Global Corrosion Monitoring Market – Industry Trends and Forecast to 2031

Corrosion Monitoring Market Analysis and Size

The corrosion monitoring market employs various techniques, including electrochemical, ultrasonic, and visual inspection methods, to detect and prevent corrosion in industrial equipment, pipelines, and infrastructure. It ensures asset integrity, minimizes downtime, and enhances safety across sectors such as oil and gas, marine, aerospace, and manufacturing.

Data Bridge Market Research analyses that the global corrosion monitoring market, which was USD 349.94 million in 2023, is expected to reach USD 800.67 million by 2031, growing at a CAGR of 10.9% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Corrosion Monitoring Market Scope and Segmentation  

Market Definition

Corrosion monitoring systems are vital for high-risk environments, including areas with frequent use of corrosion inhibitors and processes prone to corrosion. These systems ensure safety standards in batch productions by detecting and mitigating corrosion risks, safeguarding equipment integrity, and preventing potential hazards associated with corrosive substances and processes.

Global Corrosion Monitoring Market Dynamics

Drivers

• Increasing Awareness to Lessen Accidents in Oil and Gas Industries

The oil and gas industries are experiencing a surge in awareness regarding corrosion prevention to mitigate accidents. The escalating demand for corrosion monitoring in refineries aims to mitigate risks associated with storage tank and pipeline failures. This monitoring facilitates early detection of corrosion rates, measures wall thickness loss, validates corrosion control efficacy, and extends equipment lifespan, fostering market growth.

• Growing demand for Corrosion Monitoring Owing to their Multiple Advantages

The escalating demand for corrosion monitoring is propelled by its numerous benefits across equipment parts, process units, and facilities. These systems provide early warnings of potential corrosion-induced failures, analyze the correlation between process variables and corrosivity, and furnish valuable maintenance insights to management. Consequently, the market for corrosion monitoring experiences sustained growth driven by these factors.

Opportunities

• Growing Integration of Advanced Technology with Corrosion Monitoring Techniques

The integration of advanced technology with corrosion monitoring techniques is driving market growth, reducing downtime and enhancing productivity. Adoption of sensor devices with wireless communication enables real-time in-situ data acquisition, improving corrosion vulnerability assessment. This convergence offers unified systems, fostering market expansion and creating opportunities for efficient corrosion prevention and maintenance strategies.

• Increasing Adoption of Remote Corrosion Monitoring System

The increasing adoption of remote corrosion monitoring systems drives significant market growth across diverse industries. These systems offer reliable and repeatable results, resolving issues linked to manual measurements. Additionally, they provide high-quality data in user-friendly formats, enhancing accessibility for non-experts. Consequently, demand for remote corrosion monitoring systems rises, fueling market expansion during the forecast period.

Restraints/Challenges

• High Maintenance and Deployment Costs in Medium and Small Enterprises

Budget constraints among medium and small enterprises hinder adoption, as high prices limit widespread usage of corrosion monitoring solutions. This results in restricted deployment and fewer measuring points, impeding market expansion. Substantial maintenance and deployment expenses further act as significant barriers to market growth.

• Dearth in the Presence of a Skilled Workforce

Inadequate training hinders the implementation and upkeep of monitoring systems, hindering data accuracy and infrastructure integrity. This shortage of skilled personnel presents a significant challenge for the corrosion monitoring market, hampering growth and diminishing the overall efficacy of corrosion monitoring solutions.

This global corrosion monitoring market,  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global corrosion monitoring market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2021, Olympus launched its D.C. series transducers, providing a comprehensive corrosion monitoring solution for tank and pipeline integrity across energy, oil and gas, and mining sectors. These transducers complement ultrasonic inspection procedures and various NDT instruments, enhancing corrosion detection and maintenance efficiency
• In 2021, Emerson launched an erosion and corrosion monitoring portfolio with digital capabilities tailored for oil and gas processing. This portfolio transforms offline corrosion probes into online tools, enabling real-time monitoring of erosion and corrosion risks, optimizing asset integrity management in demanding operational environments
• In 2021, Saudi Aramco Energy Ventures made an investment in predictive corrosion monitoring technology, CorrosionRADAR. This funding infusion empowers CorrosionRADAR to expand its operations and tackle challenges such as Corrosion under Insulation (CUI) through digitalization, advancing predictive maintenance capabilities and enhancing asset reliability for the industry

Global Corrosion Monitoring Market Scope

The global corrosion monitoring market, is segmented on the basis of type, technique type, method type, probe type, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Uniform
• Localized

 Technique Type

• Intrusive Techniques
• Non- Intrusive Techniques
• Corrosion Coupons
• Electrical Resistance
• Linear Polarization Resistance
• Galvanic Monitoring
• Ultrasonic Thickness Measurement
• Biological Monitoring
• Hydrogen Penetration Monitoring
• Power Generation
• Manufacturing
• Others

 Method Type

• Direct Methods
• Indirect Methods

 Probe Type

• Electrical
• Mechanical
• Electro-Chemical

End User

• Oil and Gas
• Chemicals/Petrochemical Plants
• Pulp and Paper
• Water/ Wastewater and LNG
• Utility
• Mining
• Construction
• Pharmaceutical
• Food and Beverages
• Others
• Marine
• Aerospace and Defense

Global Corrosion Monitoring Market Regional Analysis/Insights

The global corrosion monitoring market is analysed and market size insights and trends are provided by type, technique type, method type, probe type, and end user as referenced above.

The countries covered in the global corrosion monitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America is expected to dominate the corrosion monitoring market, driven by the rise in shale gas exploration activities in the region. This trend amplifies the demand for corrosion monitoring solutions to ensure the integrity of infrastructure in the energy sector.

Asia-Pacific is expected to witness significant growth in the market from 2024 to 2031, driven by rising industrial activities in the region. Increased infrastructure development and expansion projects contribute to the growing demand for corrosion monitoring solutions.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Corrosion Monitoring Market Share Analysis

The global corrosion monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global corrosion monitoring market.

Some of the major players operating in the global corrosion monitoring market are:

• Corr Instruments, LLC, (U.S.)
• Pepperl+Fuchs, (Germany)
• ACM Instruments, (U.K.)
• ICORR Technologies, (U.K.)
• Sentry Equipment Corp., (U.S.)
• BERKELEY SPRINGS INSTRUMENTS (U.S.)
• Matergenics Inc., (U.S.)
• CLAMPON AS, (Norway)
• Applus+, (Spain)
• Aegion (U.S.)
• SGS Société Générale de Surveillance SA. (Switzerland)
• Cosasco, (U.S.)
• METEX CORPORATION LIMITED (U.K.)
• Luna, (U.S.)
• Emerson Electric Co., (U.S.)
• Yokogawa Electric Corporation, (Japan)
• Rysco Corrosion Services Inc., (Canada)
• Honeywell International Inc. (U.S.)
• Intertek Group plc, (U.K.)
• Stork (Netherlands)
• Baker Hughes Company, (U.S.)

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