Corrosion Inhibitors Market Innovations in Eco-Friendly Formulations

Corrosion Inhibitors Industry Overview

The global corrosion inhibitors market size was valued at USD 7.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) 3.8% from 2020 to 2027. The growth in the market can be attributed to the development of biobased and more eco-friendly corrosion inhibitors. A gradual shift toward the development of environment-friendly corrosion inhibitors may potentially lead the market toward sustainable development and increase the acceptance of corrosion inhibitors among sustainable end users. A corrosion inhibitor functions by creating a barrier over the coated surface and preventing it from moisture, which is primarily the primary cause of erosion. The mechanisms of organic products include interfacial activity, anodic activity, cathodic activity, barrier activity, and adsorption activity.

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In contrast, inorganic product mechanisms include anodic passivation, cathodic passivation, anion exchange, and saponification. Research has played a significant role in the development of innovative technologies of corrosion mitigation by the application of corrosion inhibitors. The market is highly characterized by numerous product innovations that have resulted from the manufacturer’s contribution to R&D for product performance enhancement.

Besides the increasing corrosion costs, regulations by the U.S. government concerning the toxicity of corrosion inhibitors have impacted the market. Even though several water systems broadly use phosphate-infused products in the country, there are restrictions to their application. Moreover, factors that influence the use of phosphate-infused corrosion inhibitors, including their impacts on wastewater treatment plants and reactions with aluminum, have further added to the limitation.

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• The global dimethylaminopropylamine market size was estimated at USD 358.4 million in 2023 and is projected to grow at a CAGR of 5.0% from 2024 to 2030 owing to its rising application in pharmaceutical industry. In the pharmaceutical industry, DMAPA acts as a reagent in the synthesis of various drugs and active pharmaceutical ingredients (APIs).

• The global lanolin market size was estimated at USD 311.80 million in 2023 and is projected to grow at a CAGR of 4.2% from 2024 to 2030. One of the prominent drivers for the market growth is the increasing demand for lanolin owing to the surging consumer preference for natural and sustainable ingredients in personal care and cosmetic products.

Corrosion Inhibitors Market Segmentation

Grand View Research has segmented the global corrosion inhibitors market on the basis of product, type, end use, and region:

Corrosion Inhibitors Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• Organic
• Inorganic

Corrosion Inhibitors Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• Water Based
• Oil Based

Corrosion Inhibitors End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• Power Generation
• Oil & Gas
• Paper & Pulp
• Metal Processing
• Chemical Processing
• Water Treatment
• Others

Corrosion Inhibitors Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
• North America
o U.S
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
• Asia Pacific
o China
o India
o Japan
o South Korea
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
o Iran
o Iraq
o Kuwait
o Oman
o Bahrain

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Key Companies profiled:
• 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