Cortec® & VCIs Draw Major Attention in New Market Report
April 18, 2024
A new study published by 360iResearch reinforces the fact that Cortec® is poised to play a key role in the growing global corrosion inhibitor market. It also underscores exciting opportunities for Cortec® associates to meet burgeoning market demands with an emphasis on environmental responsibility.
VCIs in a Category of Their Own
According to estimates by 360iResearch, the global corrosion inhibitor market was 9.2 billion in 2023 and is expected to grow at a CAGR of 5.37% to 13.3 billion in 2030. Of special note is the fact that the report’s market breakdown by corrosion inhibitor type identifies Volatile Corrosion Inhibitors (VCIs) in their own category alongside water-based and oil-based corrosion inhibitors. While Cortec® offers all three, it is best known for VCIs. This recognition of VCIs as a major market share is a tacit validation of the significant role Cortec® has played in commercializing VCIs into an accepted industry standard.
Cortec® a Key Player in the Corrosion Inhibitor Market
The forecast lists Cortec® as a key player alongside big name publicly-traded companies such as BASF, Akzo Nobel, and Ecolab. This is significant given Cortec’s position as a specialty privately-held company among chemical giants. Cortec® is identified as a “pathfinder” with significant product satisfaction ratings and the potential to challenge big conglomerates like BASF and Dow by innovation. 360iResearch also calls attention to Cortec® as a leader in pursuing sustainable, environmentally responsible technologies in corrosion protection.
Growth Industries and Regions
The forecast offers practical value by identifying seven top industries where demand for corrosion inhibitors is highest and expected to grow. It also projects overall market growth by region. Both findings show that Cortec® is well positioned to support growing demand across all sectors globally. Interestingly, although the report does not list wastewater among the seven key industries, it notes that wastewater treatment is receiving increasing attention around the globe and will be another driver of corrosion inhibitor demand. In this respect, Cortec® is uniquely poised to help, not only by way of its core corrosion solutions but also through supplementary biological wastewater treatments offered by Cortec’s subsidiary Bionetix® International.
Plan Your Attack on Corrosion
The data in this report underscore the opportunities and competence that Cortec® partners have available to address corrosion concerns across the globe. Contact Cortec® to equip yourself with solutions and to align on strategies specific to your market area.
Keywords: Cortec, VCI, corrosion inhibitor market report, 360iResearch, global corrosion inhibitor market, Volatile Corrosion Inhibitors, sustainability, corrosion inhibitor demand, top industries with corrosion, Bionetix
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