Global Cathodic Protection Market is valued at US$ 4.84 Billion in 2022 and expected to reach US$ 7.14 Billion by 2029 with a CAGR of 5.7% over the forecast period.
Global Cathodic Protection Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Growing demand for oil & gas industry, rising construction activities, and increasing government initiatives for cathodic protection system drive the Growth of Global Cathodic Protection Market.
Cathodic protection is a widely employed corrosion control technique that is used to protect metallic structures from corrosion damage. It involves the application of an electrical current to counteract the electrochemical reactions that cause corrosion. By creating a protective environment, cathodic protection helps to extend the service life and ensure the integrity of various structures.
Its applications span various industries, including the oil and gas sector, where it safeguards underground pipelines, storage tanks, and other infrastructure. It is also crucial for marine and offshore structures, protecting them from the corrosive effects of seawater. Furthermore, cathodic protection is employed to safeguard steel-reinforced concrete structures, underground storage tanks, water pipelines, and power transmission towers. By implementing cathodic protection, these industries can extend the service life, maintain integrity, and ensure the safety of their critical assets.
The Covid-19 pandemic has had a negative impact on the global cathodic protection market. During Covid-19 pandemic, oil & gas, manufacturing and construction activities were closed due to lockdown conditions to reduce the risk of Covid infection which affected the demand of cathodic protection. Also, there was supply chain disruption due to transportation restrictions and a social distancing norm reduces the activities of various industries which reduces the demand of cathodic protection.
The global cathodic protection market is segmented on the basis of type, solution, application, and region & country level. Based on the type, the global cathodic protection market is classified into galvanic and impressed current. Based on the solution, the market is classified into products and services. Based on the application, the global cathodic protection market is classified into storage facilities, building, pipelines, processing plants, transportation, water & wastewater and others.
The regions covered in global cathodic protection market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global cathodic protection is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players in the global cathodic protection market report cover prominent players like -
One of the major factors driving the growth of the global cathodic protection market is the growing demand for oil & gas industry. Corrosion is perhaps the main risk related with oil and gas production and transportation. To counter this, cathodic protection has proved to be essential for protecting pipelines, and guaranteeing their physical integrity in the face of corrosion. Considering that corrosion is an essential trouble spot for many oil and gas organizations, many are progressively going to cathodic protection for a long-term sustainable for this pervasive issue. Hence, increasing demand for oil & gas industry drives the global cathodic protection market growth over the forecast period.
For example; according to the International Energy Agency (IEA), by 2026, worldwide oil consumption is estimated to arrive at 104.1 mb/d. This would address an increment of 4.4 mb/d from 2019 levels. Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago.
In addition, rising construction activities are also supplementing the market growth. Many supported concrete structures experience the premature degradation, most regularly brought about by chlorides. Cathodic protection is involved by many structure proprietors as an integrated part of the maintenance strategy for built up concrete structures. In this way, many reinforced concrete structures designs are ready for establishment of cathodic protection previously during the construction as opposed to before, when cathodic protection was just utilized as a method of repair.
Cathodic protection proficiently quits continuous corrosion and accordingly degradation of construction. Therefore, increasing construction activities drives the demand of cathodic protection market growth. Furthermore, the increasing government initiatives for cathodic protection system also drive the global cathodic protection market. For instance; as per the news published on November 23rd, 2021, The Honorable Andrew Furey, Chief of Newfoundland and Labrador, Honorable Andrew Parsons, Minister of Industry, Energy and Innovation, declared financial help for 26 supply and service projects through the Newfoundland and Labrador Offshore Oil and Gas Industry Recovery Assistance Fund, adding up to around $35.5 million.
However, availability of other substitutes may hamper the global cathodic protection market growth. In spite of that, the rising demand for power generation industry & development of new techniques can provide various opportunities for the further growth of the global cathodic protection.
North America is expected to dominate the global cathodic protection market due to the growing need for oil and gas, increasing government and private organizations support and presence of key players in the region. For instance; according to U.S. Energy Information Administration (EIA), U.S. crude oil creation is about 11.8 million barrels each day (b/d) in 2022 and 12.6 million b/d in 2023, which would establish a standard for the most U.S. crude oil production during a year. The ongoing record is 12.3 million b/d, set in 2019. Hence, growing need for protection from corrosion in oil and gas is increases the demand of cathodic protection in North America region.
Also, increasing government and private organizations support drives the cathodic protection market over the forecast period. For example; as per the news published on June 26th, 2022; PG&E got a $1.27 million fine and citation for neglecting to speedily fix issues with corrosion prevention systems in its flammable gas pipelines, the California Public Utilities Commission.
The Asia Pacific is anticipated to grow faster in the global cathodic protection market within the forecast period due to rising investments in infrastructure development and increasing urbanization in the region. Growing investments in infrastructure development in Asia Pacific region drive the market over the forecast period. For instance; according to the India Brand Equity Foundation (IBEF), the government has given a huge push to the infrastructure area by dispensing Rs. 10 lakh crore (US$ 130.57 billion) to improve the infrastructure sector. The government extended the National Infrastructure Pipeline (NIP)' to 9,335 tasks and approximately 217 projects worth Rs. 1.10 lakh crore (US$ 15.09 billion) were finished as of 2020 in India.
Interpon’s New Redox One Coat Delivers Total Corrosion Protection
On April 3rd, 2022; AkzoNobel enhanced its Interpon Redox scope of powder coatings with the launch of Redox One Coat, the corrosion prevention solution that conveys all the security user would anticipate from the Redox name yet in a solitary coat. Interpon Redox One Coat contrasts from traditional coating systems which require a primer and topcoat, adding to its sustainability credentials by saving money on material use and energy, and further developing efficiency without compromising on protection. Simple to apply and no extra necessities to pre-treatment, a solitary utilization of Interpon Redox One Coat offers Agricultural and Construction Equipment metal outside furniture, lighting, recreation gear and steel items products protection up to corrosion category C4M (ISO 12944).
Imenco Launched Offshore Mooring Chain Corrosion Protection Tech
On September 7th, 2021; Imenco Erosion Innovation (ICT), a division of Imenco, launched transformational mooring chain cathodic protection technology, called Pacu. Pacu includes numerous applications inside the Oil and Gas industry including near-shore moorings and permanently moored offshore structures, yet in addition in other maritime industries, incorporating offshore wind. The cathodic protection of chains opens up the chance to diminish corrosion allowances, subsequently empowering more slender chains to be utilized in new and replacement frameworks. This prompts less weight and hence less hardware required for dealing with, transportation, and establishment, decreasing the carbon footprint of operations.
|2016 - 2021
|2022 - 2029
|Market Size in 2022:
|USD 4.84 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 7.14 Billion
|Tables, Charts & Figures:
|BAC Corrosion Control Ltd., VASU CHEMICALS, Aegion Corporation, Perma-Pipe International Holdings, Inc., Cathodic Protection Co. Ltd., Corrosion Protection Specialist Pvt. Ltd., Imensco AS, LORESCO Inc., SAE International., MESA, Cathodic Control Company Private Limited, Corrosion Technology Services India, Cathodi Protection Management, Inc., Farwest Corrosion Control Company, Southern Cathodic Protection, TECNOSEAL FOUNDRY s.r.l., MATCOR, Inc., Nakabohtec Corrosion, and others
|By Type, By Solution, By Applications
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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