Cathodic Protection Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 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:
https://www.futuremarketinsights.com/reports/sample/rep-gb-6526

1. Cathodic protection market surpassed revenues worth US$ 4,000 Mn in 2017.
2. The cathodic protection market is expected to record a steady CAGR of nearly 6.0% through 2028, to exceed revenues worth US$ 7,000 Mn.
3. Regulatory framework continues to play an important role in the growth of cathodic protection market -
o Government bodies such as the Environment Protection Agency, European Environment Agency (EEA), and United States Code of Federal Regulations (CFR), have imposed stringent regulations related to corrosion protection in industries.
o According to the study of the National Association of Corrosion Engineers (NACE), titled 'International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT),’ the costs associated with corrosion protection worldwide surpassed US$ 2,500 Bn in 2013, which was equivalent to 3.4% of the world’s GDP at the time.
o It has been noted that using currently available corrosion control practices, only around 15% to 35% of this total global cost of corrosion can be reduced, which is between only US$ 375 Bn to US$ 875 Bn. This will significantly impact growth of the cathodic protection market.
4. Asia Pacific is projected to lead the global cathodic protection market, underpinned by the requirement for corrosion protection systems, and services entailed by construction and infrastructure development activities, along with the maintenance activities associated with old structures.
5. Cathodic protection market will also witness significant growth opportunities in the Middle East & Africa, owing to surging demand from the industrial sectors, particularly in the oil & gas industry.
6. Cathodic protection by means of impressed current remains preferred among end-users.

Revenues from the impressed current-based cathodic protection accounted for bulk shares of the market in 2018. Demand for impressed current cathodic protection remains undergird by increasing demand for corrosion protection for underground pipelines and subsea pipelines in suburban and rural areas.

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.

For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-6526

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.

Segmentation Analysis:
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.

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%.

Analysis by Application
By application, the cathodic protection market has been categorized into pipelines, storage facilities, processing plants, water & wastewater, transportation, building, and others.

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.

For any queries linked with the report, ask an analyst
https://www.futuremarketinsights.com/ask-question/rep-gb-6526

Competitive Analysis:
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.

Contact Us
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44(0)20-7692-8790

For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

This release was published on openPR.