According to TechSci Research report, “South America Corrosion Inhibitors Market – By Region, Competition, Forecast, and Opportunities, 2018-2028”, South America Corrosion Inhibitors Market Size is USD 982.90 million in 2022 and is anticipated to increase at a CAGR of 0.57% through 2028. Corrosion inhibitors find widespread use across a multitude of industries, from oil and gas to automotive, construction, and aerospace.
In the oil and gas sector, where pipelines and storage tanks are exposed to aggressive environments, corrosion inhibitors are employed to protect vital infrastructure, ensuring the safe transport and storage of hydrocarbons. In the automotive industry, corrosion inhibitors are utilized in coatings and treatments to enhance the durability and longevity of vehicles, particularly in regions with harsh winters or high salt usage on roads.
In the construction industry, corrosion inhibitors are essential in reinforced concrete structures to safeguard the steel reinforcement from corrosion, which can lead to structural integrity issues. In aerospace, where the safety of passengers and crew relies on the structural integrity of aircraft components, corrosion inhibitors are applied to protect critical parts from degradation due to exposure to high altitudes and varying atmospheric conditions.
Furthermore, corrosion inhibitors are a key component of maintenance strategies for extending the lifespan of various assets, reducing maintenance costs, and enhancing operational efficiency. Their role in preventing corrosion-related accidents and environmental disasters is also paramount.
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Additionally, the development of new and advanced corrosion inhibitors is an ongoing process, driven by the need for more effective and environmentally friendly solutions. Researchers are continually exploring innovative formulations and technologies to address the specific corrosion challenges faced by different industries. Additionally, as sustainability and environmental considerations gain prominence, there is a growing emphasis on developing eco-friendly corrosion inhibitors that minimize the environmental impact of their application.
The South America Corrosion Inhibitors Market is segmented into type, composition, application, country distribution, and company.
Based on the type, the water-based segment is expected to register the highest growth of 0.67% during the forecast period 2024-2028. Water-based corrosion inhibitors are the favored option in many sectors due to their wide range of benefits. In comparison to their solvent-based predecessors, their ecologically benign nature causes less harm to ecosystems and human health. By lowering the emission of volatile organic compounds (VOCs), water-based inhibitors also comply with strict environmental laws. Their low toxicity and lack of flammability improve worker security, significantly reducing the danger of accidents.
Additionally, water-based formulations are adaptable and simple to mix and apply, increasing the cost-effectiveness and practicality of industrial operations. Additionally, they excel at preventing corrosion by creating a strong barrier of protection on metal surfaces, resulting in longer equipment lifespan and lower maintenance costs. Systems exposed to water are particularly suited for water-based corrosion inhibitors, such as pipes and cooling systems, helping to spread ethical and sustainable corrosion control techniques. These inhibitors effectively combine corrosion protection with environmental responsibility, making them important assets in a variety of sectors.
Based on the composition, the organic segment is expected to register the highest growth of 0.63% during the forecast period 2024-2028. The many benefits that organic-type corrosion inhibitors provide make them indispensable in the continuous fight against corrosion. First off, their ecologically favorable qualities, which are frequently characterized by biodegradability and less toxicity when compared to other inhibitor kinds, are perfectly in line with the increasing emphasis on sustainability and eco-friendly practices in a variety of sectors.
Organic inhibitors are appropriate for a wide range of applications, from industrial processes to the marine and automotive industries, thanks to their amazing adaptability and compatibility with a wide range of materials and systems. Their ability to form a protective layer on metal surfaces is crucial in lowering corrosion rates, which ultimately increases the lifespan of important machinery and buildings.
Furthermore, organic inhibitors are recognized for their capacity to offer long-lasting protection, which reduces the need for regular reapplication and, as a result, lowers maintenance expenses. Additionally, they exhibit efficiency throughout a wide pH range and temperature range, guaranteeing dependable corrosion prevention even under a variety of difficult environmental situations. As a result, organic-type corrosion inhibitors effortlessly combine efficiency, environmental sensitivity, and adaptability, making them the go-to option for businesses looking for efficient and long-lasting corrosion control solutions.
Based on the application, the oil & gas refinery segment is expected to register the largest growth of 0.81% during the forecast period, 2024-2028. In the oil and gas refinery sector, where the continual fight against corrosion poses a significant and persistent problem, corrosion inhibitors play a crucial and enduring role. The equipment and pipes in refineries, which are complex and demanding settings by nature, are subjected to a variety of extreme conditions, including aggressive chemicals, high temperatures, and moisture levels.
These circumstances can speed up corrosion, which poses serious concerns. Both organic and inorganic corrosion inhibitors are added to the refining process to combat this powerful foe. Their main purpose is to coat metal surfaces with protective coatings that effectively serve as barriers against the damaging effects of corrosive substances. These inhibitors are essential for preventing internal corrosion in pipelines, which is a problem made worse by the corrosive properties of hydrocarbons and the presence of water. Corrosion inhibitors are essential for avoiding the degradation of tank walls and bottoms in the field of storage tanks.
By doing this, they protect priceless assets while lowering the possibility of leaks or accidents. Additionally, these inhibitors help to extend the operational lifespan of crucial refining machinery like heat exchangers and distillation columns, lowering maintenance costs and downtime. The use of corrosion inhibitors continues to be a crucial procedure in the oil and gas sector as it continues to change and develop. These inhibitors are necessary to guarantee the sustainability, effectiveness, and safety of the process.
Based on country, Brazil will witness fastest growth during the forecast period, 2024-2028. The demand for corrosion inhibitors in Brazil is on the rise, driven by the country’s vast industrial landscape and the need to protect critical infrastructure from the corrosive effects of the tropical climate and various industrial processes. Brazil is home to a thriving oil and gas sector, and the corrosion of pipelines and equipment poses a significant challenge. Corrosion inhibitors are essential in this industry to prevent pipeline failures and ensure the safety and reliability of oil and gas operations.
Additionally, Brazil’s maritime industry relies heavily on corrosion inhibitors to protect ships, offshore platforms, and port facilities from the corrosive effects of saltwater. The country’s booming mining sector, which extracts valuable minerals, faces the challenge of protecting equipment and facilities from the corrosive chemicals used in the extraction process. Furthermore, Brazil’s infrastructure, including bridges, power plants, and storage tanks, requires robust corrosion prevention solutions to extend their lifespan and reduce maintenance costs.
As industries in Brazil continue to expand, the demand for corrosion inhibitors will persist, making it a vital component of asset protection and safety measures in the country. Meeting this demand will require innovative corrosion inhibitor technologies tailored to the specific challenges posed by Brazil’s diverse industrial landscape and environmental conditions.
Major companies operating in South America Corrosion Inhibitors Market are:
- Henkel Ibérica, S.A.
- Nouryon Chemicals Argentina SAU
- Eastman Chemical do Brasil Ltda.
- Lanxess Industry Chemicals and Plastics
- Clariant S.A.
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“Corrosion represents a ubiquitous threat, impacting industries ranging from oil and gas, automotive, and construction to aerospace, marine, and manufacturing. The market’s growth is underpinned by several key factors, including the ever-expanding industrial landscape, increasing investments in infrastructure development, and stringent regulations governing asset integrity and environmental protection. Furthermore, corrosion inhibitors are crucial for enhancing the durability of vehicles and extending their lifespan, especially in regions exposed to harsh environmental conditions creates a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“South America Corrosion Inhibitors Market, By Type (Water based, Oil/Solvent based, Vapour based), By Composition (Organic, Inorganic), By Application (Power Generation, Oil & Gas Refinery, Metalwork & Mining, Others), By Country, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of South America Corrosion Inhibitors Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in South America Corrosion Inhibitors Market.
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Table of Content-South America Corrosion Inhibitors Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Impact of COVID-19 of South America Corrosion Inhibitors Market
- South America Corrosion Inhibitors Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Water based, Oil/Solvent based, Vapour based)
6.2.2. By Composition (Organic, Inorganic)
6.2.3. By Application (Power Generation, Oil & Gas Refinery, Metalwork & Mining, Others)
6.2.4. By Country (France, Germany, United Kingdom, Spain, Italy, Russia, Netherlands, Switzerland, Sweden, Denmark)
6.2.5. By Company (2022)
6.3. Market Map
6.3.1. By Type
6.3.2. By Composition
6.3.3. By Application
6.3.4. By Country
- France Corrosion Inhibitors Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Composition
7.2.3. By Application