NEW YORK, Aug. 21, 2021 /PRNewswire/ — According to Technavio, the corrosion inhibitors market estimates a market value of USD 2.98 billion during 2021-2025. The report offers a detailed analysis of the COVID-19 impact on the market and the new opportunities that market players can expect. In addition, the report projects the market to progress at a CAGR of 4.10%.
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Corrosion Inhibitors Market: Rising investments in power sector to drive growth
The rising investments in the power sector is notably driving the corrosion inhibitors market growth, although factors such as smart coatings replacing corrosion inhibitors may impede market growth. This post-pandemic corrosion inhibitors market report has assessed the shift in consumer behavior and identified and explored the upcoming trends, drivers, and challenges that will have a far-reaching effect on the market growth.
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As per Technavio, the increasing urbanization and industrialization in APAC will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
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Corrosion Inhibitors Market: Segmentation Analysis
This market research report segments the corrosion inhibitors market by End-user (Power generation, Oil and gas, Pulp and paper, Metal processing, and Water treatment and others), Type (Precipitation inhibitors, Passivity inhibitors, and Other inhibitors), and Geography (APAC, North America, Europe, MEA, and South America).
China and India are the key markets for corrosion inhibitors in APAC. 42% of the market’s growth will originate from APAC during the forecast period. APAC has been recording a significant growth rate and is expected to offer several business opportunities to market vendors during the forecast period. One of the key factors driving the growth in APAC is increasing urbanization and industrialization in APAC.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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