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Corrosion Monitoring - Global Market Trajectory & Analytics

  • ID: 4804620
  • Report
  • April 2021
  • Region: Global
  • 285 Pages
  • Global Industry Analysts, Inc
Global Corrosion Monitoring Market to Reach $410.3 Million by 2027

Amid the COVID-19 crisis, the global market for Corrosion Monitoring estimated at US$242.4 Million in the year 2020, is projected to reach a revised size of US$410.3 Million by 2027, growing at a CAGR of 7.8% over the analysis period 2020-2027. Corrosion Coupons, one of the segments analyzed in the report, is projected to record a 7.8% CAGR and reach US$141.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electrical resistance segment is readjusted to a revised 7.7% CAGR for the next 7-year period.



The U.S. Market is Estimated at $65.5 Million, While China is Forecast to Grow at 11.8% CAGR

The Corrosion Monitoring market in the U.S. is estimated at US$65.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$92.1 Million by the year 2027 trailing a CAGR of 11.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

Linear Polarization Resistance Segment to Record 8% CAGR

In the global Linear Polarization Resistance segment, USA, Canada, Japan, China and Europe will drive the 7.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$32.8 Million in the year 2020 will reach a projected size of US$54.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$56.8 Million by the year 2027, while Latin America will expand at a 9.5% CAGR through the analysis period.

Select Competitors (Total 42 Featured):
  • Bac Corrosion Control Ltd.
  • Cosasco Systems, Inc
  • Icorr Technologies
  • Intertek Group PLC
  • Korosi Specindo
  • Pyramid Technical Services Pvt. Ltd.
  • Rysco Corrosion Services Inc.
  • SGS SA
Frequently Asked Questions about the Global Market for Corrosion Monitoring

What is the estimated value of the Global Market for Corrosion Monitoring?

The Global Market for Corrosion Monitoring was estimated to be valued at $242.4 Million in 2020.

What is the growth rate of the Global Market for Corrosion Monitoring?

The growth rate of the Global Market for Corrosion Monitoring is 7.8%, with an estimated value of $410.3 Million by 2027.

What is the forecasted size of the Global Market for Corrosion Monitoring?

The Global Market for Corrosion Monitoring is estimated to be worth $410.3 Million by 2027.
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I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • Corrosion Monitoring Systems Crucial to Extending Service Life of Critical Industrial Equipment and Assets
  • Challenge of Ageing Infrastructure in Process Manufacturing Industries Highlights Pressing Need for Corrosion Monitoring
  • An Overview of Corrosion Monitoring Techniques
  • Impact of Covid-19 and a Looming Global Recession
  • Rising Corrosion Costs in Oil and Gas Production Industries Augments Demand for Corrosion Monitoring Solutions
  • STable Growth in Global Oil Production Bodes Well for Market Expansion: Global Crude Oil and Liquid Fuels Production (In Million Barrels per Day) for the Years 2018, 2018, 2020, & 2021
  • Rising Shale Gas Exploration Activities Provides Further Growth Opportunities: Global Commercial Shale Gas Production (In Billion Cubic Feet per Day) for the Years 2020 and 2040
  • Increasing Need for Corrosion Mitigation in Modern Day Refineries Fuels Market Prospects
  • Sustained Global Demand for Transportation Fuels Amplifies Refining Throughput, Creating Lucrative Growth Opportunities in the Market: Transportation Sector Fuel Consumption (in quadrillion Btu) by Type for the Years 2020, 2025, 2030 & 2040
  • Growing Use of Reinforced Concrete in Modern Structures Presents Lucrative Growth Opportunities
  • Emerging Preference for Non-intrusive Corrosion Monitoring Technologies
  • Ultrasonic Thickness Measurement for Corrosion Monitoring in Hazardous Industrial Environments
  • Technological Advancements and Innovations Vital to Future Market Growth
  • Wider Deployment of IoT Drives Opportunities for Development of Intelligent Sensing Solutions
  • Next Generation Predictive Corrosion Management Solutions

III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 42
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