Report Code: A08853 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Corrosion Monitoring Market
Request Now !Corrosion monitoring is the practice of measuring corrosiveness of process stream conditions by using "probes" that are inserted into process stream and are constantly exposed to process stream state. In several industries, corrosion monitoring plays a vital role and helps increase productivity and decrease downtime. Identifying location, causes, and extent of corrosion is essential so that operations continue and are reliable. Corrosion testing may detect any non-conforming components in any alloy, which are susceptible to corrosion and cause major loss in normal operations. It has tremendous advantages for safety procedures and preventive maintenance. Corrosion monitoring helps to make informed decisions about remaining life of objects of corrosion, strategies to extend the life of material and its selections.
COVID-19 scenarioAnalysis:
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Fast-growing end-use industries and increased knowledge of corrosion monitoring techniques are the driving forces for corrosion monitoring market development. Strict government guidelines on occupational health will also propel the corrosion control market in the years to come. In addition, old infrastructure or machinery in ancient industries that leads to metal corrosion would likely drive the corrosion monitoring market. The main market restraints are recognized as lack of adequate regulatory mandates in most Asia Pacific markets, and unawareness among end-use industries.
The global corrosion monitoring market trends are as follows:
Growth in demand for corrosion monitoring in oil & gas industry
In batch processing, where corrosive materials are concentrated due to repetitive cycles, the corrosion control system is important for maintaining safety standards. The oil & gas industry is the key application field for a framework for controlling corrosion. The oil & gas industry consisting of downstream, upstream, and midstream industries, and environmental agencies and regulators are under strict scrutiny for every stream. Hence, theindustry is in emerging needs for a high level of security and safety standards to enhance the longevity of itsproperties, as well as best practices to maintain the corrosion-free climate. The demand for a corrosion monitoring system in the oil & gas industry is essential in specific areas where accidental safety and prevention such as flow line, gathering system, transport pipeline, water injection facilities, vessels, chemical injection system, drilling mud system, etc. are of great importance. In the near future, energy consumption and increased production and exploration of crude oil and increasing downstream demand are expected to drive the market for a corrosion monitoring system.
Surge in use of corrosion monitoring across the globe
Monitoring of corrosion is the important tool against premature degradation including certain safety and environmental problems. Corrosion can have cost penalties caused by the loss of the systems and components in production, repairs and unplanned replaces.In addition to this, the rise in awareness regarding corrosion control and corrosion-related failure is a significant driving force for global market growth.Other key factors for the growth of the corrosion monitoring market include the pipeline industry and refineries. In the coming year, growth in urbanization and use of reinforced concrete structures in construction may also foster the global market for corrosion monitoring. Furthermore, the market leaders such as Permasense, SGS SA, Cosasco, and others have a good brand identity, in both the intrusive and non-intrusive corrosion monitoring industry. Growing Asia-Pacific demand would lead to a change of global majors to the region. It's also anticipated that new and local players will start exploring the growing global corrosion monitoring market.
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Corrosion Monitoring Market Report Highlights
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Key Market Players | SGS SA (Switzerland), Permasense (U.K.), Korosi Specindo (Indonesia), Applied Corrosion Monitoring (U.S.), Rysco Corrosion Services (Canada), Cosasco (U.S.), Intertek (U.K.), ICORR Technologies (U.S.), BAC Corrosion Control (U.K.), Pyramid Technical Services (India). |
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