Press release
Cathodic Protection Market Comprehensive Shares, Historical Trends And Forecast By 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.Get | Download Sample Copy with Graphs & List of Figures:
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Cathodic Protection Market Analysis by Solution
By solution, the cathodic protection market has been categorised into products and services. The products 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.
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Cathodic Protection Market Analysis by Type
By type, the cathodic protection market is segmented into galvanic (sacrificial anodes) and impressed current. The impressed 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 continues to influence growth of the cathodic protection market.
The more regulations are imposed, the more cathodic protection is required, and more accurate and detailed the testing and records need to be. This is expected to significantly boost growth of the cathodic protection market in the near future.
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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.
Cathodic Protection Market Analysis by Region
From a regional perspective, North America is a 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 cathodic protection market.
The market in Asia Pacific is anticipated to expand at a relatively higher CAGR, owing to the increasing investments in the infrastructure development, and increased spending on the maintenance of existing infrastructure. China is expected to be the most lucrative market for cathodic protection, with sales projected to grow at a CAGR of over 7% during through 2028.
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