Global Engine Oil Corrosion Inhibitors Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 857.60 Million |
 Market Size (Forecast Year) |
USD 1,495.69 Million |
 CAGR |
% |
| Major Markets Players |
Global Engine Oil Corrosion Inhibitors Market, By Agent (Oxygen, Hydrogen Sulfide, Carbon Dioxide), Corrosion Type (Uniform or General Corrosion, Galvanic Corrosion, Localized Corrosion, Stress Corrosion Cracking (SCC) and Erosion Corrosion), Inhibitor Type (Passivating Inhibitors, Volatile Inhibitors, Cathodic Inhibitors, Anodic Inhibitors, Mixed Inhibitors, Synergistic Inhibitors, Precipitation Inhibitors, Green Corrosion Inhibitors and Adsorption Action Inhibitors), End-Use Industry (Power Generation, Oil and Gas, Chemical Processing, Metal Processing and Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Corrosion Inhibitor is considered an effective solution for protecting ground, bright, or highly polished steel and other metal surfaces. Solvent or oil blends are applied by dipping, spraying or brushing. Solvent solutions deposit a thin, essentially dry film that is utilized extensively on finished surfaces, and tools, among others.
- These inhibitors suitable for direct use or additional formulation for a wide range of industries. Global Engine Oil Corrosion Inhibitors Market was valued at USD 857.6 million in 2021 and is expected to reach USD 1,495.69 million by 2029, registering a CAGR of 7.2% during the forecast period of 2022-2029. Oil and Gas industry is expected to grow at the highest growth owing to the high use of corrosion inhibitors on a large scale. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Corrosion inhibitors are used by numerous manufacturers of electrical parts as these chemicals assist in keeping production conduits and/or completion systems from corroding. Various industries use corrosion inhibitors in their daily operations, such as mining, petrochemicals, power, oil and gas, and petrochemicals, among other companies that protect the environment.
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
|
Forecast Period |
2022 - 2029 |
|
Historic Years |
2020 (Customizable to 2019 - 2014) |
|
Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
|
Segments Covered |
Agent (Oxygen, Hydrogen Sulfide, Carbon Dioxide), Corrosion Type (Uniform or General Corrosion, Galvanic Corrosion, Localized Corrosion, Stress Corrosion Cracking (SCC) and Erosion Corrosion), Inhibitor Type (Passivating Inhibitors, Volatile Inhibitors, Cathodic Inhibitors, Anodic Inhibitors, Mixed Inhibitors, Synergistic Inhibitors, Precipitation Inhibitors, Green Corrosion Inhibitors and Adsorption Action Inhibitors), End-Use Industry (Power Generation, Oil and Gas, Chemical Processing, Metal Processing and Others) |
|
Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
|
Market Players Covered |
Advance Products & Systems, LLC. (US), Akzo Nobel N.V. (Netherlands), Air Products and Chemicals, Inc. (US), Champion Technology Services, Inc. (US), ICL (Israel), SUEZ (France), Daubert Cromwell, Inc. (US), Dai-ichi India Pvt Ltd (India), Solvay (Belgium), ChemTreat, Inc. (US), Aegion Corporation (US), Kurita Water Industries Ltd. (Japan), Kemira (Finland), The Lubrizol Corporation (US), Milacron (US), Ecolab (US), QED Chemicals Ltd (UK), Eastman Chemical Company (US), SHAWCOR (Canada), Ashland. (US), Corrosion Technologies. (US), and BASF SE (US) |
COVID-19 had a Major Impact on Engine Oil Corrosion Inhibitors Market
COVID-19 has a major impact on the engine oil corrosion inhibitors market. The factories in several countries witnessed shut downs in the initial stages of the pandemic as the government’s implemented strict lockdowns in order to prevent the spread of the virus. In the post-pandemic, the lockdowns are lifted and restrictions are eased. Corrosion inhibitors manufacturers are being allowed to resume factory operations but at a limited capacity.
The Market Dynamics of the Engine Oil Corrosion Inhibitors Market Include:
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High Demand for Treated Water
The increase in demand for treated water in various end-use segments, including mining, power, oil and gas, and petrochemicals, among others, is one of the major factors driving the growth of engine oil corrosion inhibitors market growth.
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Stringent Government Regulations
The presence of stringent government regulations regarding health and environmental safety accelerate the market.
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Increase in Corrosion Cost
The increase in the corrosion cost that leads to rising demand for these engine oil corrosion inhibitors further influence the market.
Additionally, rapid industrialization, investment surge, and manufacturing development positively affect the engine oil corrosion inhibitors market.
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Preference for Environmentally Friendly Corrosion Inhibitors
The rise in the inclination towards environmentally friendly corrosion inhibitors extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, research and development to introduce a new generation of green corrosion inhibitors that have more innovative uses will help in the expansion of market.
Restraints/Challenges faced by the Engine Oil Corrosion Inhibitors Market
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Use of Corrosion-Resistant Materials
The increase in the use of corrosion-resistant materials and concerns regarding the performance of these inhibitors during high temperatures are expected to obstruct market growth.
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Demand for Eco-Friendly Formulations
The rise in the preference for eco-friendly formulations is projected to challenge the welding materials market in the forecast period of 2022-2029.
This engine oil corrosion inhibitors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the engine oil corrosion inhibitors market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Recent Development
- Azelis established a new distribution deal with Hexigone, in October’2021. Azelis aims to sell Hexigone corrosion inhibitors throughout Turkey, Europe, Turkey, and the Baltics. The Hexigone product line will enable Azelis to provide novel anti-corrosion coatings and applications.
Global Engine Oil Corrosion Inhibitors Market Scope
The engine oil corrosion inhibitors market is segmented on the basis of agent, corrosion type, inhibitor type and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Agent
- Oxygen
- Hydrogen Sulfide
- Carbon Dioxide
On the basis of agent, the engine oil corrosion inhibitors market is segmented into oxygen, hydrogen sulfide and carbon dioxide.
Corrosion Type
- Uniform or General Corrosion
- Galvanic Corrosion
- Localized Corrosion
- Stress Corrosion Cracking (SCC)
- Erosion Corrosion
On the basis of corrosion type, the engine oil corrosion inhibitors market is segmented into uniform or general corrosion, galvanic corrosion, localized corrosion, stress corrosion cracking (SCC) and erosion corrosion.
Inhibitor Type
- Passivating Inhibitors
- Volatile Inhibitors
- Cathodic Inhibitors
- Anodic Inhibitors
- Mixed Inhibitors
- Synergistic Inhibitors
- Precipitation Inhibitors
- Green Corrosion Inhibitors
- Adsorption Action Inhibitors
On the basis of inhibitor type, the engine oil corrosion inhibitors market is segmented into passivating inhibitors, volatile inhibitors, cathodic inhibitors, anodic inhibitors, mixed inhibitors, synergistic inhibitors, precipitation inhibitors, green corrosion inhibitors and adsorption action inhibitors.
End-Use Industry
- Power Generation
- Oil and Gas
- Chemical Processing
- Metal Processing
- Others
On the basis of end-use industry, the engine oil corrosion inhibitors market is segmented into power generation, oil and gas, chemical processing, metal processing and others.
Engine Oil Corrosion Inhibitors Market Regional Analysis/Insights
The engine oil corrosion inhibitors market is analyzed and market size insights and trends are provided by country, agent, corrosion type, inhibitor type and end-use industry as referenced above.
The countries covered in the engine oil corrosion inhibitors market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the engine oil corrosion inhibitors market because of the increase in shale gas extraction within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in demand for water treatment chemicals in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Engine Oil Corrosion Inhibitors Market Share Analysis
The engine oil corrosion inhibitors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to engine oil corrosion inhibitors market.
Some of the major players operating in the engine oil corrosion inhibitors market are Advance Products & Systems, LLC (US), Akzo Nobel N.V., (Netherlands), Air Products and Chemicals, Inc., (US), Champion Technology Services, Inc. (US), ICL (Israel), SUEZ (France), Daubert Cromwell, Inc., (US), Dai-ichi India Pvt Ltd (India), Solvay (Belgium), ChemTreat, Inc., (US), Aegion Corporation (US), Kurita Water Industries Ltd., (Japan), Kemira (Finland), The Lubrizol Corporation (US), Milacron (US), Ecolab (US), QED Chemicals Ltd (UK), Eastman Chemical Company (US), SHAWCOR (Canada), Ashland (US), Corrosion Technologies (US), and BASF SE (US), among others.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
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