Corrosion Inhibitor for Refining Market Revenue was valued at USD 2.4 Billion in 2024 and is estimated to reach USD 3.9 Billion by 2033, growing at a CAGR of 5.6% from 2026 to 2033.
The global Corrosion Inhibitor for Refining Market was valued at approximately USD 3.1 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. The increasing demand for corrosion inhibitors in refining processes across various regions is contributing to the market's growth. North America held the largest share of the market in 2022, with a market size of USD 1.2 billion, driven by significant investments in the refining and petrochemical sectors. Europe and Asia-Pacific also accounted for substantial shares of the market, with Europe reaching USD 800 million and the Asia-Pacific region experiencing rapid growth, reaching a market value of USD 500 million in 2022. The rising focus on the maintenance of refining infrastructure and the growing trend of implementing stringent environmental regulations further support the demand for corrosion inhibitors in the region.
In terms of growth opportunities, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period, with an anticipated CAGR of 6.3%. The region’s expanding refining capacities, particularly in countries like China and India, are driving the demand for corrosion inhibitors. Additionally, the Middle East, with its large-scale oil refining infrastructure, presents significant opportunities for market expansion, with a market size of approximately USD 400 million in 2022. Increasing investments in refining and petrochemical industries in emerging markets, coupled with the growing focus on eco-friendly corrosion inhibition solutions, will likely further drive the growth of the global corrosion inhibitor market in the coming years.
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BASF
Nalco Company
SUEZ Water Technologies & Solutions
Cestoil
Dorf Ketal Chemicals
Clariant
Arkema
GE(Baker Hughes)
Evonik Industries
Dow
GPXC
Jiangsu Taihu New Materials
Xingyun Chem
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Corrosion Inhibitor for Refining Market
Organic Corrosion Inhibitors
Inorganic Corrosion Inhibitors
Volatile Corrosion Inhibitors (VCIs)
Green Corrosion Inhibitors
Upstream Refining Processes
Midstream Refining Processes
Downstream Refining Processes
Petrochemical Processing
Petroleum and Oil Industry
Chemical Processing Industry
Manufacturing Industry
Power Generation
Water-Based Corrosion Inhibitors
Solvent-Based Corrosion Inhibitors
Emulsions and Concentrates
Aerosol Formulations
Film-Forming Inhibitors
Passivators
Electrochemical Inhibitors
Coating Inhibitors
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Corrosion Inhibitor for Refining Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Corrosion Inhibitor for Refining Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Corrosion Inhibitor for Refining Market, By Type
6. Global Corrosion Inhibitor for Refining Market, By Application
7. Global Corrosion Inhibitor for Refining Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Corrosion Inhibitor for Refining Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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