Middle East and Africa Corrosion Monitoring Market, By Type (Intrusive and Non-Intrusive), Technique (Corrosion Coupons, Electrical Resistance, Linear Polarization Resistance, Galvanic Monitoring, Ultrasonic Thickness Measurement, Biological Monitoring, Hydrogen Penetration Monitoring, Others), Probe Type (Electrical, Mechanical, Electro-chemical), Method Type (Direct, Indirect), End-User (Oil and Gas, Chemicals/Petrochemical Plants, Manufacturing, Pulp and Paper, Power Generation, Water/ Wastewater and L.N.G. and Others) - Industry Trends and Forecast to 2030.
Middle East and Africa Corrosion Monitoring Market Analysis and Size
Continuous repair work and maintenance are two vital factors to guarantee the essential conditions of functionality, safety, and economy during the life cycle of infrastructures. However, the inefficiency or lack of these actions can significantly increase the deterioration of structures leading to more costly reparations. Corrosion is one of the costliest causes of the deterioration of concrete and metallic structures, leading to unexpected loss of life and significant financial losses. Thus, corrosion monitoring is important to the valuation structures' residual performance and identification of pathologies in the initial stages for predictive maintenance of facilities.
Data Bridge Market Research analyses that the corrosion monitoring market is expected to reach USD 87.48 million by 2030, which was USD 42.02 million in 2022, registering a CAGR of 9.60% during the forecast period of 2023 to 2030. 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.
Middle East and Africa Corrosion Monitoring Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Intrusive and Non-Intrusive), Technique (Corrosion Coupons, Electrical Resistance, Linear Polarization Resistance, Galvanic Monitoring, Ultrasonic Thickness Measurement, Biological Monitoring, Hydrogen Penetration Monitoring, Others), Probe Type (Electrical, Mechanical, Electro-chemical), Method Type (Direct, Indirect), End-User (Oil and Gas, Chemicals/Petrochemical Plants, Manufacturing, Pulp and Paper, Power Generation, Water/ Wastewater and L.N.G. and Others)
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Countries Covered
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Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.)
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Market Players Covered
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Intertek Group Plc (U.K.), General Electric (U.S.), FUJIFILM Corporation (Japan), Ashtead Group plc (U.K.), Socomore (U.S.), MISTRAS Group (U.S.), Olympus Corporation (Japan), Nikon Metrology Inc. (U.S.), Magnaflux (U.S.), Zetec Inc. (U.S.), Eddfyi (Canada), Sonatest (U.K.), SGS SA (Switzerland). Emerson Electric Co. (U.S.), Honeywell International Inc (U.S.), Baker Hughes Company (U.S.), ICORR Technologies (U.S.), ACM Instruments (U.A.E)
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Market Opportunities
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Market Definition
Corrosion monitoring refers to observing, probing, and assessing the change induced by the normal breakdown processes such as oxidation, crystallization, galvanic coupling reactions, atmospheric rusting, chemical solution, and many others, usually by implementing specific corrosion 'probing' techniques in infrastructures, bridges, plants, buildings, and other engineered systems. Corrosion monitoring aims to identify when and where there are indications that a product might become corroded and predict future risk levels for possible corrosion damage on the same product.
Middle East and Africa Corrosion Monitoring Market Dynamics
Drivers
- Increasing awareness to lessen corrosion-related accidents in oil and gas industries
Growing demand for corrosion monitoring in oil and gas refineries to reduce the accidental risks because of the storage tank or pipeline failure is expected to drive market growth. Furthermore, corrosion monitoring can warn of high corrosion rates, measure wall thickness loss, verify corrosion control's effectiveness, and support remnant life extension in the oil and gas industries. These factors also increase the market growth during the forecast period.
- Growing demand for corrosion monitoring due to their multiple advantages
The demand for corrosion monitoring increases due to its multiple advantages in equipment parts, process units, buildings, and facilities. These systems warn that damaging process situations may result in corrosion-induced failure. This system also examines the relationship between changes to process variables and their impact on the system's corrosivity. It also gives management information on the plant's maintenance needs and ongoing status. As a result of all these factors, the demand for corrosion monitoring increases, further boosting market growth.
Opportunities
- The growing integration of advanced technology with corrosion monitoring techniques
The growing integration of advanced technology with corrosion monitoring techniques to enhance productivity reducing downtime has contributed to the market growth and created ample opportunities within the market. Furthermore, increasing the adoption of numerous sensor devices incorporated into the data acquisition system associated with wireless communication to offer unisons in associated systems for gathering real-time in-situ information regarding components vulnerable to corrosion will further boost the market growth.
- Increasing adoption of remote corrosion monitoring system
The growing adoption of remote corrosion monitoring systems creates huge market growth potential for the product to grow in numerous industries during the forecast period. Adopting a remote corrosion monitoring system ensures reliable and repeatable results, and the issues associated with manual measurements can be resolved. Moreover, these systems generate high-quality data in a straightforward format that non-experts can understand. As a result, the demand for remote corrosion monitoring systems is increased, boosting the market growth.
Restraints/ Challenges
- High maintenance and deployment costs
The robustness of corrosion monitoring solutions requires high maintenance and deployment costs, likely hindering the market growth. Many medium and small enterprises are still unwilling to adopt this technology because of high budget constraints. The high price of corrosion monitoring systems leads to their high-class use with limited measuring points, which will further hamper the growth of the corrosion monitoring market.
- Dearth in the presence of a skilled workforce
The lack of skilled workforce and professionals in the corrosion monitoring market, which leads to higher resolution time in case of technical glitches, will be expected to hamper the growth of the corrosion monitoring market during the forecast period of 2023 to 2030.
This 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 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 revealed its new D.C. series transducers, offering a complete corrosion monitoring toolbox for tank and pipeline integrity in energy, oil & gas, and mining industries. This series of transducers work with ultrasonic inspection procedures and various NDT instruments.
- In 2021, Emerson launched an erosion and corrosion monitoring portfolio with digital capabilities to monitor the risk of erosion or corrosion in oil and gas processing. This monitoring portfolio changes existing offline corrosion probes into online tools to monitor the risk of erosion or corrosion in oil and gas processing.
Middle East and Africa Corrosion Monitoring Market Scope
The corrosion monitoring market is segmented on the basis of type, technique, probe type, method 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
- Intrusive
- Non-Intrusive
Technique
- Corrosion Coupons
- Electrical Resistance
- Linear Polarization Resistance
- Galvanic Monitoring
- Ultrasonic Thickness Measurement
- Biological Monitoring
- Hydrogen Penetration Monitoring
- Others
Probe Type
- Electrical
- Mechanical
- Electro-chemical
Method Type
- Direct
- Indirect
End-User
- Oil and Gas
- Upstream
- Midstream
- Downstream
- Chemicals/Petrochemical Plants
- Manufacturing
- Pharmaceutical
- Food
- Automotive
- Pulp and Paper
- Power Generation
- Conventional
- Unconventional
- Water/ Wastewater and L.N.G.
- Others
Corrosion Monitoring Market Regional Analysis/Insights
The corrosion monitoring market is analyzed and market size insights and trends are provided by country, type, technique, probe type, method type and end-user as referenced above.
The countries covered in the corrosion monitoring market report Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.)
Saudi Arabia dominates the corrosion monitoring market due to growing oil production, resulting in the expansion of pipelines in this region. Furthermore, increasing demand for monitor tools has aided the company in reducing the pipe's maintenance cost, further boosting the market growth.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like 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 Corrosion Monitoring Market Share Analysis
The 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 corrosion monitoring market.
Some of the major players operating in the corrosion monitoring market are:
- Intertek Group Plc (U.K.)
- General Electric (U.S.)
- FUJIFILM Corporation (Japan)
- Ashtead Group plc (U.K.)
- Socomore (U.S.)
- MISTRAS Group (U.S.)
- Olympus Corporation (Japan)
- Nikon Metrology Inc. (U.S.)
- Magnaflux (U.S.)
- Zetec Inc. (U.S.)
- Eddfyi (Canada)
- Sonatest (U.K.)
- SGS SA (Switzerland)
- Emerson Electric Co. (U.S.)
- Honeywell International Inc (U.S.)
- Baker Hughes Company (U.S.)
- ICORR Technologies (U.S.)
- ACM Instruments (U.A.E)
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