To stop the corrosion of a metal surface in a harsh environment, the Cathodic protection Market is a widely used technique. The cathodic protection market is anticipated to expand at a significant rate during the forecast period as a result of the effective and reliable corrosion protection technology, which will be aided by the rising demand for corrosion prevention technologies to reduce the direct cost of corrosion.
According to a recent study by destiny Market Insights (FMI), the cathodic safety market will experience significant growth by 2028, growing at a rate of nearly 6% CAGR. According to the “Global Measures of Prevention, Utility, and Economics of Corrosion Generation (Impact)” study by the national association of Corrosion Engineers (NACE), the cost of corrosion increased to over US$ 2,500 Bn in 2013.
However, by using the usage of the modern-day to be had corrosion manipulation practices, only around 15% to 35% of the total value of corrosion can be saved, that is between US$ 375 Billion – US$ 875 Billion.
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Cathodic Protection Market: Segmentation Analysis
Cathodic Protection Market Analysis by Solution
In solution, the cathodic protection market has been categorized into products and services. The product segment can be further divided into anodes, power supplies, junction boxes, test stations, remote monitors, coatings, instrumentation, and others.
Services include inspection, design & construction, and maintenance. Leading players in the market provide almost all the products and services for cathodic protection to various end-users.
Cathodic Protection Market Analysis by Type
By type, the cathodic protection market is segmented into galvanic (sacrificial anodes) and impressed current. The impressive current-based cathodic protection continues to hold bulk shares of the market, nearly 80%.
Demand for cathodic protection based on impressed current continues to remain influenced by the high cost of alternative methods available for cathodic protection currently.
Cathodic Protection Market Analysis by Application
By application, the cathodic protection market has been categorized into pipelines, storage facilities, processing plants, water & wastewater, transportation, building, and others.
Government regulations related to the corrosion protection of industrial infrastructures continue to influence the growth of the cathodic protection market.
The more regulations are imposed, the more cathodic protection is required, and the more accurate and detailed the testing and records need to be. This is expected to significantly boost the growth of the cathodic protection market shortly.
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Cathodic Protection Market Analysis by Region
From a regional perspective, North America is projected to be a prominent market, owing to significant pipeline integration in the oil & gas industry. Europe is projected to hold over one-fourth share of the cathodic protection market.
Cathodic Protection Market: Vendor Insights
Key players operating in the cathodic protection market include Aegion Corporation, BAC Corrosion Control Ltd., Cathodic Protection Company, Cathodic Protection Management, Inc., Corrosion Protection Specialist Private Limited, Farwest Corrosion Control Company, Imenco AS, Matcor, Inc, MG Duff International Ltd, Perma-Pipe Inc., SAE Inc., Southern Cathodic Protection, Tecnoseal Group, The Nippon Corrosion Engineering Co., Ltd., and Nakabohtec Corrosion Protecting Co., Ltd.
Key Segments Covered In Cathodic Protection Industry Analysis
By Solution:
- Products
- Anodes
- Power Supplies
- Junction Boxes
- Test Stations
- Remote Monitors
- Coating
- Instrumentation
- Others
- Services
- Inspection
- Design & Construction
- Maintenance
By Type:
- Galvanic (Sacrificial Anodes)
- Impressed Current
By Application:
- Pipelines
- Storage Facilities
- Processing Plants
- Water & Wastewater
- Transportation
- Bridges
- Airports
- Fuelling Systems
- Metros
- Building
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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