Global Corrosion Monitoring Market

The global corrosion monitoring market was valued US$ 400.9 Mn and is expected to reach 721.55 Mn by 2027, at a CAGR of 11.2% during a forecast period. Growing demand of this program during metallic construction will generate huge opportunity for market growth.

Global Corrosion Monitoring Market

 

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global corrosion monitoring market Definition:

 

Corrosion monitoring activity means monitoring the chances of critical corrosion of all the industrial components such as factories, workshops, concert structures, and plants including rails, materials, machines, assets, tunnels, and others for any possibility of corrosion. For the consistent procedure, it is essential to recognize the rate, location, and main reasons for corrosion.

The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.

global corrosion monitoring market Dynamics:

 

The growth of the corrosion monitoring market is driven by factors like development in oil and gas industries which highly recommends the corrosion monitoring program. As corrosion monitoring system plays major role in specific areas wherever accidental safety and hindrance is extremely significant like transport pipeline, water injection facilities, flow line, vessels, drilling mud system, gathering system, chemical injection system, and others probably propel demand for the overall corrosion monitoring market in the future years. The trend of this process utilization is growing globally owing to the popularity of the adoption of the corrosion monitoring process in numerous industrial sectors. It provides a virtual measurement of corrosion rate and metal loss at the workplace in the industrial sector. Presence of several advanced techniques such as weight loss coupons, electrical resistance, linear polarization, hydrogen penetration, galvanic current, and microbial as process demand is creating numerous opportunities for market growth. Additionally, development in urbanization and the use of protected concrete buildings in construction is expected to substitute the global corrosion monitoring market growth by the end of 2027.

 

Moreover, high installation and repair costs related to the process are expected to hamper the market demand in the coming years.

global corrosion monitoring market Segment analysis:

 

By the end-user segment, the oil and gas industry sector is expected to show constant growth during the estimated year. Major changes and a huge rate of corrosion in the oil and gas industries are fuelling the overall corrosion monitoring market demand. Oil and gas industries can deduce the loss of millions of dollars by adopting this technology as it helps to gain online and offline information of product loss. Technological advancement in the techniques to get the information is making this process worldwide famous in oil and gas industries. It is crucial to record and prevent premature corrosion in these industries as is cost leaks, equipment maintenance, and replacement and system failures. This process helps to reduce this waste by distributing corrosion supervision, chemical equipment, and injection systems which function as to get accurate data about corrosion rates and eventually extend asset life which is attracting the vendors to invest in the market. Furthermore, as per the estimation end-user segment has documented 65% of market share and is expected to show significant growth during the projected period. On the other hand, the oil and gas market was registered XX Mn at the end of the base year with a CAGR of X.X% and will collect a large revenue by the end of 2027.

global corrosion monitoring market Regional Analysis:

 

North America is expected to dominate the corrosion monitoring market and is expected to grow at a CAGR of XX % during the forecast period. Development in the chemical stabilizing industries, oil and gas, power generation, paper, and industrial sector the US region is supporting the market growth. A mounting requirement for the oil and gas will contribute to the growth in market size by 2027. The US has documented the world’s largest corrosion monitoring process utilization by numerous end-user sectors present in the region, approximately 40-45% of market share in the year 2019 was registered by the US market. Globally, present manufacturing companies in the market are also expected to enlarge corrosion monitoring size over the forecast period to maximize its overall revenues cost. The global corrosion monitoring market was valued US$ X.9 Mn and is expected to reach XX Bn by 2027, at a CAGR of X.10% during a forecast period.

 

The Asia Pacific is considered as the second-largest market in terms of growth, has crossed US$ XX Bn in 2019 and is projected to rise at a CAGR of over X.6% from 2020 to 2027 where prominent growth drivers are increasing chemical, oil and gas industries and will likely boost product demand by 2027.

 

The objective of the report is to present a comprehensive analysis of the Global Corrosion Monitoring Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Corrosion Monitoring Market dynamics, structure by analysing the market segments and project the Global Corrosion Monitoring Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Corrosion Monitoring Market make the report investor’s guide.

Scope of global corrosion monitoring market: Inquire before buying

 

Global Corrosion Monitoring market, By Technique

 

  • Linear polarization resistance
  • Ultrasonic thickness measurement
  • Corrosion coupons
  • Electrical resistance
  • Galvanic
  • Others

Global Corrosion Monitoring market, By End-user

 

  • Power Generation
  • Manufacturing
  • Pulp and Paper
  • Oil and Gas
  • Chemical
  • Others

Global Corrosion Monitoring Market, By Region

 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players Operating the Corrosion Monitoring Market

 

  • Crystal Industrial Syndicate Pvt. Limited
  • Honeywell International
  • Alabama Speciality Products
  • Metex Corporation Limited
  • Brown Corrosion Services Inc
  • Korosi Specindo
  • Pyramid Technical Services
  • SGS SA
  • ICORR Technologies
  • Cosasco
  • Intertek
  • Permasense
  • Rysco Corrosion Services
  • BAC Corrosion Control
  • Roxar
  • Caproco

 

 

 

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Author: Web Spangle

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