South America Corrosion Inhibitors Market to Grow with a CAGR of 0.57% through 2028
Rising utilization in the pulp &
paper and desalting plant are the major driver of the South America Corrosion
Inhibitors Market in the forecast period 2024-2028
According to TechSci Research report, “South
America Corrosion Inhibitors Market - By Region, Competition, Forecast and
Opportunities, 2018-2028”, South America Corrosion Inhibitors Market Size
is USD 982.90 million in 2022 and is anticipated to increase at a CAGR of 0.57%
through 2028. Corrosion inhibitors find widespread use across a multitude of
industries, from oil and gas to automotive, construction, and aerospace. In the
oil and gas sector, where pipelines and storage tanks are exposed to aggressive
environments, corrosion inhibitors are employed to protect vital
infrastructure, ensuring the safe transport and storage of hydrocarbons. In the
automotive industry, corrosion inhibitors are utilized in coatings and
treatments to enhance the durability and longevity of vehicles, particularly in
regions with harsh winters or high salt usage on roads. In the construction
industry, corrosion inhibitors are essential in reinforced concrete structures
to safeguard the steel reinforcement from corrosion, which can lead to
structural integrity issues. In aerospace, where the safety of passengers and
crew relies on the structural integrity of aircraft components, corrosion
inhibitors are applied to protect critical parts from degradation due to
exposure to high altitudes and varying atmospheric conditions.
Furthermore, corrosion inhibitors are a key component
of maintenance strategies for extending the lifespan of various assets,
reducing maintenance costs, and enhancing operational efficiency. Their role in
preventing corrosion-related accidents and environmental disasters is also
paramount.
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Additionally, the development of new and advanced
corrosion inhibitors is an ongoing process, driven by the need for more
effective and environmentally friendly solutions. Researchers are continually
exploring innovative formulations and technologies to address the specific
corrosion challenges faced by different industries. Additionally, as
sustainability and environmental considerations gain prominence, there is a
growing emphasis on developing eco-friendly corrosion inhibitors that minimize
the environmental impact of their application.
The South America 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 0.67% during the forecast period 2024-2028. Water-based
corrosion inhibitors are the favored option in many sectors due to their wide
range of benefits. In comparison to their solvent-based predecessors, their
ecologically benign nature causes less harm to ecosystems and human health. By
lowering the emission of volatile organic compounds (VOCs), water-based
inhibitors also comply with strict environmental laws. Their low toxicity and
lack of flammability improve worker security, significantly reducing the danger
of accidents.
Additionally, water-based formulations are adaptable
and simple to mix and apply, increasing the cost-effectiveness and practicality
of industrial operations. Additionally, they excel at preventing corrosion by
creating a strong barrier of protection on metal surfaces, resulting in longer
equipment lifespan and lower maintenance costs. Systems exposed to water are
particularly suited for water-based corrosion inhibitors, such as pipes and
cooling systems, helping to spread ethical and sustainable corrosion control
techniques. These inhibitors effectively combine corrosion protection with
environmental responsibility, making them important assets in a variety of
sectors.
Based on the composition, the organic
segment is expected to register the highest growth of 0.63% during the forecast
period 2024-2028. The many benefits that organic-type corrosion inhibitors
provide make them indispensable in the continuous fight against corrosion.
First off, their ecologically favorable qualities, which are frequently
characterized by biodegradability and less toxicity when compared to other
inhibitor kinds, are perfectly in line with the increasing emphasis on
sustainability and eco-friendly practices in a variety of sectors. Organic
inhibitors are appropriate for a wide range of applications, from industrial
processes to the marine and automotive industries, thanks to their amazing
adaptability and compatibility with a wide range of materials and systems.
Their ability to form a protective layer on metal surfaces is crucial in
lowering corrosion rates, which ultimately increases the lifespan of important
machinery and buildings.
Furthermore, organic inhibitors are
recognized for their capacity to offer long-lasting protection, which reduces
the need for regular reapplication and, as a result, lowers maintenance
expenses. Additionally, they exhibit efficiency throughout a wide pH range and
temperature range, guaranteeing dependable corrosion prevention even under a
variety of difficult environmental situations. As a result, organic-type
corrosion inhibitors effortlessly combine efficiency, environmental
sensitivity, and adaptability, making them the go-to option for businesses
looking for efficient and long-lasting corrosion control solutions.
Based on the application, the oil & gas refinery
segment is expected to register the largest growth of 0.81% during the forecast
period, 2024-2028. In the oil and gas refinery sector, where the continual
fight against corrosion poses a significant and persistent problem, corrosion
inhibitors play a crucial and enduring role. The equipment and pipes in
refineries, which are complex and demanding settings by nature, are subjected
to a variety of extreme conditions, including aggressive chemicals, high
temperatures, and moisture levels. These circumstances can speed up corrosion,
which poses serious concerns. Both organic and inorganic corrosion inhibitors
are added to the refining process to combat this powerful foe. Their main
purpose is to coat metal surfaces with protective coatings that effectively
serve as barriers against the damaging effects of corrosive substances. These
inhibitors are essential for preventing internal corrosion in pipelines, which
is a problem made worse by the corrosive properties of hydrocarbons and the
presence of water. Corrosion inhibitors are essential for avoiding the
degradation of tank walls and bottoms in the field of storage tanks. By doing
this, they protect priceless assets while lowering the possibility of leaks or
accidents. Additionally, these inhibitors help to extend the operational
lifespan of crucial refining machinery like heat exchangers and distillation
columns, lowering maintenance costs and downtime. The use of corrosion
inhibitors continues to be a crucial procedure in the oil and gas sector as it
continues to change and develop. These inhibitors are necessary to guarantee
the sustainability, effectiveness, and safety of the process.
Based on country, Brazil will witness
fastest growth during the forecast period, 2024-2028. The demand for corrosion
inhibitors in Brazil is on the rise, driven by the country's vast industrial
landscape and the need to protect critical infrastructure from the corrosive
effects of the tropical climate and various industrial processes. Brazil is
home to a thriving oil and gas sector, and the corrosion of pipelines and
equipment poses a significant challenge. Corrosion inhibitors are essential in
this industry to prevent pipeline failures and ensure the safety and
reliability of oil and gas operations. Additionally, Brazil's maritime industry
relies heavily on corrosion inhibitors to protect ships, offshore platforms,
and port facilities from the corrosive effects of saltwater. The country's
booming mining sector, which extracts valuable minerals, faces the challenge of
protecting equipment and facilities from the corrosive chemicals used in the
extraction process. Furthermore, Brazil's infrastructure, including bridges,
power plants, and storage tanks, requires robust corrosion prevention solutions
to extend their lifespan and reduce maintenance costs. As industries in Brazil
continue to expand, the demand for corrosion inhibitors will persist, making it
a vital component of asset protection and safety measures in the country.
Meeting this demand will require innovative corrosion inhibitor technologies
tailored to the specific challenges posed by Brazil's diverse industrial
landscape and environmental conditions.
Major companies operating in South America Corrosion
Inhibitors Market are:
- Henkel Ibérica, S.A.
- Nouryon Chemicals Argentina SAU
- Eastman Chemical do Brasil Ltda.
- Lanxess Industry Chemicals and Plastics
- Clariant S.A.
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“Corrosion represents a ubiquitous threat, impacting
industries ranging from oil and gas, automotive, and construction to aerospace,
marine, and manufacturing. The market's
growth is underpinned by several key factors, including the ever-expanding
industrial landscape, increasing investments in infrastructure development, and
stringent regulations governing asset integrity and environmental protection.
Furthermore, corrosion inhibitors are crucial for enhancing the durability of
vehicles and extending their lifespan, especially in regions exposed to harsh
environmental conditions creates a lucrative opportunity in the market growth,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“South America 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 South America 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 South America Corrosion Inhibitors Market.
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