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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