Understanding the Role of Corrosion Inhibitors Market in the Oil and Gas Industry to Reach US$ 12.4 Billion in 2032

According to a recent study done by FMI, the corrosion inhibitors market is anticipated to have a prodigious CAGR of 4.1% during the period of 2022-2032. The Corrosion Inhibitors Market is anticipated to reach US$ 12.4 Billion in 2032, from US$ 8.3 Billion in 2022. The market was valued at US$ 7.9 Billion in 2021 and is expected to grow with a Y-O-Y growth rate of 5.0%.

This study explains that an increase in the demand for corrosion inhibitors in various industries such as pulp & paper, chemical processing, oil & gas, petroleum, and metals to protect from corrosion has led to higher demand from emerging countries.

Infrastructural development in economies such as China, India, Brazil, and South Korea, are expected to undergo infrastructural development and boost industrial activities for the growth of their economies. Infrastructural growth related to electricity demand, clean water demand, fuel demand, transportation demand, and construction demand are expected to boost the market for corrosion inhibitors in the forthcoming years.

An increase in the demand for corrosion inhibitors in various industries such as pulp & paper, chemical processing, oil & gas, petroleum, and metals to protect from corrosion has led to higher demand from emerging countries, in particular. Cooling water is the largest segment for corrosion inhibitors in the water treatment process to protect the metal machinery from the water flow.

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"Infrastructural growth related to electricity demand, clean water demand, fuel demand, transportation demand, and construction demand are expected to influence the Corrosion Inhibitors Market during the forecast period," remarks an FMI analyst.

Key Takeaways from the Market Study

Key Players

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Competitive Landscape

Players in the global Corrosion Inhibitors Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market.

Some of the recent developments among the key players are:

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Key Segments Covered In The Corrosion Inhibitors Market Study

Corrosion Inhibitors Market by Compound:

Corrosion Inhibitors Market by Application:

Corrosion Inhibitors Market by Type:

Corrosion Inhibitors Market by End-Use Industry:

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Know More about What the Corrosion Inhibitors Market Report Covers

Future Market Insights offers an unbiased analysis of the global Corrosion Inhibitors Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Corrosion Inhibitors Market, the market is segmented based on compound, application, type, and end-use industry across five major regions.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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