If you have found yourself in search of a water treatment application that would help you capture the largest share of the corrosion inhibitors market, then read this article. It is full of information on how to create a water treatment application that will get you every bit of the profit you are looking for!
What is Corrosion?
Corrosion is the breakdown of metal by chemicals, oxygen and salt water. The most common forms of corrosion are rusting and blackening which can lead to mechanical failures. Corrosion inhibitors are used in many industries to prevent corrosion. The corrosion inhibitors market is expected to grow at a CAGR of 7.5% during the forecast period 2018-2024.
The corrosion inhibitors market has been segmented on the basis of product, application and region. The product segment is further sub-segmented into acid neutralizers, alkaline earth metals protectants, azodicarbonamide (ADA) and others. The application segment is divided into transportation & infrastructure, downstream petroleum & chemical, naval & marine, food & beverage and others. The region segment includes North America, Europe, Asia Pacific (APAC), Latin America and Middle East & Africa (MEA).
The market for corrosion inhibitors was estimated at USD 5.1 billion in 2017 and is projected to grow at a CAGR of 7.5% during the forecast period 2018-2024. This growth can be attributed to the increasing awareness about the benefits of corrosion inhibitors in various industrial sectors such as transportation infrastructure
How Water Treatment Application Work
Water treatment application work by removing contaminants like metals, chemicals and other pollutants from water. By doing this, it helps improve the quality of water for human and other organism use. In particular, the water treatment application market is expected to grow at a CAGR of around 6.7% during 2019-2024. This is primarily due to the growing awareness about the importance of clean drinking water, as well as increasing concerns over the negative impact of pollutants on public health.
Types of Water Treatment Applications:
Chlorine dioxide (ClO2) is the most commonly used type of water treatment application. It works by breaking down organic pollutants into carbon dioxide and chlorinated molecules. This process is highly effective at eliminating chlorine-based odor and taste, but it has limited ability to eliminate heavy metals and other chemicals. Chlorine dioxide is mainly used in wastewater treatment applications, such as in municipal wastewater plants and industrial effluents.
In contrast, advanced oxidation processes (AOPs) use specific types of oxidants to remove contaminants from water. AOPs can be divided into two categories - contact oxidizers and non-contact oxidizers. Contact oxidizers use liquid
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Analysis of Corrosion Inhibitors Market
Water treatment application is the largest market for corrosion inhibitors. Increasing awareness about the importance of corrosion control in water systems has led to increased demand for these products. Moreover, stringent environmental regulations are also boosting the growth of this market. The global corrosion inhibitors market is expected to reach USD XX million by 2024 from USD XX million in 2017, at a CAGR of XX%. This Report covers the present scenario and the growth prospects of the corrosion inhibitors market for various types of treatment applications. It also deals with key players in this market and their competitive strategies. The report includes a SWOT analysis and a PEST analysis.
Factors Driving the Corrosion Inhibitors Market
The corrosion inhibitors market is expected to grow at a CAGR of 7.5% during the forecast period 2017-2021. These inhibitors help in preventing the corrosion of various metallic and non-metallic structures in water pipelines and other systems. The increasing awareness about the need to protect infrastructure against corrosion is expected to drive the market growth.
Amongst the key players in this market, BASF SE is estimated to hold the largest market share with a value of USD 2.4 billion by 2021. The company’s product offerings include inhibitors for alloys, steels, copper, brass, aluminum and other alloys as well as coatings for metals and semi-conductors. Other key players in this market include 3M Company (US), Akzo Nobel NV (Netherlands), Evonik Industries AG (Germany), Saint Gobain SA (France) and Dow Chemical Company (US).
Who Is Winning The Frame Of Mind?
As the corrosion inhibitors market is predicted to grow at a CAGR of 5.0% from 2017 to 2021, who will be the major drivers and beneficiaries of this growth?
Major Players in the Corrosion Inhibitors Market:
1. BASF SE (Germany)
2. OMV AG (Austria)
3. Reckitt Benckiser Group plc (U.K.)
4. SABMiller Plc (U.K.)
5. Veolia Environnement S.A. (France)
6. Hydro Technologies Incorporated (U.S.)
7. Clariant AG (Germany)
Top 10 Companies in the Forecast Period
Water treatment has emerged as a key application area for corrosion inhibitors owing to the increasing awareness about the health threats posed by waterborne diseases. The corrosion inhibitors market is expected to grow at a CAGR of 6.8% during the forecast period, according to a report by Grand View Research, Inc. This growth is attributed to the increasing demand for these inhibitors from various industrial sectors such as chemicals, food & beverage, automotive, and infrastructure & construction.
Amongst the top companies profiled in this report are 3M Company (U.S.), BASF SE (Germany), and Lonza Group (Switzerland). These companies are expected to lead the market in terms of revenue generation during the forecast period.
Apart from water treatment, other applications for corrosion inhibitors include air conditioning, metalworking, and pharmaceuticals. These applications are expected to account for a major share of the market during the forecast period.
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