US Production of Oil & Gas, Chemicals to Drive Corrosion Inhibitor Demand Gains

Cleveland, OH, August 1, 2024 — US demand for corrosion inhibitors is forecast to grow 1.1% annually in volume terms through 2028, according to Corrosion Inhibitors: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from growth in oil and gas, chemicals, and metals production. In addition, evolving trends in water usage, environmental regulations, and power generation technology will continue to increase demand for higher performing products that better balance scale and corrosion control; wastewater treatment needs; and health, safety, and environmental considerations. Faster gains will be limited by a flat trend in municipal water use, falling production of refined petroleum products, and ongoing shifts favoring less water use for cooling processes in the power generation industry.

In 2024, demand for corrosion inhibitors is projected to advance 1.9% as real (inflation-adjusted) GDP is expected to increase 2.2%. Oil and gas production, the leading market, is forecast to grow 2.3%, while shipments of chemicals, the second-largest market, are expected to increase 1.7% in real terms in 2024.

These and other key insights are featured in Corrosion Inhibitors: United States. This report forecasts to 2028 US corrosion inhibitor demand in pounds. Total demand is segmented by market in terms of:

• oil and gas
• chemicals
• municipal water treatment
• petroleum refining
• metals
• fuel and lubricant additives
• power generation
• pulp and paper
• other markets such as cement and concrete, food and beverages, and textiles

 

To illustrate historical trends, total demand and the various segments are provided in annual series from 2013 to 2023.

Both water treatment corrosion inhibitors and product additives are in-scope, although anticorrosive coatings are not included. For the purposes of this report, corrosion inhibitors include chemicals that provide only corrosion protection and those that inhibit corrosion in addition to providing other functions.

More information about the report is available at:

https://www.freedoniagroup.com/freedonia-focus/corrosion-inhibitors-united-states-ff35092.htm

About Freedonia Focus Reports

Each month, The Freedonia Group publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Chemicals reports can be purchased at Freedonia Focus Reports.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

• total historical market size and industry output
• segmentation by products and markets
• identification of market drivers, constraints, and key indicators
• segment-by-segment outlook in five-year forecasts
• a survey of the supply base
• suggested resources for further study