INHIBITING COR­RO­SION

Power gen­er­a­tion re­mains the dom­i­nant sec­tor ac­count­ing for 29.8% of the over­all mar­ket for cor­ro­sion in­hibitors

Utilities Middle East - - CONTENTS -

The GCC cor­ro­sion in­hibitors mar­ket is ex­pected to show sig­nif­i­cant growth over the next few years, ow­ing to ris­ing me­tal pro­cess­ing, power gen­er­a­tion, and con­struc­tion sec­tor

The re­gion’s cor­ro­sion in­hibitors mar­ket is ex­pected to show sig­nif­i­cant growth over the next few years, ow­ing to ris­ing me­tal pro­cess­ing, power gen­er­a­tion, and con­struc­tion sec­tor.

Ac­cord­ing to the World Cor­ro­sion Or­ga­ni­za­tion, the an­nual cost of cor­ro­sion world­wide is es­ti­mated at $2.2 tril­lion, more than 3% of the world’s gross do­mes­tic prod­uct (GDP).

Cor­ro­sion in­hibitors have been gain­ing pop­u­lar­ity over the past few years, as it in­creases the ser­vice life of equip­ment by form­ing a pro­tec­tive layer on the sur­face. The global mar­ket for cor­ro­sion in­hibitors stood at $5.99bn in 2015.

In­creas­ing ap­pli­ca­tion in wa­ter treat­ment, power gen­er­a­tion, re­fin­ing, con­struc­tion and min­ing in­dus­tries will stim­u­late prod­uct de­mand over the next eight years.

Rapid ur­ban­i­sa­tion along with in­dus­tri­al­i­sa­tion in in the GCC will fuel con­struc­tion in­dus­try, which will spur prod­uct de­mand over the next few years. Grow­ing use of cor­ro­sion in­hibitors as they re­duce main­te­nance costs of the equip­ment will cre­ate im­mense po­ten­tial for growth.

Power gen­er­a­tion re­mains the dom­i­nant sec­tor ac­count­ing for 29.8% of the over­all mar­ket for cor­ro­sion in­hibitors. Grow­ing govern­ment in­vest­ments for power gen­er­a­tion projects to sat­isfy grow­ing en­ergy needs is ex­pected drive de­mand.

More­over, gen­er­a­tion of en­ergy by con­sum­ing re­new­able sources in­clud­ing wind, so­lar, and hy­dro is ex­pected to act as a key fac­tor for the in­dus­try ex­pan­sion.

Wa­ter-based cor­ro­sion in­hibitor was val­ued at $4.49bn in 2015 and will wit­ness sig­nif­i­cant gains over the next eight years par­tic­u­larly in wa­ter treat­ment on ac­count of lower volatile or­ganic con­tent (VOC) emis­sions as com­pared to sol­vent­based ap­pli­ca­tions.

In ad­di­tion, they are eco­nom­i­cal; turn trans­par­ent on dry­ing; can be ap­plied us­ing a va­ri­ety of meth­ods in­clud­ing brush, spray, or im­mer­sion; and can be eas­ily re­moved us­ing wa­ter­based clean­ers be­fore sub­se­quent op­er­a­tions.

The in­creas­ing re­quire­ment for in­dus­trial and do­mes­tic wa­ter in var­i­ous sec­tors in­clud­ing chem­i­cals, med­i­cal, and elec­tron­ics is ex­pected to drive in­dus­try de­vel­op­ment. In­creas­ing prod­uct us­age by wa­ter treat­ment plants as

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