Inhibiting Additives Market1
The market in Asia pacific was dominantin 2019 and is expected to grow at a CAGR of xx% during the forecast period.
The market in the Asia Pacific is expected to grow at a CAGR of xx% during the forecast period and is a leading consumer of corrosion inhibiting additives. The market growth is attributed to industrializations and urbanizations in developing economies like Indonesia, Vietnam, South Korea, China, and India. Increasing expenditure by FDI and governments in construction industries and steel manufacturing industries have propelled the market growth. In the Middle East and Africa, the demand for corrosion inhibiting additives is increasing because of rising oil & gas production. The improvements in trade activities between the US and China have impelled the market growth during the coming years.
North America is expected to grow at a CAGR of xx% during the forecast period
The consumption of energy in European countries like Germany, Poland, and the U.K is rising at a rapid pace which is expected to drive market growth over the coming years. In North America, initiatives taken by governments and key player’s investment for example in 2018, Cortec Corp. signed a distribution agreement with A. S. Paterson Company for the distribution of Cortec Corp.’s additives in Canada this has created many lucrative opportunities for the market growth.
The objective of the report is to present a comprehensive analysis of the global corrosion inhibiting additives marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding global corrosion inhibiting additives marketdynamics, structure by analyzing the market segments and project global corrosion inhibiting additives marketclear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global corrosion inhibiting additives marketmake the report investor’s guide.
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Global Corrosion Inhibiting Additives Market, by End-Use
• Water treatment• Automotive• Cement & concrete• Oil & gas industry machinery• Mineral-based• OtherGlobal Corrosion Inhibiting Additives Market, by Type
• Mineral-based• Solvent-based• Water emulsion-based• OtherGlobal Corrosion Inhibiting Additives Market, by Chemistry
• Carboxylates• Sulfonates & carboxylic acid derivativesGlobal Corrosion Inhibiting Additives Market, by Region
• Asia Pacific• North America• Europe• South America• Middle East & AfricaGlobal Key players operating in Corrosion Inhibiting Additives Market
• Nouryon• Cortec Corporation• Ashland• Ecolab• Henkel Ibérica, S.A.• The Lubrizol Company• BASF SE• Dow• DuPont de Nemours, Inc.• Baker Hughes, a GE company LLC• Other
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