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Corrosion Under Insulation Monitoring Market Size, Global Trends, Latest Techniques, Key Segments and Geography Forecasts Till 2028

02-16-2023 02:58 PM CET | Industry, Real Estate & Construction

Press release from: The Insight Partners

According to the new research report published by The Insight Partners on "Corrosion Under Insulation Monitoring Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services) and End User (Oil & Gas, Marine, Chemical & Petrochemical, Energy & Power, Food Processing Industries, and Others)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The corrosion under insulation monitoring market is expected to grow from US$ 94.74 million in 2022 to US$ 193.72 million by 2028; it is estimated to grow at a CAGR of 12.7% from 2022 to 2028.

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Corrosion is the gradual breakdown of a substance due to its exposure to various conditions in its surroundings; the process is more common in metallic alloys. It is a commonly associated event with the processing of petroleum and natural gas. Losses in economic cycles caused by corrosion that impact the environment are expected to take a toll on the production and consumption of materials for industrial development. Metallic pipelines or storage and handling equipment undergo corrosion when their surfaces come in contact with water or humidity. It can happen anywhere on the susceptible components, but the degradation process typically initiates in the area where water penetration occurs and come into metal contact creating a corrosion cell. The presence of corrosion products such as copper and lead, which are partially soluble in water in their ionic forms, is harmful to consumers. The extent of corrosion depends on metal type, ionic makeup, and pH.

The wear and corrosion of metal underneath a corroded deposit or in its immediate vicinity in pipes, ducts, tanks, preheaters, boilers, and other metal structures in insulated heat exchange systems is one of the most frequent challenges faced by various industries. Although metal anti-corrosion products and different protective coatings are available to protect the metals from corrosion, users find it particularly difficult to detect and protect the inner surfaces of metallic components or equipment due to multiple layers or external jacketing systems. When the insulation loses insulating properties, glass fiber or asbestos coatings are employed in these situations. Different types of coatings, including insulation coatings, are susceptible to corrosion damage. It is difficult to choose the type of insulation when weighing a huge number of benefits and drawbacks related to installation, operation, cost, and corrosion protection. Thus, such high losses caused by corrosion are one of the key factors boosting the demand for corrosion under insulation monitoring market solutions.

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The corrosion under insulation monitoring market is mainly driven by losses caused by corrosion-related damage and the increased durability of pipelines in the oil & gas sector. Further, a rise in demand for asset management services by end-use industries and emerging countries presents opportunities in the corrosion under insulation monitoring market. However, the requirement of skilled personal and technical expertise and focus on curative maintenance than preventive limits the corrosion under insulation monitoring market growth. Nevertheless, the integration of AI with corrosion monitoring systems is likely to emerge as a future trend in the corrosion under insulation monitoring market during the forecast period.

The main stakeholders of the global corrosion under insulation monitoring market include raw material/component providers, CUI monitoring system manufacturers, CUI monitoring service providers, and end users. The raw material/component providers offer the CUI monitoring market players with components such as sensors. The market players utilize these sensors to manufacture the hardware used for monitoring insulated pipes for CUI situations. Any impact on the raw material/component providers of the corrosion under insulation monitoring market players will directly impact the offering of the market players. The next important stakeholder in the value chain is the CUI solution providers, who offer hardware, software, and services to the end-users. A few of the key players operating in the corrosion under insulation monitoring market include 3-Sci Limited; Alabama Specialty Products, Inc.; Eddyfi Technologies; iSensPro; and Kaefer Group. They offer advanced monitoring solutions for in-time detection of any type of corrosion across pipelines in the end-use industries.

The List of Companies - Corrosion Under Insulation Monitoring Market

3-Sci Limited
Alabama Specialty Products, Inc.
Eddyfi Technologies
iSensPro
KAEFER
MAXWELL NDT
MISTRAS Group
TesTex Incorporated
QSA Global, Inc.
Cosasco

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Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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