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.
The market for cathodic protection is anticipated to reach US$ 4,605.0 Mn in 2022 and expand at a CAGR of 5.2% from 2022 to 2032. By 2032, the market will probably be valued at US$ 4,680.2 Million.
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Cathodic Protection Market: Segmentation Analysis
Cathodic Protection Market Analysis by Solution
The cathodic protection market has been divided into products and services in the solution. Anodes, power supplies, junction boxes, test stations, remote monitors, coatings, instruments, and other items can be categorised under the product section.
Inspection, design & construction, and maintenance are all examples of services. The majority of cathodic protection products and services are offered to different end customers by the market’s top players.
Cathodic Protection Market Analysis by Type
By type, the cathodic protection market is segmented into galvanic (sacrificial anodes) and impressed current. The impressive 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 continue to influence the growth of the cathodic protection market.
The more regulations are imposed, the more cathodic protection is required, and the more accurate and detailed the testing and records need to be. This is expected to significantly boost the growth of the cathodic protection market shortly.
Cathodic Protection Market Analysis by Region
From a regional perspective, North America is 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 the cathodic protection market.
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.
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Key Segments Covered In Cathodic Protection Industry Analysis
By Solution:
- Products
- Anodes
- Power Supplies
- Junction Boxes
- Test Stations
- Remote Monitors
- Coating
- Instrumentation
- Others
- Services
- Inspection
- Design & Construction
- Maintenance
By Type:
- Galvanic (Sacrificial Anodes)
- Impressed Current
By Application:
- Pipelines
- Storage Facilities
- Processing Plants
- Water & Wastewater
- Transportation
- Bridges
- Airports
- Fuelling Systems
- Metros
- Building
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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