The global corrosion inhibitors market was valued at USD 7.4 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027. This growth is primarily driven by the development of biobased and environmentally friendly corrosion inhibitors, reflecting a shift toward sustainable solutions. The rising focus on eco-friendly products is likely to enhance the acceptance of these inhibitors among environmentally conscious industries, promoting sustainable development within the market.
Corrosion inhibitors protect surfaces by forming a barrier that shields them from moisture, a leading cause of erosion. The mechanisms employed by organic corrosion inhibitors include interfacial, anodic, cathodic, barrier, and adsorption activities, while inorganic inhibitors function through mechanisms such as anodic passivation, cathodic passivation, anion exchange, and saponification. Research and innovation play a vital role in improving corrosion mitigation strategies, with manufacturers focusing on R&D to enhance product performance, leading to frequent product innovations in the market.
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Product Segmentation Insights
In 2019, the organic segment accounted for 73.8% of the market share, driven by advancements in bio-based inhibitors. These inhibitors are gaining popularity due to their low cost, low toxicity, and availability from natural sources like aromatic herbs, spices, and medicinal plants. Bio-based inhibitors generally possess aromatic structures with long aliphatic chains and free electron pairs, making them effective for specific applications. For example, Delonix regia and rosemary leaves are known to prevent aluminum corrosion, while natural honey inhibits copper corrosion. These developments are expected to fuel further growth in this segment over the forecast period.
Inorganic inhibitors offer a traditional and straightforward way to enhance metal passivity. Some commonly used inorganic corrosion inhibitors include chromate, nitrate, molybdate, phosphate, and silicate salts, along with mercury, platinum, palladium, rhodium, rhenium, and iridium. Platinum group metals—platinum, palladium, rhodium, and iridium—are particularly valued for their thermodynamic stability across the pH scale. They resist corrosion from non-oxidizing acidic solutions and remain unaffected by moisture-laden air. The superior properties of these inorganic inhibitors are expected to drive significant demand in the near future.
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