The cathodic protection market is expected to record a steady CAGR of nearly 6.0% through 2028, to exceed revenues worth US$7,000 million. In 2017, the cathodic protection market surpassed revenues worth US$4,000 million.
The Asia-Pacific region is projected to lead the global cathodic protection market, underpinned by the requirement for corrosion protection systems, and services entailed by construction and infrastructure development activities, along with the maintenance activities associated with old structures.
Cathodic protection market will also witness significant growth opportunities in the Middle East and Africa, owing to surging demand from the industrial sectors, particularly in the oil and gas industry.
Cathodic protection by means of impressed current remains preferred among end-users. Revenues from the impressed current-based cathodic protection accounted for bulk shares of the market in 2018.
Demand for impressed current cathodic protection remains undergird by increasing demand for corrosion protection for underground pipelines and subsea pipelines in suburban and rural areas.
The top three factors shaping the cathodic protection market are: Growing infrastructure development activities worldwide; a marked rise in the construction and infrastructure development activities worldwide, particularly in the developing economies, along with the requirement for maintenance activities associated with the old infrastructure; additionally, government spending on the aging public infrastructure in developed economies has further created the demand for various construction consumables and equipment, and cathodic protection is no exception. As the number of infrastructure upgradation projects continue to rise worldwide, opportunities will rise for growth of the cathodic protection market in the near future.
According to a recent research, infrastructure spending is expected to grow at a significant rate in the foreseeable future, with almost 60% of infrastructure spending between 2018 and 2025 expected to be witnessed in the Asia Pacific region.
The trend has been increasingly pervasive in developing nations such as India and China. Such robust infrastructure spending by governments will significantly drive the demand for cathodic protection in the upcoming years.
In this issue, we give you a guide to cathodic protection written by a leading corrosion specialist. This, along with all the regular features and columns makes it an educative and informative volume.