Corrosion Monitoring Market to Expand with Significant CAGR During 2024
Corrosion is an electrochemical process that transforms metals and alloys into oxides, hydroxides, and aqueous salts. In the corrosion process, there are generally two types of reactions that take place. The first is the anodic reaction, in which reaction metal atoms are ionized and pass into solutions, leaving their electrons in the original metal. In the second process, the cathodic reaction, reduction takes place and metals are degraded by chemical reactions with O2 and H2O. Corrosion monitoring is the process of controlling and preventing of corrosion. In this process, the corrosion monitoring is done by using probes. The probes, which can be mechanical, electrical, and electromechanical, are inserted into the process stream and constantly exposed to the process stream. Corrosion monitoring techniques provide direct and online measurement of metal loss and corrosion rate in industrial process. There are a number of corrosion monitoring techniques being used in the industry to estimate metal loss and to take preventive measures such as weight loss coupons, electrical resistance, linear polarization, hydrogen penetration, galvanic current, and microbial. Weight loss coupons, electrical resistance, and linear polarization resistance are the most popular techniques used in industrial corrosion monitoring systems.
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Corrosion monitoring systems have applications where the risks of operation are high such as, in areas, where corrosion inhibitors are used and other processes involving high corrosion. The corrosion monitoring system is essential to maintain safety standards in batch productions, where corrosive component is concentrated due to repeated cycles. The oil & gas industry is the major application area for corrosion monitoring system. The oil & gas industry comprises upstream, downstream, and midstream industries and every stream is under strict scrutiny by regulators and environmental agencies. Thus, the industry needs a high level of safety and protection standards to increase their assets durability and a best practice to manage the corrosion-free environment. The need of corrosion monitoring system in oil & gas industry are essential in specific areas where accidental safety and prevention is highly important such as flow line, gathering system, transport pipeline, water injection facilities, vessels, chemical injection system, drilling mud system, etc. Increasing exploration & production of crude oil and rising demand from the downstream market is likely to propel the demand for corrosion monitoring system in the near future. Paper & pulp industry is another key market for corrosion monitoring in areas such as digesters and boiler systems.
Asia-Pacific has been the key region for corrosion monitoring system in the global corrosion monitoring market in 2015 followed by North America. The region is likely to demonstrate the significant growth during the forecast period due to rise in demand from the rapidly developing economies within the region such as India and China. The North America region is expected to maintain its share in the global corrosion monitoring market due to increasing shale gas exploration activities during the forecast period. Expansion of stabilizing chemical manufacturing industries is expected to support the same trend in North America for corrosion monitoring market. Increasing investment in oil & gas and chemical industry concerning the high safety standards are anticipated to boost the corrosion monitoring market during the forecast period.
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The key players operates in the corrosion monitoring market 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).
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