Volatile Corrosion Inhibitors Market Size

Volatile Corrosion Inhibitors Market size was over USD 832.26 Billion in 2023 and is likely to cross USD 1.93 Trillion by the end of 2036, growing at more than 6.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of volatile corrosion inhibitors is estimated at USD 882.45 Billion.The primary growth driver of the market is attributed to the expansion of the construction industry. The total output of the global construction industry is forecasted to increase steadily, reaching USD 17.5 trillion by 2030. As volatile corrosion inhibitors prevent rusting and corrosion, they are considered to be an ideal component for metals and irons used in the construction processes.

Volatile corrosion inhibitors are most useful when surface protective treatment appears ineffective. Thus, volatile corrosion inhibitors are heavily used in various end-use industries such as mining & metallurgy, oil & gas, automotive, aerospace, and others where there is a high need for protecting the surface. Also, volatile corrosion inhibitors are useful in the water treatment sector for treating and recycling polluted water. Thus, reducing the gap between demand and supply for treated water is anticipated to expand the market size during the forecast period. In addition, the increasing urbanization in developing countries especially in countries such as China and India is expected to raise the utilization rate of volatile corrosion inhibitors in numerous end-use applications including power generation, chemical processing, and others which in turn is expected to impetus the growth of the market in the upcoming years. Also, rising investments and focus on research and development activities for introducing novel and advanced volatile corrosion inhibitors that can be used in numerous processes are projected to create a positive outlook for market growth in the analysis period.