Cathodic Protection Market is expected to record a steady CAGR of nearly 6.0% through 2028

Cathodic Protection Demand Growing in Line with Efforts toward Developing Effective Preventive Measures to Curtail Corrosion Cost: FMI Study

Valley Cottage, United States - November 19, 2019 /MarketersMedia/ —

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.

However, by using the current available corrosion control practices, only around 15% to 35% of the total cost of corrosion can be saved, which is between US$ 375 Bn – US$ 875 Bn.

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.

To know more about this market, request a sample@ https://www.futuremarketinsights.com/reports/sample/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.

Cathodic Protection Market: Segmentation Analysis

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.

Request to Browse Report Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-6526

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.

Get full Report Now@ https://www.futuremarketinsights.com/checkout/6526

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.

Request a discount for this report@ https://www.futuremarketinsights.com/request-discount/rep-gb-6526

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.

More Related reports from Industrial Automation & Equipment Insights:

Fire Extinguishers Market

Water Softening Systems Market

Laser Safety Glass Market

Contact Info:
Name: Abhishek
Email: Send Email
Organization: Future Market Insights
Address: 616 Corporate Way, Suite 2-9018
Phone: 3479183531
Website: https://www.futuremarketinsights.com/reports/cathodic-protection-market

Source URL: https://marketersmedia.com/cathodic-protection-market-is-expected-to-record-a-steady-cagr-of-nearly-60-through-2028/88934920

Source: MarketersMedia

Release ID: 88934920

More News From tech.aseancoverage.com

China says US has 'weaponized' visas to target exchanges

Dec 13, 2019

BEIJING — China on Wednesday accused the U.S. of having "weaponized" the issuance of visas following the reported inability of a top Chinese space program official to obtain permission to travel to a key conference in Washington. Foreign Ministry spokeswoman Hua Chunying told reporters that the head of the Chinese delegation to the International Astronautical Congress wasn't able to obtain a visa following an Oct. 12 interview, making it difficult for Chinese representatives to attend important events at the meeting. Reports said the vice chairman of the China National Space Administration, Wu Yanhua, had planned to attend the congress. Hua...

China criticizes Apple for app that tracks Hong Kong police

Dec 13, 2019

HONG KONG — Apple became the latest company targeted for Chinese pressure over protests in Hong Kong after the ruling Communist Party's main newspaper criticized the tech giant Wednesday for a smartphone app that allows activists to report police movements. HKmap.live, designed by an outside supplier and available on Apple Inc.'s online store, "facilitates illegal behavior," the People's Daily said in a commentary. "Is Apple guiding Hong Kong thugs?" the newspaper said. Beijing has pressed companies including Hong Kong's Cathay Pacific Airways to take the government's side against the protests, which are in their fourth month. Apple didn't immediately respond...

Japan spacecraft releases rover to asteroid in last mission

Dec 13, 2019

TOKYO — Japan’s Hayabusa2 spacecraft released a small rover on Thursday that will land on the surface of an asteroid as part its final mission before heading back to Earth, Japan’s space agency said. The Minerva-II2 rover began a slow descent to the asteroid Ryugu, the Japan Aerospace Exploration Agency, or JAXA, said. Hayabusa2 arrived in the area in June 2018. It has collected soil samples and other data from the asteroid 300 million kilometers (180 million miles) from Earth in a series of missions aimed at obtaining clues to the origin of the solar system. The spacecraft released the...

NASA chief says security needed to explore space safely

Dec 13, 2019

TOKYO — The head of NASA says space security is necessary so that the United States, Japan and others can safely explore the moon and Mars. NASA Administrator Jim Bridenstine said Wednesday that gadgets using space technology have become indispensable parts of people's lives and their safety must be preserved. Japan and the U.S. have long cooperated in space science, including the ongoing International Space Station program. On Tuesday, NASA and the Japan Aerospace Exploration Agency, or JAXA, confirmed Japan's participation in America's lunar and Mars exploration projects, including an Artemis lunar mission. Bridenstine is in Japan to gain Japanese...

Japan briefs diplomats on Fukushima nuclear water concerns

Dec 13, 2019

TOKYO — Japan tried to reassure foreign diplomats Wednesday about safety at the crippled Fukushima nuclear plant amid concerns about massive amounts of treated but radioactive water stored in tanks. Diplomats from 22 countries and regions attended a briefing at the Foreign Ministry, where Japanese officials stressed the importance of combating rumors about safety at the plant, which was decimated by a 2011 earthquake and tsunami, while pledging transparency. The plant's operator, Tokyo Electric Power Co., or TEPCO, said last month that it would run out of storage space for the water in 2022, prompting South Korea to raise safety...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales[at]aseancoverage.com