Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 2,289.18 Million

CAGR (2023-2028)

5.10%

Fastest Growing Segment

Oil & Gas Refinery

Largest Market

China


Market Overview

The Asia-Pacific Corrosion Inhibitors Market was valued at USD 2,289.18 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.10% through 2028. Corrosion inhibitors play a pivotal role in protecting metals and alloys from the adverse effects of corrosion, a natural process that leads to the deterioration of materials due to chemical interactions with their surroundings. Corrosion is a persistent and costly challenge affecting various industries, including transportation, infrastructure, and the oil and gas sector. Corrosion inhibitors are specifically formulated chemical compounds designed to mitigate or entirely prevent this widespread issue. These compounds operate by disrupting the electrochemical reactions that initiate corrosion, often by creating a protective barrier on the metal's surface. This barrier can manifest as a physical film that isolates the metal from the corrosive environment or as a chemical alteration of the surface, rendering it less susceptible to corrosion. These combined factors are significant drivers behind the expected growth of the Asia-Pacific Corrosion Inhibitors Market in the forecast period.

Key Market Drivers

Raising Demand of Corrosion Inhibitors in the Power Generation Sector

The power generation sector is the backbone of modern society, providing the essential energy required to power homes, industries, and economies. Within this critical industry, the battle against corrosion is an ongoing challenge. Corrosion, the gradual deterioration of materials due to chemical reactions with the environment, presents formidable obstacles to power generation infrastructure. To combat this threat and ensure the reliability and safety of power generation facilities, there has been a significant increase in the demand for corrosion inhibitors. One primary application of corrosion inhibitors in the power generation sector is the protection of boilers and heat exchangers. These crucial components endure harsh conditions, including high temperatures and pressures, making them susceptible to corrosion. Corrosion inhibitors, often introduced into feedwater or steam, create a protective layer on metal surfaces, thus preventing corrosive reactions. This fortifies the structural integrity of boilers and heat exchangers, prolonging their operational lifespan and reducing costly downtime.

Furthermore, power generation facilities heavily rely on cooling water systems to dissipate excess heat generated during the energy production process. These systems, including cooling towers and condensers, face corrosion risks due to constant exposure to water and air. Corrosion inhibitors are introduced into cooling water systems to counteract scale formation and corrosion, ensuring efficient heat transfer and optimal performance of these critical components. Steam turbines, crucial in power generation, convert thermal energy into mechanical energy. Operating within high-temperature, high-pressure environments, the blades, and components of steam turbines are susceptible to corrosion. Corrosion inhibitors are used to safeguard these essential elements, ensuring their durability and dependable operation. Without effective corrosion protection, steam turbine efficiency would decline, resulting in reduced power output and increased maintenance costs.

Moreover, in power generation, the storage and delivery systems for fuels play a fundamental role in the energy production process. Corrosion inhibitors are employed to shield these systems, which may be vulnerable to corrosion caused by moisture or chemical reactions. Effective corrosion prevention ensures a continuous fuel supply to power plants, preventing disruptions and sustaining energy production. Power generation facilities also rely heavily on electrical infrastructure to facilitate efficient energy transmission. Electrical components and wiring are prone to corrosion, especially in harsh environmental conditions. Corrosion inhibitors are used to protect these critical elements, ensuring the reliability and safety of electrical systems. Without corrosion protection, electrical failures can lead to power outages and safety hazards. In nuclear power plants, which generate energy through controlled nuclear reactions, stringent safety requirements are imposed. Corrosion inhibitors are indispensable in these facilities to prevent corrosion-related failures in critical components. The consequences of corrosion in nuclear power plants can be catastrophic, highlighting the crucial need for effective corrosion prevention measures. Hydropower, a renewable energy source dependent on water flow for electricity generation, includes components such as dams, turbines, and underwater infrastructure, all exposed to water and susceptible to corrosion. Corrosion inhibitors are deployed to protect these components, ensuring uninterrupted generation of clean and sustainable energy. Consequently, the increasing demand for corrosion inhibitors in power generation from various sources is contributing to the growth of the Asia-Pacific Corrosion Inhibitors Market.

Growing Demand from Oil & Gas Industry  

The oil and gas industry, which serves as the backbone of the global economy, is responsible for supplying the essential energy resources required for a wide range of applications, including transportation and electricity generation. However, the processes involved in extracting, producing, and transporting oil and gas are fraught with inherent challenges, with one of the most persistent being the issue of corrosion. Within the oil and gas sector, corrosion poses substantial risks, including equipment failures, leaks, and environmental hazards, which in turn endanger both human safety and the environment. To address these risks and ensure the reliable performance of operations, there has been a remarkable surge in the demand for corrosion inhibitors in this pivotal industry. The journey of oil and gas begins beneath the Earth's surface, within the wellbore, where drilling and production operations are conducted. The harsh and corrosive subterranean environment can rapidly degrade wellbore equipment and infrastructure.

Corrosion inhibitors are introduced into the wellbore to safeguard crucial components such as tubing, casings, and downhole tools. These inhibitors establish a protective film on metal surfaces, thereby preventing corrosive interactions with the surrounding fluids. By upholding the integrity of wellbore equipment, corrosion inhibitors facilitate the efficient extraction of hydrocarbons and extend the lifespan of oil and gas wells. Following extraction, oil and gas must traverse lengthy distances via pipelines to reach processing facilities and end-users. Pipelines are susceptible to corrosion due to their constant exposure to moisture, gases, and contaminants. Corrosion inhibitors are employed in pipeline coatings and as additives to the transported product to counteract both internal and external corrosion. These inhibitors inhibit the formation of corrosion cells and safeguard the structural soundness of pipelines, thereby minimizing the risk of leaks and ensuring the secure and efficient conveyance of oil and gas.

Furthermore, refineries represent the heart of the oil and gas industry, where crude oil undergoes processing to yield valuable products such as gasoline, diesel, and petrochemicals. Refineries houses intricate and interconnected equipment that operates under harsh conditions, making corrosion a persistent threat. Throughout the refining process, corrosion inhibitors are deployed to protect vital components, including heat exchangers, distillation columns, and storage tanks. These inhibitors extend the operational life of equipment, reduce maintenance expenses, and guarantee uninterrupted refinery operations.

Additionally, oil and gas storage tanks fulfill a critical role within the industry, serving as a buffer to accommodate fluctuations in production and demand. These tanks are exposed to a range of environmental conditions, including temperature fluctuations and moisture. Corrosion inhibitors are employed to safeguard the inner surfaces of storage tanks, preventing the formation of rust and ensuring the quality and integrity of stored products. This corrosion prevention is particularly crucial for tanks containing valuable or hazardous materials.

Moreover, enhanced oil recovery (EOR) techniques, such as water flooding and chemical injection, are employed to maximize oil production from mature reservoirs. Corrosion inhibitors play an integral role in EOR operations, shielding injection and production wells from corrosion induced by injected fluids and chemical agents. Effective corrosion management is pivotal for the success of EOR projects, as it prolongs the productive life of oilfields. Consequently, the numerous advantages of corrosion inhibitors are expected to fuel the demand for the Asia-Pacific Corrosion Inhibitors Market in the forecast period.

Rising Demand in the Metalwork and Mining Sectors

In the constantly evolving fields of metalwork and mining, industries that encompass the extraction, processing, and shaping of materials critical for global advancement, the importance of corrosion management cannot be overstated. Corrosion stands as a persistent adversary, quietly eroding vital equipment, machinery, and structures, leading to expensive repairs, downtime, and environmental risks. To confront this formidable challenge, there has been a noticeable increase in the demand for corrosion inhibitors in the metalwork and mining sectors, underscoring their indispensable role in protecting the heart of industrial operations. Mining operations inherently present challenges, subjecting equipment to harsh conditions, abrasive materials, and moisture. Corrosion inhibitors play a pivotal role in safeguarding the essential components of mining machinery, including crushers, conveyors, and drill rigs.

These inhibitors create a protective barrier on metal surfaces, shielding them from the corrosive effects of abrasive materials and exposure to water. By extending the operational lifespan of equipment and reducing maintenance-related downtime, corrosion inhibitors contribute to increased efficiency and cost-effectiveness in mining operations. The transportation of mined materials from remote mining sites to processing facilities or distribution centers often involves the use of pipelines. These pipelines are susceptible to corrosion due to the abrasive nature of their contents, which can include ores, slurries, or chemicals. Corrosion inhibitors are employed to counteract the deterioration of pipeline integrity, reducing the risk of leaks and ensuring the safe and efficient conveyance of valuable resources. In the realm of mining operations, where material transportation frequently covers extensive distances, the role of corrosion inhibitors in preserving pipeline integrity proves pivotal.

Furthermore, milling and smelting are foundational processes within the mining industry, involving the crushing, grinding, and refining of ore to extract valuable metals. The machinery and infrastructure central to these processes are exposed to aggressive chemicals and high-temperature conditions, rendering them susceptible to corrosion. Corrosion inhibitors are deployed to safeguard critical components, such as crushers, ball mills, and smelting furnaces. By preventing corrosion-related failures and optimizing operational uptime, these inhibitors contribute to the efficient processing of raw materials. Mining activities generate significant volumes of waste materials, known as tailings, requiring containment and management. Tailings storage facilities (TSFs) are substantial structures designed to securely store these waste materials. Corrosion inhibitors play a pivotal role in preserving the structural integrity of TSFs by preventing corrosion within the containment liners and structures. Effective corrosion control ensures the stability and environmental safety of TSFs, mitigating the risk of catastrophic failures and the resulting environmental consequences. Consequently, these factors are poised to exert a significant influence on the growth of the Asia-Pacific Corrosion Inhibitors Market in the forecast period.

 

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Key Market Challenges

Safety Concerns and Cost Pressure

The secure storage, proper handling, and responsible disposal of corrosion inhibitors are of utmost importance, given that these compounds may contain chemicals that can pose potential risks to human health and safety if mishandled. Additionally, there is a growing demand for corrosion inhibitors with improved safety profiles, ensuring the well-being of both workers and the environment. Effectively addressing safety concerns is crucial for the market's expansion. Alongside safety considerations, the current economic environment exerts significant pressure on industries to manage costs while sustaining optimal performance levels. Corrosion inhibitors face the challenge of striking a delicate balance between effectiveness and cost-efficiency. This challenge underscores the essential need to develop cost-effective formulations capable of meeting stringent corrosion protection requirements across various sectors, ranging from oil and gas to infrastructure.

Technological Complexity

The field of corrosion inhibition is characterized by its complex technological nature. As industries continue to evolve, there is an increasing demand for corrosion inhibitors that incorporate advanced features such as intelligent monitoring and solutions based on nanotechnology. To remain competitive, manufacturers must allocate resources to research and development to ensure that their products stay in line with these technological advancements.

Furthermore, different industries face unique corrosion-related challenges, leading to a rising need for customized corrosion inhibitors tailored to their specific requirements. This growing demand for application-specific corrosion inhibitors necessitates manufacturers to invest in research and development efforts focused on creating solutions that address the distinct needs of various sectors. Customization introduces additional complexities into product development and marketing strategies.

Moreover, continuous investments in research and development aimed at developing new applications and improving product performance have a significant impact on the production costs of corrosion inhibitors. Additionally, due to the potentially hazardous nature of these products, adherence to stringent safety measures, including the use of specialized equipment and safety protocols, is crucial during the production process. These safety-related expenditures contribute to the overall increase in production costs. Furthermore, the involvement of skilled labor in product manufacturing adds to production expenses. Skilled workers are essential for maintaining precise chemical concentrations in solutions, resulting in products with exceptional resistance to localized corrosion or pitting attacks. These factors collectively contribute to the rising production costs, which, in turn, can hinder market growth.

Key Market Trends

Green and Sustainable Solutions

One prominent trend in the corrosion inhibitors market is the increasing focus on environmentally friendly and sustainable solutions. The implementation of stringent environmental regulations and corporate sustainability initiatives has driven industries to actively seek more eco-friendly alternatives. As a result, manufacturers are now dedicating their efforts to developing corrosion inhibitors that not only demonstrate high efficacy but also possess environmentally friendly characteristics. Green inhibitors are gaining significant traction due to their reduced environmental impact and alignment with stringent regulatory requirements.

Furthermore, nanotechnology is revolutionizing the corrosion inhibitors landscape. By harnessing the unique properties of nanoparticles, researchers and manufacturers are creating highly effective inhibitors that offer superior protection against corrosion. These advanced nanomaterials can penetrate microcracks and provide enhanced coverage, making them especially suitable for challenging applications in industries such as oil and gas and marine. The integration of IoT (Internet of Things) technology and sensors has ushered in the era of smart corrosion monitoring. Real-time tracking of corrosion rates enables proactive maintenance and targeted application of corrosion inhibitors. This emerging trend not only enhances the overall efficiency of corrosion prevention measures but also reduces costs associated with reactive maintenance procedures.

Growing Infrastructure Investments

On a large scale, there has been a noticeable increase in infrastructure development, encompassing projects such as bridges, pipelines, and buildings. This surge in construction activities is a significant driver for the corrosion inhibitors market. With both governments and private entities directing investments into infrastructure upgrades, there is a growing need for highly effective corrosion protection solutions to extend the lifespan of these critical assets.

Furthermore, the maritime industry faces unique challenges due to the corrosive nature of seawater. As the shipping sector continues to expand, and regulations governing vessel emissions become more stringent, the demand for corrosion inhibitors to safeguard ship components, tanks, and offshore structures is steadily increasing. The industry is actively seeking corrosion inhibitors capable of withstanding the harsh marine environment, making them highly sought after. Innovation remains a cornerstone of the corrosion inhibitors market. Companies are making substantial investments in research and development to create innovative formulations and technologies. This includes exploring novel materials, conducting rigorous testing of advanced coatings, and fine-tuning inhibitor formulations tailored for specific applications.

Segmental Insights

Type Insights

Based on the type, the water based segment is expected to register the highest growth of 5.26% during the forecast period 2024-2028. Water-based corrosion inhibitors present numerous advantages that position them as the preferred option in various industries. Firstly, their environmentally friendly characteristics result in minimal harm to ecosystems and human health in comparison to their solvent-based counterparts. Water-based inhibitors also align with strict environmental regulations by reducing the emission of volatile organic compounds (VOCs). Their low toxicity and non-flammable properties enhance workplace safety, effectively reducing the risk of accidents.

Furthermore, water-based formulations demonstrate versatility, as they can be readily mixed and applied, enhancing cost-effectiveness and convenience in industrial processes. Moreover, they excel in providing corrosion protection by establishing a robust protective barrier on metal surfaces, resulting in extended equipment lifespan and reduced maintenance expenses. Water-based corrosion inhibitors are especially well-suited for systems exposed to water, including cooling systems and pipelines, thereby promoting sustainable and responsible corrosion control practices. In essence, these inhibitors seamlessly integrate effective corrosion protection with environmental responsibility, making them invaluable assets across a diverse range of industries.

Composition Insights

Based on the composition, the organic segment is expected to register the highest growth of 5.56% during the forecast period 2024-2028. Organic-type corrosion inhibitors offer numerous advantages that make them indispensable in the ongoing battle against corrosion. To begin with, their environmentally friendly characteristics, often characterized by biodegradability and reduced toxicity compared to other inhibitor types, align perfectly with the growing emphasis on sustainability and eco-friendly practices across various industries. Organic inhibitors demonstrate exceptional versatility and compatibility with a wide range of materials and systems, making them suitable for diverse applications, from industrial processes to the marine and automotive sectors. Their ability to form a protective film on metal surfaces plays a pivotal role in reducing corrosion rates, ultimately extending the lifespan of critical equipment and structures.

Furthermore, organic inhibitors are renowned for their long-lasting protection, reducing the need for frequent reapplication and, as a result, lowering maintenance costs. Additionally, they prove effective across a broad range of temperatures and pH levels, ensuring reliable corrosion protection even in diverse and challenging environmental conditions. Therefore, organic-type corrosion inhibitors seamlessly combine effectiveness, environmental responsibility, and versatility, establishing themselves as the preferred choice for industries seeking robust and sustainable corrosion control solutions.

Application Insights

Based on the application, the oil & gas refinery segment is expected to register the fastest growth of 6.25% during the forecast period, 2024-2028. Corrosion inhibitors play a pivotal and enduring role in the oil and gas refinery industry, where the ongoing battle against corrosion is a constant and critical challenge. Refineries, by their very nature, are intricate and demanding environments that subject their equipment and pipelines to a combination of harsh factors, including aggressive chemicals, high temperatures, and moisture levels. These conditions can accelerate the corrosion process, posing significant risks. To counteract this formidable adversary, both organic and inorganic corrosion inhibitors are introduced into the refining process. Their primary function is to create protective layers on metal surfaces, effectively acting as shields against the harmful effects of corrosive agents.

In the context of pipelines, these inhibitors play a vital role in mitigating the potential for internal corrosion, a concern heightened by the corrosive nature of hydrocarbons and water content. Within the domain of storage tanks, corrosion inhibitors prove invaluable in preventing the deterioration of tank walls and bottoms. In doing so, they safeguard valuable assets while minimizing the risk of leaks or spills. Moreover, these inhibitors contribute to extending the operational lifespan of critical refining equipment, such as heat exchangers and distillation columns, thereby reducing downtime and curtailing maintenance costs. As the oil and gas industry continues to undergo transformation and evolution, the use of corrosion inhibitors remains an indispensable practice. These inhibitors are essential in ensuring the safety, efficiency, and sustainability of refinery operations, reinforcing their enduring significance within this vital sector.

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Country Insights

China will witness fastest growth during the forecast period, 2024-2028. The demand for corrosion inhibitors in China has been on a significant upward trajectory in recent years, driven by the country's rapid industrialization and infrastructure development. As China continues to expand its industrial sectors, such as oil and gas, petrochemicals, construction, and manufacturing, there is a growing need to protect critical equipment, structures, and pipelines from the corrosive effects of harsh operating environments. Corrosion poses a substantial economic burden on industries, leading to costly repairs, maintenance, and downtime. Therefore, Chinese industries are increasingly recognizing the value of corrosion prevention and mitigation, which has fueled the demand for corrosion inhibitors. In particular, China's vast network of pipelines, both for the transportation of oil and gas and for water distribution, requires effective corrosion protection to ensure the integrity and safety of these crucial assets. The country's expanding maritime industry, which includes shipbuilding and offshore oil exploration, also relies heavily on corrosion inhibitors to combat the corrosive effects of seawater. Additionally, the construction boom in China has led to the creation of numerous infrastructure projects, such as bridges, buildings, and transportation systems, all of which necessitate corrosion protection to ensure their long-term durability.

Furthermore, as environmental regulations become more stringent in China, industries are seeking environmentally friendly corrosion inhibitor solutions that comply with sustainability and safety standards. The awareness of the environmental impact of industrial processes has led to a shift towards green and sustainable corrosion prevention practices. China's robust manufacturing sector, which produces a wide range of goods for both domestic consumption and export, requires corrosion protection for machinery and equipment. This sector's growth further contributes to the demand for corrosion inhibitors.

Recent Developments

  • In April 2023, Dai-ichi Karkaria Limited developed and manufactured high-performance specialty chemicals for various applications.
  • In September 2019, Vappro Corrosion Control announced the launch of our first long term coating impregnated with a Vapour Corrosion Inhibitor (VCI).

Key Market Players

  • Johoku Chemical Co., Ltd
  • Eastman Chemical (Malaysia) Sdn. Bhd.
  • Dai-ichi India Pvt Ltd
  • Vappro Corrosion Control Australia Pty Ltd
  • Clariant India Ltd
  • Dorfketal Chemicals (I) Pvt. Ltd.

By Type

By Composition

By Application

By Country

  • Water based
  • Oil/Solvent based
  • Vapour based
  • Organic
  • Inorganic
  • Power Generation
  • Oil & Gas Refinery
  • Metalwork & Mining
  • Others 
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Thailand
  • Indonesia
  • Vietnam
  • Malaysia
  • Singapore
Report Scope:

In this report, the Asia-Pacific Corrosion Inhibitors Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Asia-Pacific Corrosion Inhibitors Market, By Type:

o   Water based

o   Oil/Solvent based

o   Vapour based

  • Asia-Pacific Corrosion Inhibitors Market, By Composition:

o   Organic

o   Inorganic

  • Asia-Pacific Corrosion Inhibitors Market, By Application:

o   Power Generation

o   Oil & Gas Refinery

o   Metalwork & Mining

o   Others

  • Asia-Pacific Corrosion Inhibitors Market, By Country:

o   China

o   India

o   Japan

o   South Korea

o   Australia

o   Thailand

o   Indonesia

o   Vietnam

o   Malaysia

o   Singapore

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Asia-Pacific Corrosion Inhibitors Market.

Available Customizations:

The Asia-Pacific Corrosion Inhibitors Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Asia-Pacific Corrosion Inhibitors Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]                

Table of content

1.    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

2.    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

3.    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

4.    Voice of Customer

5.    Impact of COVID-19 of Asia-Pacific Corrosion Inhibitors Market

6.    Asia-Pacific 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 (China, India, Japan, South Korea, Australia, Thailand, Indonesia, Vietnam, Malaysia, Singapore)

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

7.    China 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

8.    India Corrosion Inhibitors Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Composition

8.2.3.    By Application

9.    Japan Corrosion Inhibitors Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Composition

9.2.3.    By Application

10. South Korea Corrosion Inhibitors Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value & Volume

10.2.             Market Share & Forecast

10.2.1. By Type

10.2.2. By Composition

10.2.3. By Application

11. Australia Corrosion Inhibitors Market Outlook

11.1.             Market Size & Forecast        

11.1.1. By Value & Volume

11.2.             Market Share & Forecast

11.2.1. By Type

11.2.2. By Composition

11.2.3. By Application

12. Thailand Corrosion Inhibitors Market Outlook

12.1.             Market Size & Forecast        

12.1.1. By Value & Volume

12.2.             Market Share & Forecast

12.2.1. By Type

12.2.2. By Composition

12.2.3. By Application

13. Indonesia Corrosion Inhibitors Market Outlook

13.1.             Market Size & Forecast        

13.1.1. By Value & Volume

13.2.             Market Share & Forecast

13.2.1. By Type

13.2.2. By Composition

13.2.3. By Application

14. Vietnam Corrosion Inhibitors Market Outlook

14.1.             Market Size & Forecast        

14.1.1. By Value & Volume

14.2.             Market Share & Forecast

14.2.1. By Type

14.2.2. By Composition

14.2.3. By Application

15. Malaysia Corrosion Inhibitors Market Outlook

15.1.             Market Size & Forecast        

15.1.1. By Value & Volume

15.2.             Market Share & Forecast

15.2.1. By Type

15.2.2. By Composition

15.2.3. By Application

16. Singapore Corrosion Inhibitors Market Outlook

16.1.             Market Size & Forecast        

16.1.1. By Value & Volume

16.2.             Market Share & Forecast

16.2.1. By Type

16.2.2. By Composition

16.2.3. By Application

17. Market Dynamics

17.1.             Drivers

17.2.             Challenges

18. Market Trends & Developments

19. Asia-Pacific Corrosion Inhibitors Market: SWOT Analysis

20. Porter’s Five Forces Analysis

20.1.             Competition in the Industry

20.2.             Potential of New Entrants

20.3.             Power of Suppliers

20.4.             Power of Customers

20.5.             Threat of Substitute Products

21. Competitive Landscape

21.1.             Johoku Chemical Co., Ltd

21.1.1. Business Overview

21.1.2. Form Offerings

21.1.3. Recent Developments

21.1.4. Financials (In Case of Listed Companies)

21.1.5. Key Personnel

21.2.             Eastman Chemical (Malaysia) Sdn. Bhd.

21.2.1. Business Overview

21.2.2. Form Offerings

21.2.3. Recent Developments

21.2.4. Financials (In Case of Listed Companies)

21.2.5. Key Personnel

21.3.             Dai-ichi India Pvt Ltd

21.3.1. Business Overview

21.3.2. Form Offerings

21.3.3. Recent Developments

21.3.4. Financials (In Case of Listed Companies)

21.3.5. Key Personnel

21.4.             Vappro Corrosion Control Australia Pty Ltd

21.4.1. Business Overview

21.4.2. Form Offerings

21.4.3. Recent Developments

21.4.4. Financials (In Case of Listed Companies)

21.4.5. Key Personnel

21.5.             Clariant India Ltd

21.5.1. Business Overview

21.5.2. Form Offerings

21.5.3. Recent Developments

21.5.4. Financials (In Case of Listed Companies)

21.5.5. Key Personnel

21.6.             Dorfketal Chemicals (I) Pvt. Ltd.

21.6.1. Business Overview

21.6.2. Form Offerings

21.6.3. Recent Developments

21.6.4. Financials (In Case of Listed Companies)

21.6.5. Key Personnel

21. Strategic Recommendations

Figures and Tables

Frequently asked questions

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The market size of the Asia-Pacific Corrosion Inhibitors Market is anticipated to be USD 2,289.18 Million in 2022.

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Water based is the dominant type in the Asia-Pacific Corrosion Inhibitors Market accounting for a share of 76.31% in 2022.

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Power generation is the dominant form in the Asia-Pacific Corrosion Inhibitors Market accounting for a share of 28.67% in 2022.

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Surging utilization in the power generation and oil & gas refinery sector are the major drivers for the Asia-Pacific Corrosion Inhibitors Market.

profile

Sakshi Bajaal

Business Consultant
Press Release

Asia-Pacific Corrosion Inhibitors Market to Grow with a CAGR of 5.10 % through 2028

Oct, 2023

Surging utilization in the power generation and oil & gas refinery sector are the major driver of the Asia-Pacific Corrosion Inhibitors Market in the forecast period 2024-2028