Corrosion Inhibitors Market Size & Share 2016 - 2023
Market Size by Product (Organic, Inorganic), by Application (Water based, Oil/solvent based), by End Use (Power Generation, Oil & Gas, Pulp & paper, Metals Processing, Chemicals), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI389
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Published Date: April 2016
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Corrosion Inhibitors Market Size
Corrosion Inhibitors Market size for 2015 was close to USD 6 billion, and is anticipated to grow at over 4.9% CAGR.
Robust growth in the construction industry across the globe is analyzed to be the prime factor propelling the global corrosion inhibitors market size over the forecast timeframe. The product is widely used in coating construction materials such as steel & steel bars, bolts & nuts and metal components. The product helps in increasing the product life and durability, as its application helps the material against corrosion caused by atmospheric moisture and harsh climatic conditions. Furthermore, in 2015, the global construction investment was roughly around USD 7 trillion and shall surpass USD 13 trillion over the estimated timeframe. This trend will substantially boost the business growth by 2023.
The product is an essential raw material for water treatment chemicals. Increasing water treatment chemicals demand on account to depleting clean water sources due to rapid industrialization will drive the global corrosion inhibitors market size over the projected timeframe. The overall water treatment chemicals industry is forecast to exceed USD 30 billion over the projected period. This will subsequently result in industry expansion. Furthermore, rising clean water demand from industries including electronics, chemicals and medical will further complement industry growth.
The global corrosion inhibitors market size is sternly directed and regulated by environmental regulations, precisely regarding its disposal and exposure to human. For instance, increasing product usage results in disposal of harmful raw material used in the industry such as chromium, zinc and phosphorous. This is anticipated to hinder the global business growth by 2023. However, the industry players are engaged in commercialization and R&D of environment friendly products, this will create new growth prospects for the industry.
Corrosion Inhibitors Market Analysis
In 2015, organic corrosion inhibitors market size dominated the global industry and shall also further to witness maximum growth over the projected timeframe. Organic amines, benzotriazole, phosphonates, tolyltriazole and mercaptobenzothiazole are the major organic products used in the industry owing to their superior characteristics including stability. Furthermore, rising concerns regarding inorganic product owing to its associated adverse effects on the environment will consequently contribute to the segment growth by 2023.
Inorganic corrosion inhibitors market size is analyzed to witness moderate gains more than 3% CAGR over the projected timeframe. The inorganic industry can be segregated as anodic and cathodic products based on its action mechanism on metals such as magnesium, zinc and nickel. The product is widely used owing to its higher stability in harsh climatic conditions.
Corrosion inhibitors market size for water based dominated the global industry in 2015. The industry growth for the segment is primarily driven by growing water treatment chemicals need. Furthermore, growing industries including refining, construction, mining and power generation is likely to positively influence the global industry growth over the projected timeframe.
The corrosion inhibitors market size for overall oil/solvent is forecast to observe growth more than 4% by 2023. The oil/solvent based applications involve copper, steel, zinc, aluminum cast iron, and alloys. Oil/solvent based coatings provide reliable performance over the prolonged duration owing to boost industry growth by 2023. However, the application has limited spectrum while operating across closed systems as it possesses higher flammability characteristics, which may negatively influence demand.
The global corrosion inhibitors market size for power generation was valued close to USD 1.5 billion in 2015. The product is extensively used across equipment used in power generation such as gas turbines, switch gears, pumps and electronics components. Growing population across the globe results in the increasing energy demand. This trend will boost the overall industry for power generation end-use.
The overall corrosion inhibitors market size for oil & gas is forecast to witness gains more than 5.5% CAGR over the projected timeframe. Escalating oil & gas industry will subsequently drive the global industry growth by 2023. The product finds widespread application the industry as it components used in the oil & gas exploration are exposed to extreme climatic conditions and requires protection against corrosion. Furthermore, shale gas exploration in the U.S. and Russia will complement business growth by 2023.
In 2015, North America, led by the U.S. corrosion inhibitors market size was valued roughly around USD 1.5 billion. Positive outlook from the regional construction industry post 2008 economic turmoil is one among the major factor contributing business growth. Furthermore, robust oil & gas industry in the U.S. will propel product demand by 2023.
Asia Pacific, led by India and China, dominated the global corrosion inhibitors market size in 2015 and shall witness highest gains over the projected timeframe. The regional growth is particularly attributed to increasing construction spending for commercial and residential projects. In addition, increasing government investment towards improving their public infrastructure will further complement regional business growth by 2023.
Corrosion Inhibitors Market Share
The global corrosion inhibitors market size was moderately consolidated in 2015 with major industry players including
comprising for less than half of the total share. Some other significant industry share contributors include
These industry players are extensively involved in strategic growth activities such as capacity expansion, acquisitions & mergers and new product development in order to expand their global presence.
Corrosion Inhibitors Industry Background
Strong growth in the construction industry is the major factor propelling the overall corrosion inhibitors industry size over the projected timeframe. Increasing product demand as an essential raw material for water treatment chemicals will complement industry growth by 2023. However, harmful adverse effects related with the product makes the industry strictly directed and regulating by government regulations owing to obstruct the overall business growth over the estimated period. Nevertheless, R&D conducted by the industry players has brought up ecofriendly or green corrosion inhibitors products and has created new growth avenues for the industry. Asia Pacific dominated the global corrosion inhibitors industry size on account of increasing product demand from end-user industries such as construction.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →