Press Release

Europe Corrosion Inhibitors Market to Grow with a CAGR of 2.07 % through 2028

Rising utilization in the power generation and oil & gas refinery sector are the major driver of the Europe Corrosion Inhibitors Market in the forecast period 2024-2028

 

According to TechSci Research report, “Europe Corrosion Inhibitors Market - By Region, Competition, Forecast and Opportunities, 2018-2028”, Europe Corrosion Inhibitors Market Size is USD 1121.25 million in 2022 and is anticipated to increase at a CAGR of 2.07% through 2028. Corrosion is a persistent and costly problem that impacts a wide range of industries, including transportation, infrastructure, and oil and gas production. To combat this issue, corrosion inhibitors have been developed as chemical compounds specifically designed to mitigate or prevent corrosion. These inhibitors function by disrupting the electrochemical reactions that lead to corrosion, typically by creating a protective layer on the metal surface. This protective layer can take the form of a physical barrier, like a film that isolates the metal from the corrosive environment, or a chemical barrier that alters the surface chemistry to make it less susceptible to corrosion. There are various types of corrosion inhibitors tailored to specific applications and environmental conditions. Anodic inhibitors inhibit oxidation reactions at the metal's anode (positively charged electrode), while cathodic inhibitors interfere with reduction reactions at the cathode (negatively charged electrode). Mixed inhibitors are versatile compounds that can address both anodic and cathodic processes, providing comprehensive protection. Passivation inhibitors enhance the formation of passive oxide layers on metal surfaces, effectively shielding them from corrosion. Among the most well-known corrosion inhibitors are chromate-based inhibitors, which have been widely used for their effectiveness. However, concerns about their toxicity and environmental impact have led to the development and adoption of alternative inhibitors. In recent years, organic inhibitors, including organic salts, amines, and compounds containing heteroatoms like nitrogen and sulfur, have gained prominence due to their reduced environmental impact and improved safety profiles.

Furthermore, corrosion inhibitors find applications across a diverse range of industries. In the transportation sector, these inhibitors are crucial for protecting vehicles and infrastructure against rust and corrosion, thereby extending their service life and ensuring safety. The aviation industry heavily relies on corrosion inhibitors to safeguard aircraft from the corrosive effects of high-altitude flight and exposure to various environmental conditions. In the oil and gas sector, where metal structures are exposed to harsh environments, corrosion inhibitors are essential for maintaining the integrity of pipelines, drilling equipment, and offshore platforms. In the construction and infrastructure industry, corrosion inhibitors play a vital role in preserving critical elements like bridges and buildings, effectively reducing maintenance costs, and enhancing overall safety.

 

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Additionally, the mode of operation of corrosion inhibitors varies according to the inhibitor type and the particular environmental conditions in which they are applied. For instance, organic inhibitors operate by adsorbing onto the metal surface, thereby establishing a protective film that serves as a physical barrier against corrosive agents. On the other hand, inorganic inhibitors such as chromates induce passivation of the metal surface, prompting the development of a protective oxide layer. This layer effectively hinders subsequent corrosion by inhibiting the electrochemical reactions responsible for metal deterioration.

The Europe Corrosion Inhibitors Market is segmented into type, composition, application, country distribution, and company.

Based on the type, the water based segment is expected to register the highest growth of 2.18% during the forecast period 2024-2028. Water-based corrosion inhibitors offer a multitude of advantages that position them as the preferred choice in various industries. Firstly, their environmentally friendly nature results in minimal harm to ecosystems and human health when compared to their solvent-based counterparts. Water-based inhibitors also align with stringent environmental regulations by reducing the emission of volatile organic compounds (VOCs). Their low toxicity and non-flammability characteristics enhance workplace safety, effectively lowering the risk of accidents.

Moreover, water-based formulations exhibit versatility, being easily mixed, and applied, thereby enhancing cost-effectiveness and convenience in industrial processes. Furthermore, they excel in corrosion protection by forming a robust protective barrier on metal surfaces, leading to extended equipment lifespan and reduced maintenance costs. Water-based corrosion inhibitors prove particularly ideal for systems exposed to water, such as cooling systems and pipelines, thus contributing to the promotion of sustainable and responsible corrosion control practices. In essence, these inhibitors seamlessly combine effective corrosion protection with environmental responsibility, rendering them invaluable assets across a diverse range of industries.

Based on the composition, the organic segment is expected to register the highest growth of 2.61% during the forecast period 2024-2028. Organic-type corrosion inhibitors offer a multitude of advantages that render them invaluable in the ongoing battle against corrosion. Firstly, their environmentally friendly attributes, often characterized by biodegradability and reduced toxicity compared to other inhibitor types, align seamlessly with the growing emphasis on sustainability and eco-friendly practices across various industries. Organic inhibitors exhibit remarkable versatility and compatibility with an extensive array of materials and systems, rendering them suitable for a wide spectrum of applications, spanning from industrial processes to the marine and automotive sectors. Their capacity to establish a protective film on metal surfaces plays a pivotal role in reducing corrosion rates, ultimately prolonging the lifespan of critical equipment and structures.

Moreover, organic inhibitors are renowned for their ability to provide long-lasting protection, diminishing the necessity for frequent reapplication and consequently lowering maintenance costs. Additionally, they demonstrate effectiveness across a broad range of temperatures and pH levels, ensuring reliable corrosion protection even in diverse and challenging environmental conditions. Thus, organic-type corrosion inhibitors seamlessly merge effectiveness, environmental responsibility, and versatility, establishing them as the preferred choice for industries in pursuit of robust and sustainable corrosion control solutions.

Based on the application, the oil & gas refinery segment is expected to register the highest growth of 3.10% during the forecast period, 2024-2028. Corrosion inhibitors hold a pivotal and enduring role within the oil and gas refinery industry, where the ongoing battle against corrosion stands as a constant and critical challenge. Refineries, intricate and demanding environments by nature, subject their equipment and pipelines to a combination of harsh factors, including aggressive chemicals, high temperatures, and moisture levels. These conditions can expedite the corrosion process, posing significant risks. To counteract this formidable adversary, both organic and inorganic corrosion inhibitors are introduced into the refining process. Their primary function is to create protective layers on metal surfaces, effectively acting as shields against the detrimental effects of corrosive agents. In the context of pipelines, these inhibitors play a vital role in mitigating the potential for internal corrosion, a concern heightened by the corrosive nature of hydrocarbons and water content. Within the domain of storage tanks, corrosion inhibitors prove invaluable in preventing the deterioration of tank walls and bottoms. In doing so, they safeguard valuable assets while minimizing the risk of leaks or spills. Moreover, these inhibitors contribute to the extension of the operational lifespan of critical refining equipment, such as heat exchangers and distillation columns, thereby reducing downtime and curbing maintenance costs. As the oil and gas industry continues to undergo transformation and evolution, the utilization of corrosion inhibitors remains an indispensable practice. These inhibitors are essential in ensuring the safety, efficiency, and sustainability of refinery operations, reinforcing their enduring significance within this vital sector.

Based on country, France will witness fastest growth during the forecast period, 2024-2028. France's industrial landscape relies heavily on critical infrastructure, including pipelines, refineries, and manufacturing facilities, all of which are susceptible to corrosion-related challenges. With an emphasis on maintaining the integrity and longevity of these assets, industries are turning to corrosion inhibitors as an essential component of their maintenance and protection strategies. Environmental consciousness and stringent regulations also play a pivotal role in driving the demand for eco-friendly corrosion inhibitors in France. As the country continues to prioritize sustainability and reduced environmental impact, industries are seeking corrosion inhibition solutions that align with these objectives. Water-based and organic-type corrosion inhibitors are particularly favored for their environmentally friendly attributes, as they pose minimal harm to ecosystems and human health, and they are less toxic than some other inhibitor types.

Furthermore, the ongoing expansion and modernization of France's infrastructure, including transportation networks, energy production facilities, and manufacturing plants, necessitate robust corrosion protection measures. Corrosion inhibitors are seen as a cost-effective and efficient way to ensure the reliability and safety of these vital assets, ultimately reducing maintenance costs and downtime.

 

Major companies operating in Europe Corrosion Inhibitors Market are:

  • Nouryon Chemicals Holding B.V.
  • BASF SE
  • LANXESS AG
  • Henkel AG & Co. KGaA
  • Clariant AG
  • Hexigone Inhibitors Ltd

 

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“The oil and gas industry remains a significant consumer of corrosion inhibitors, primarily due to the industry's unique operational challenges. These challenges encompass harsh operating conditions, exposure to corrosive substances, and the extensive infrastructure involved. With the ongoing exploration of deep-sea reserves and the expansion of pipeline networks, it is evident that the demand for advanced corrosion inhibitors within the oil and gas sector is poised for continuous growth. Furthermore, nanotechnology is catalyzing a profound transformation in the field of corrosion inhibitors. This transformation is rooted in the utilization of nanoparticles, where researchers and manufacturers are actively developing corrosion inhibitors that excel in providing enhanced protection against corrosion. The distinctive properties of nanomaterials enable them to penetrate microcracks and expand their coverage, making them exceptionally well-suited for demanding applications, particularly within the oil and gas and marine sectors creates a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Europe Corrosion Inhibitors Market, By Type (Water based, Oil/Solvent based, Vapour based), By Composition (Organic, Inorganic), By Application (Power Generation, Oil & Gas Refinery, Metalwork & Mining, Others), By Country, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Europe Corrosion Inhibitors Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe Corrosion Inhibitors Market.


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Europe Corrosion Inhibitors Market, By Type (Water based, Oil/Solvent based, Vapour based), By Composition (Organic, Inorganic), By Application (Power Generation, Oil & Gas Refinery, Metalwork & Mining, Others), By Country and Competition, Forecast & Opportunities 2018-2028

Chemicals | Oct, 2023

Rising utilization in the power generation and oil & gas refinery sector are the major driver of the Europe Corrosion Inhibitors Market in the forecast period 2024-2028

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