Corrosion Inhibitors Market Size

Corrosion Inhibitors Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Corrosion Inhibitors Market - The global corrosion inhibitors market is projected to grow at a steady rate, and is expected to reach USD 4.49 billion by 2024, and reach USD 6.5 billion by 2035. CAGR (Compounded Annual Growth Rate) is 3.42% from 2025 to 2035. The growth of this market is mainly attributed to the increase in industrial activities, especially in the oil and gas, automobile and construction industries, where corrosion prevention is a key factor for asset integrity and operational efficiency. Furthermore, the rising awareness of the economic impact of corrosion and the need for sustainable solutions are driving the demand for advanced corrosion inhibitors. The development of high-efficiency and eco-friendly products is also driving the market. In addition, industry players such as BASF SE, The Dow Chemical Company and Ecolab Inc. are constantly investing in research and development to expand their product offerings. Strategic initiatives such as strategic alliances and collaborations to enhance product effectiveness and market penetration are also expected to drive market growth. For example, recent collaborations between chemical manufacturers and end users are focused on addressing specific corrosion challenges, which will increase the growth potential of the market.

Regional Market Size

Regional Deep Dive

The market for corrosion inhibitors is growing at a rapid pace, owing to the growing number of industrial projects, the increasing investment in the construction industry, and the growing awareness of the importance of preventing and combating the effects of corrosion. The North American market is characterized by a strong presence of major players and strict regulatory policies that encourage the use of eco-friendly corrosion inhibitors. Europe has a strong demand for advanced corrosion-inhibiting solutions, especially in the automotive and aeronautical industries. The Asia-Pacific region is witnessing rapid industrialization and urbanization, which is driving the demand for corrosion-inhibiting solutions. The Middle East and Africa (MEA) are influenced by the oil and gas sector, which requires effective corrosion-control measures. Latin America is gradually adopting corrosion-inhibiting solutions, owing to the growing industrial activity and the development of its infrastructure.

North America

• The United States government has enacted a regulation requiring the use of more environmentally friendly products, thereby putting the likes of Cortec and BASF under pressure to develop greener solutions.
• Nano-technology has led to the development of more effective corrosion inhibiting products, and companies like AkzoNobel are investing in research to improve the performance of their products.
• North America's oil and gas industry is progressively adopting the use of corrosion inhibitors to minimize the risks of pipe failure. Major companies like Chevron and ExxonMobil have developed advanced corrosion control strategies.

Europe

• The REACH regulation of the European Union has prompted the industry to reformulate its products to meet these stricter requirements.
• Smart coatings that monitor the level of corrosion in real time are becoming more and more popular, with PPG Industries leading the way in developing these advanced solutions.
• Germany is a world leader in the prevention of corrosion of automobiles, and the major automobile companies, such as the Volkswagen group, are concentrating their research on the prevention of rust in order to increase the life of their cars.

Asia-Pacific

• The rapid industrialization of China and India has increased the demand for corrosion-inhibiting chemicals, and KCC has been expanding its product range to meet this demand.
• In the last decade, India’s Make in India campaign has been a major force behind the development of new technology to control and monitor corrosion.
• The construction industry in Southeast Asia is growing rapidly. This is causing the development of advanced rust-prevention systems. Jotun and Nippon Paint are active in this field.

MEA

• Oil and gas companies in the GCC countries are the main drivers for corrosion inhibition. Companies such as Saudi Aramco are implementing comprehensive corrosion management programmes.
• Moreover, the recent investment in the region in the production of electricity from sun and wind has led to the development of special corrosion products for these two applications. Companies such as Total Energy are already working on these new products.
• The regulatory environment in the Middle East and Africa is evolving, and governments are increasingly aware of the importance of corrosion management in major construction projects, which has led to greater collaboration between the public and private sectors.

Latin America

• Brazil's industrial development has made the market for corrosion-inhibiting products more and more attractive. Tintas Coral, a local manufacturer, is developing products specifically for the construction and automobile industries.
• The mining industry of the region has more and more adopted the practices of corrosion management. Companies such as Vale SA have invested in the use of advanced corrosion inhibitors to protect their assets.
• The PAC program, which aims to accelerate the development of Brazil, will boost the demand for corrosion-preventive products in construction projects.

Did You Know?

“Corrosion is responsible for 3 to 4 percent of the world's gross national product, indicating the important economic impact of the phenomenon.” — National Association of Corrosion Engineers (NACE)

Segmental Market Size

The market for corrosion inhibiting chemicals is presently undergoing a steady growth, owing to the increasing industrial activity and the need for corrosion protection in various industries. There is a constant increase in the demand for corrosion inhibiting chemicals, because of the growing demand for maintenance and repair of aging industrial equipment. Moreover, the use of corrosion inhibiting chemicals is especially gaining momentum in the oil and gas, the automobile, and the construction industries.

Inhibitors are now a well-established method of preventing rust, with companies such as BASF and Dow leading the field in this respect. The main applications are in the form of protective coatings for the marine environment and rust-proof materials for pipelines. The main trends are the trend towards more sustainable formulations, and the development of nanotechnology, which increases the effectiveness of the rust-proofing materials. Furthermore, the trend towards digitalization of asset management is influencing the industry’s development, as companies use data analysis to optimize their rust-proofing strategies.

Future Outlook

The market for corrosion inhibiting chemicals is expected to grow steadily from 2024 to 2035. The market is expected to rise from US$4.49 billion to US$6.49 billion at a compound annual growth rate (CAGR) of 3.42%. It will be driven by the rising demand for corrosion protection in the oil and gas, the automobile and the construction industries. The ageing of the world's industrial facilities and the increasing need for maintenance will lead to an increased demand for advanced corrosion inhibiting chemicals. By 2035, it is expected that the penetration of corrosion inhibiting chemicals in the key industries will exceed 60%.

The report titled “The Global and Chinese Corrosion Inhibitor Market Research Report 2023” predicts that “advancements in technology, such as the development of eco-friendly and high-efficiency corrosion inhibiting products, will further drive the market growth.” Regulations aimed at reducing the impact on the environment will encourage the use of sustainable solutions, and will drive product innovation. Furthermore, the use of smart technologies such as Internet of Things (IoT)-enabled monitoring systems will increase the effectiveness of corrosion management. The report also highlights a trend toward the use of water-based and biodegradable products to meet the growing demand for sustainable practices and the UN’s sustainable development goals. Consequently, the corrosion inhibiting market will continue to evolve, which will create opportunities for suppliers and users.