The Global Corrosion Inhibitors Industry

The global corrosion inhibitors industry is highly competitive and fragmented. New entrants are encouraged to enter the industry because of the low barriers to entry. Companies must invest heavily in research and development, or merge with other companies to become dominant.

The demand for corrosion inhibitors is driven by the cost of repairing and maintaining infrastructure. The total cost of repairing or rehabilitating an industrial structure can exceed USD 27 billion per year. Wider adoption of corrosion-resistant materials can reduce costs. This industry report provides in-depth information about the latest trends, cost savings, and pricing strategies. This report is a vital resource for anyone involved in the market. If you want to be a leader in the industry, you must become a leader.

The global corrosion inhibitors market is segmented by the type of compound used in it. Organic inhibitors are the fastest-growing category, with good solubility in water and high efficacy over a broad range of temperatures. The organic inhibitors contain sulfur, oxygen, and nitrogen atoms. They also contain lone pair electrons, and are effective against a wide range of temperatures. The chemical structure of these compounds and their distribution of charge within the molecules contribute to their efficiency in the corrosion-resistant industry.

The corrosion inhibitors industry is characterized by moderate bargaining power. Suppliers are unlikely to face high pressure from substitutes or new entrants, which makes them a good choice for negotiating price. Depending on the product, buyers should benchmark their preferred pricing model and negotiate with them on their terms. The most common pricing models include market pricing and volume-based pricing. Identifying the best model for your business will help you negotiate better prices and increase profit margins.

The growth of the infrastructure industry will fuel the market for corrosion inhibitors. By 2040, the global market for corrosion inhibitors will be valued at USD 94 trillion. In addition to this, the APAC region will account for nearly 50% of global infrastructure spending. These emerging economies are also expected to spend about half of their GDP on building infrastructure. By contrast, the US market will account for around 20% of this total in the next five years.

Among the major regions, North America accounted for 80.6% of the market revenue in 2017. However, the Middle East and North Africa will be the fastest growing region in the corrosion inhibitors industry over the next five years. The market for corrosion inhibitors will grow at a steady CAGR of 4.2% from 2018 to 2023. Moreover, the company has a number of opportunities in the oil and gas industry. Its key products include advanced technology and eco-friendly additives.