Analysis of Anti-Corrosive Agents Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Revenue from the global anti-corrosive agents market is estimated to reach US$ 7.6 million in 2024. The market is analyzed to rise at a CAGR of 7% to reach US$ 14.9 million by the end of 2034.
The need for anti-corrosion coatings with better properties and efficiency has arisen from changes in operating conditions in end-use industries, including oil and gas and marine. For instance, there is a growing need for coatings that endure high temperatures and pressures while providing long-term structural protection due to the increased use of enhanced oil recovery (EOR) techniques in the oil and gas sector.
The oil and gas, maritime, and infrastructure sectors' need for high-solid anti-corrosion coatings has sparked research and development efforts to create these coatings, which are suitable for usage in harsh conditions. Although it is now a short-term driver, this develops into a long-term driver for the anti-corrosion coating sector.
The anti-corrosion coating market in the East Asia region is analyzed to develop at a noteworthy rate over the forecast period. The region is recognized for having led the way in economic development, with significant investments coming from this region in the automotive and transportation, infrastructure, power generation, and industrial sectors.
The market with the most promise is Asia Pacific and is projected to hold the same dominating position in the coming decade. In addition, global firms are moving their production sites to the Asia-Pacific region to meet local market demands and benefit from lower labor costs.
For applicators seeking the greatest versatility, PPG introduced AMERLOCK 600 multifunctional epoxy paint in March 2022. The AMERLOCK coatings line is renowned for providing superior corrosion protection in challenging conditions.
PPG Industries introduced a PPG HI-TEMP 1027 HD corrosion prevention coating in North America in February 2021. The device finds application in several domains, including oil and gas, chemical processing, power generation, and businesses dependent on insulated pipes, such as steel and paper mills.
| Report Attribute | Detail |
|---|---|
| Anti-Corrosive Agents Market Size (2024E) | US$ 7.6 Million |
| Forecasted Market Value (2034F) | US$ 14.9 Million |
| Global Market Growth Rate (2024 to 2034) | 7% CAGR |
| East Asia Market Share (2024E) | 33.4% |
| United States Growth Rate (2024 to 2034) | 7% CAGR |
| Demand from Oil & Natural Gas Industry (2024E) | US$ 1.5 Million |
| Key Companies Profiled | BASF SE; The Sherwin-Williams Company; AkzoNobel N.V.; The Dow Chemical Company; Kao Corporation; Setral Chemie GmbH; Ascotran; ZET-Chemie; KL-Lampo; Wigol W. Stache GmbH; Aerosol Specialists Sdn. Bhd.; PPG Industries, Inc.; Kansai Paints Co., Ltd. |
Anti-corrosive agents decrease the corrosion rate when added to a solvent, be it liquid or gas. Anti-corrosive agents form a layer around the substrate, which resists other chemicals and corrosion-causing agents that come in contact with the substrate layer. Anti-corrosive agents are used in various industries in the form of coatings, adhesives, sealants, or other forms, depending upon the end-use industry.
Anti-corrosive agents are oil-based, water-soluble, glycol-based, and in other forms depending upon the nature of the application of anti-corrosive agents. Water-based anti-corrosive agents protect metal surfaces, such as iron, aluminum, copper alloys, etc. against corrosion. Oil-based anti-corrosive agents have applications in plastic injection molds, steel, electric products, and iron & copper alloys.
Glycol-based anti-corrosive agents have applications in cooling systems, condensing systems, heat recovery systems, street heating, and snow melting systems. Anti-corrosive agents are used in coatings in the automotive industry. Some anti-corrosive agents provide temporary corrosion protection, owing to which these anti-corrosive agents are used in injection molds. Injection molds are used for the production of plastic parts in the food industry.
Anti-corrosive agents have a wide range of applications in several end-use industries, especially in paints & coatings and the steel industry. The growth of paints & coatings and the steel industry is expected to drive the anti-corrosive agents market shortly.
Oil and natural gas industries encounter corrosion problems at various stages, which is also driving the anti-corrosive agents market in the coming years. The sales of anti-corrosive agents used as temporary corrosion inhibitors are expected to register significant growth driven by the growth of the food industry.
However, a reduction in the efficiency of anti-corrosive agents due to temperature changes is likely to hamper the growth of the anti-corrosive agents market. The high life span of glycol-based anti-corrosive agents is expected to slow down the market growth of glycol-based anti-corrosive agents. The availability of alternate products, such as EonCoat, is also hampering the sales growth of anti-corrosive agents.
The North American region has witnessed steady growth in the pharmaceutical industry in recent years. The paints & coatings and oil & gas industries in the North American region are also growing at an appreciable rate. These factors are expected to boost the sales of anti-corrosive agents in the region.
Anti-corrosive agents are expected to register significant growth in the European region as well. The European region is a prominent market with growing chemical, automotive, pharmaceutical, and paints & coating industries. The growth of these industries in Europe is expected to boost the anti-corrosive agents market.
India and China are among the key developing regions with high potential for the sales of anti-corrosive agents. The growth of food, pharmaceutical, chemical, steel, and paints & coatings industries in China and India is expected to boost the sales of anti-corrosive agents shortly. The Middle East and Africa have witnessed moderate growth in the steel and chemical industry, which is expected to boost the sales of anti-corrosive agents to a certain extent.
However, the already established and growing oil & natural gas industry in the Middle East and Africa region is expected to drive the anti-corrosive agents market shortly. Latin America and APAC regions have moderately growing steel and pharmaceutical industries, which is expected to boost the anti-corrosive agents market in these regions in the coming years.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Which are the end-use industries of anti-corrosive agents?
The steel and paints & coatings industries are key end-users of anti-corrosive agents.
Why is North America leading in the global anti-corrosive agents market?
Steady growth in pharmaceutical, oil & gas, and paint & coatings industries that use anti-corrosive agents is driving growth opportunities.
Who are the top five manufacturers of anti-corrosive agents?
Ascotran, Setral Chemie GmbH, Kao Corporation, The Dow Chemical Company, and BASF SE are leading players in the global market.
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Chemistry
Table 3: Global Market US$ Mn Forecast by End Use Industry
Table 4: North America Market US$ Mn Forecast by Country
Table 5: North America Market US$ Mn Forecast by Chemistry
Table 6: North America Market US$ Mn Forecast by End Use Industry
Table 7: Latin America Market US$ Mn Forecast by Country
Table 8: Latin America Market US$ Mn Forecast by Chemistry
Table 9: Latin America Market US$ Mn Forecast by End Use Industry
Table 10: Western Europe Market US$ Mn Forecast by Country
Table 11: Western Europe Market US$ Mn Forecast by Chemistry
Table 12: Western Europe Market US$ Mn Forecast by End Use Industry
Table 13: Eastern Europe Market US$ Mn Forecast by Country
Table 14: Eastern Europe Market US$ Mn Forecast by Chemistry
Table 15: Eastern Europe Market US$ Mn Forecast by End Use Industry
Table 16: Asia Pacific Market US$ Mn Forecast by Country
Table 17: Asia Pacific Market US$ Mn Forecast by Chemistry
Table 18: Asia Pacific Market US$ Mn Forecast by End Use Industry
Table 19: East Asia Market US$ Mn Forecast by Country
Table 20: East Asia Market US$ Mn Forecast by Chemistry
Table 21: East Asia Market US$ Mn Forecast by End Use Industry
Table 22: MEA Market US$ Mn Forecast by Country
Table 23: MEA Market US$ Mn Forecast by Chemistry
Table 24: MEA Market US$ Mn Forecast by End Use Industry
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 17: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 18: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 19: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 20: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Chemistry
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Anti-Corrosive Agents Market