Global Corrosion Inhibitors Market 2017-2021: End-user Segmentation and Forecast by Technavio
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.
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Technavio has published a new report on the global corrosion inhibitors market from 2017-2021. (Graphic: Business Wire)
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.
This report is available at a USD 1,000 discount for a limited time
only: View
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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.
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at media@technavio.com.
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