Cathodic Protection Market Value to Grow by Almost $7000 Million During 2021-2028

According to a recent study of Future Market Insights (FMI), the cathodic protection market will witness a robust expansion at nearly 6% CAGR through 2028. According to the National Association of Corrosion Engineers’ (NACE) ‘International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT)’ study, the global cost of corrosion was over US$ 2,500 Bn in 2013.

However, by using the current available corrosion control practices, only around 15% to 35% of the total cost of corrosion can be saved, which is between US$ 375 Bn – US$ 875 Bn.

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Increasing global cost of corrosion has resulted in a significant rise in the need for technologies related to its prevention, which in turn is creating demand for solutions such as cathodic protection. Additionally, essentiality of corrosion protection and control in industrial sectors, for the prevention of any catastrophic events, is a key factor underpinning growth of the cathodic protection market.

Cathodic protection is a globally used technique to control the corrosion of a metal surface in a harsh environment. Owing to the efficient and reliable corrosion protection technology, the cathodic protection market is estimated to grow at a significant rate during the forecast period, supported by the increasing demand for corrosion prevention technologies to minimize the direct cost of corrosion.

Major Key Player:

Growing competition and increasing number of players in regional as well as global cathodic protection market has meant that project acquisition has become a key challenge to be addressed.

Leading players in the cathodic protection market are now focusing on expanding their customer base, and strengthening their relationships with existing customers to increase their foothold in the cathodic protection market.

List of Companies Covered:

  • Aegion Corporation
  • Perma-Pipe
  • BAC Corrosion Control Ltd.
  • Cathodic Protection Company
  • Cathodic Protection Management, Inc.
  • Corrosion Protection Specialist Pvt. Ltd.
  • Farwest Corrosion Control Company
  • Imenco AS
  • MATCOR, Inc.
  • SAE Inc.
  • Southern Cathodic Protection
  • Tecnoseal Marine Anodes USA Inc.
  • Nippon Corrosion Engineering Co., Ltd.
  • SunRui Marine Environment Engineering Company Ltd. (CSIC)
  • PureHM (Xylem Inc.)
  • STORK
  • C M BEASY Ltd.
  • Others

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According to a recent research, infrastructure spending is expected to grow at a significant rate in the foreseeable future, with almost 60% of infrastructure spending between 2018 and 2025 expected to be witnessed in the Asia Pacific region.

The trend has been increasingly pervasive in developing nations such as India and China. Such robust infrastructure spending by governments will significantly drive the demand for cathodic protection in the upcoming years.

By Segment:

Solution

  • Products
    • Anodes
    • Power Supplies
    • Junction Boxes
    • Test Stations
    • Remote Monitors
    • Coatings
    • Instrumentation
    • Others
  • Services
    • Inspection
    • Design & Construction
    • Maintenance

Type

  • Galvanic (Sacrificial Anodes)
  • Impressed Current

Application

  • Pipelines
  • Storage Facilities
  • Processing Plants
  • Water & Wastewater
  • Transportation
    • Bridges
    • Airports
    • Fuelling Systems
    • Metros
  • Building
  • Others

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • China
  • India
  • Japan
  • SEA and Other APAC
  • Middle East & Africa

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The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the global cathodic protection market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.



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