The global corrosion inhibitors market is expected to reach US$7.55B by 2020, according to a new study by Grand View Research. Mexico, China, Brazil and India are predicted to witness exponential rise in infrastructure and construction which is expected to augment demand. Power generation was the largest end-use industry for corrosion inhibitors, with market demand of 1366.5 kilo tons in 2013. Increasing power generation in China, India and the Middle East coupled with growing instances of corrosion in cooling towers, steam and hydropower turbines is expected to augment demand.
Corrosion inhibitors are part of preventive maintenance for metallic structures. Water-based corrosion inhibitors dominated the market in 2013 accounting for over 70% of global demand. These applications are preferred over their solvent based counterparts as they have lower emissions which make them environmentally beneficial.
