Latin America Anti Corrosion Agents Market Research Report 2024(Status and Outlook)
The Latin America Anti Corrosion Agents market size was valued at US$ 302 million in 2024 and is projected to reach US$ 418 million by 2030, at a CAGR of 5.6% during the forecast period 2024-2030. Anti corrosion agents are chemicals designed to protect metal surfaces from degradation caused by environmental factors, extending the lifespan and maintaining the integrity of metal structures and components. The Latin American anti corrosion agents market is experiencing moderate growth, driven by infrastructure development and industrial expansion. Brazil, Mexico, and Colombia account for 70% of the regional market. In 2023, the oil and gas industry consumed 33% of anti corrosion agents in Latin America. The market saw a 15% increase in demand for environmentally friendly corrosion inhibitors in 2023, driven by stricter regulations. Use in the automotive sector is growing at 7% annually. Key players are investing in nanotechnology-based corrosion protection, with a 22% year-over-year inc