A corrosion inhibitor is a chemical compound that curbs the corrosion rate of a material, especially an alloy or a metal. The corrosion rate can be reduced by adding some material that reduces the corrosion rate and prevents the metal or alloy from further degradation. The corrosion rate is dampened depending on the effectiveness and quantity of the corrosion-inhibiting material. Such material is utilized in order to extend the shelf life and retain the tensile strength of the materials for a longer duration.
The market is experiencing a dampened growth rate in developed economies like North America and Europe owing to the matured market in these regions. The emerging economies are expected to be the main focus areas for the manufacturers for this market. Most of the emerging economies such as Asia-Pacific are experiencing strong growth in the construction industry which is one of the primary driving factors for corrosion inhibitors.
Some water treatment plants and oil and gas services plants generate the demand for corrosion inhibitors. The growing applicability of corrosion inhibitor materials in different industries is one of the primary driving factors of the market. The effect of acids in the boilers is reduced due to the addition of volatile amines as they form a protective shield on the steel surface and simultaneously act as a anodic inhibitor. As these materials are molecularly thin, it is less intrusive in the actual process. This makes it better than many other materials which impact the actual process in a negative manner.
The availability of alternative materials like better quality plastics, ceramics and anti corrosion alloys are inhibiting the market growth effectively. The environmental regulations and impending bans on corrosion inhibiting materials are further restraining the market growth.
The emerging economies and less developed nations across the globe are some of the untapped regions. These regions are known to open up new opportunities for this market. The excellent anti-corrosive properties of the materials are finding multiple applications in different industries.
Some of the major players in this industry include the Maxwell Chemical Corporation, Imperial Oilfield Chemicals Pvt. Ltd., CellMark USA LLC, and others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.