“Global corrosion monitoring market projected to register a CAGR of 9.1%”
The corrosion monitoring market size is estimated to reach USD 297.8 million by 2021, at a CAGR of 9.1% between 2016 and 2021. Increasing awareness, development of novel technologies, and emerging applications of corrosion monitoring are some of the drivers of market.
“Power generation - Fastest-growing market for corrosion monitoring”
The power generation industry accounted for the third-largest share, in terms of value, of the overall corrosion monitoring market in 2015. The market in this end-use industry is projected to witness the highest CAGR during the forecast period. As corrosion is inherent to both conventional (coal based, nuclear or hydro power) and unconventional power (geothermal, wind, solar) generation, this sector is projected to drive the market for corrosion monitoring.
Asia-Pacific to be the fastest-growing market for corrosion monitoring
The market for corrosion monitoring in Asia-Pacific is projected to record the highest CAGR during the forecast period. Asset protection, growing awareness, and new product launches for various applications by leading manufacturers are expected to influence the demand for corrosion monitoring in the Asia-Pacific region during the forecast period.
The break-up of primary interviews is given below:
- By Company Type - Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
- By Designation - C level – 60%, Director level – 15%, and Others – 25%
- By Region - North America – 30%, Europe – 30%, Asia-Pacific – 25%, and RoW - 15%
The key companies profiled in this report are Intertek (U.K.), SGS SA (Switzerland), Cosasco (U.S.), Korosi Specindo (Indonesia), Rysco Corrosion Services (Canada), BAC Corrosion Control (U.K.), Applied Corrosion Monitoring ( U.S.), Permasense (U.K.), ICORR Technologies (U.S.), and Pyramid Technical Services (India).
KEY TARGET AUDIENCE:
• Corrosion monitoring technology providers
• Corrosion monitoring equipment manufacturers
• Corrosion monitoring equipment end-use industries
• Government and regulatory organizations
• Investment research firms
SCOPE OF THE REPORT:
This research report segments the global corrosion monitoring market on the basis of type, technique, end-use industry, and region.
On the basis of type:
On the basis of technique
• Corrosion coupons
• Electrical resistance
• Linear polarization resistance
• Ultrasonic thickness measurement
On the basis of end-use industry:
• Oil & gas
• Power generation
• Pulp & paper
On the basis of region:
• North America
• South America
• Middle East & Africa
The market is further analyzed for the key countries in each of these regions.