New York, NY -- (SBWIRE) -- 10/31/2018 -- Market Introduction: Anti-corrosive agents are used to 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 are used to protect metals surfaces, such as iron, aluminium, copper alloys, etc. against corrosion. Oil-based anti-corrosive agents have applications in plastic injection moulds, 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 moulds. Injection moulds are used for the production of plastic parts in the food industry.
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Market Dynamics
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 in the near future. Oil and natural gas industries encounter corrosion problems at various stages, which is also expected to drive 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, 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 expected to hamper the sales growth of anti-corrosive agents.
Regional Outlook
The North America region has witnessed steady growth in the pharmaceutical industry in the recent years. The paints & coatings and oil & gas industries in the North America 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.
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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 in the near future. Middle East and Africa has 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 in the near future. 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.
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