Corrosion Monitoring Market to Witness Enhanced Demand From Oil & Gas and Manufacturing Industries Till 2021 | Million Insights
13 Mar, 2018, 12:05 GMT
FELTON, California, March 13, 2018 /PRNewswire/ --
The global Corrosion Monitoring market size is classified on the basis of type, technique, end-use industry and geography. Corrosion monitoring involves the comprehensive monitoring of all crucial components, facilities, industrial materials as well as plants for any signs of corrosion. Corrosion monitoring comprises control, measurement and prevention and covers a wide range of technical methods. This may include achieving anodic and cathodic protection, selection of materials, dosing of chemicals as well as the application of external and internal coatings.
Corrosion monitoring is a vital element of managing the integrity and maintaining awareness of the condition and service life of industrial systems and assets. The factors that propel the market growth includes growing demand in end-use industries owing to increasing awareness regarding corrosion monitoring, innovation in technology for corrosion monitoring, and benefits of process integration.
On the basis of type, the market is classified as intrusive and non-intrusive. On the basis of technique, the Corrosion Monitoring market size is classified as corrosion coupons, electrical resistance, linear polarization resistance, galvanic, ultrasonic thickness measurement and others.
Among the technique, ultrasonic thickness measurement is projected to account a major share of the Corrosion Monitoring market size. It is also the fastest-growing corrosion monitoring technique globally. In addition, this technique is rapidly replacing older techniques such as corrosion coupons and electrical resistance. The key factors that drive the growth of this technique is due to ease of operations, quick and fast monitoring of process, and accuracy of data. Moreover, when incorporated with the process system of equipment, the observations can be linked and superior results for corrosion monitoring can be achieved.
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On the basis of end-use industry, the market research report is classified as oil & gas, chemical, manufacturing, power generation, pulp & paper and others. Among the end-use industry, oil & gas industry is projected to account a major share of the Corrosion Monitoring market size.
The oil & gas industry consists of upstream, midstream, and downstream industries. All of them are continuously under strict inspection by environment supervisory body and regulators. Appropriate monitoring and safety of assets coupled with durability is accomplished by best practices in corrosion monitoring systems. Growing exploration and production along with rising demand from downstream industries are expected to increase the demand for corrosion monitoring.
On the basis of geography, the market research report is classified as North America, Europe, Asia Pacific, South America and Middle East & Africa. The North American region consists of U.S. and Canada. The European region consists of Germany, France, England and Rest of Europe. Asia Pacific consists of India, China, Japan, ASEAN, Australia and New Zealand. Middle East & Africa region consists of GCC, Southern Africa, and North Africa.
In case of geographical region, North America and Asia Pacific are projected to account a major share in the Corrosion Monitoring market. The Asia Pacific market is estimated to record the highest growth assisted by the growing demand from fast developing economies of the region. On the other hand, North America is expected to sustain its position during the forecast period.
The factors such as rising shale gas exploration activities and stabilizing chemical manufacturing fuel the growth of the market. In addition, high investments from manufacturers for novel product development will also drive the growth of the market.
Some of the prominent players that fuel the growth mentioned in the report include Intertek, SGS SA, Cosasco, KorosiSpecindo, Rysco Corrosion Services, BAC Corrosion Control, Applied Corrosion Monitoring, Permasense, ICORR Technologies and Pyramid Technical Services.
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