Cathodic Protection Demand in Korea from 2024 to 2034

In 2024, cathodic protection demand in Korea is anticipated to reach a value of US$ 178 million. The demand for cathodic protection in Korea is likely to expand with a 5% CAGR from 2024 to 2034. The industry is projected to attain US$ 289.9 million by 2034.

Attributes Details
Industry size in 2024 US$ 178 million
Expected Industry size in 2034 US$ 289.9 million
Forecasted CAGR between 2024 to 2034 5%

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Key Insights that Promotes the Demand of Cathodic Protection in Korea

  • Sustainability initiatives- The need for environmentally friendly cathodic protection systems is being driven by the Korean government initiatives that support sustainable practices in infrastructure development. Greener materials and methods are becoming more prevalent, bolstering the demand for cathodic protection solutions.
  • Advancements in coatings- Modern coating technologies that improve the durability and efficiency of protection systems are trending in the Korean cathodic protection industry. The enhanced corrosion resistance of current coating innovations, such as nano-coatings and eco-friendly formulas, is making them popular.

Key Trends Influencing Demand for Cathodic Protection in Korea

  • There is a growing need for cathodic protection products and services in Korea due to the focus on renewable energy projects, especially offshore wind farms. Adoption of innovative corrosion prevention technology is stimulated by the need to protect assets in severe maritime conditions.
  • Cathodic protection is being included into smart infrastructure projects at an increasing pace in Korea. In order to enable more proactive as well as data-driven corrosion prevention techniques, this involves incorporating IoT sensors along with real-time monitoring systems.
Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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Category wise Insights

Services are Anticipated to Gain traction from 2024 to 2034

In 2024, the services segment is likely to gain a share of 51.3% in Korea.

Solution Type Services
Expected share in 2024 51.3%

In Korea, companies favor hiring specialists with expertise in cathodic protection services since they can provide customized solutions based on site-specific needs. Expert services include thorough evaluations, installation, design, and maintenance to guarantee system operation at its best. This strategy enables companies to follow industry guidelines, take advantage of the knowledge and experience of qualified specialists, and effectively handle corrosion issues. Since cathodic protection services offer a dependable and affordable way to prevent assets and vital infrastructure from deteriorating due to corrosion, there is still a considerable demand for them in Korea.

Impressed Current is Likely to be Sought After in Terms of Type

The impressed current segment in Korea cathodic protection industry is projected to garner a 61.3% share in 2024.

Type Segment Impressed Current
Expected share in 2024 61.3%

The specific control that current systems provide over the protection process enables modification to various industrial and environmental situations that are common in the region. The capacity of the technology to continuously defend is essential for guaranteeing the uninterrupted safety of infrastructure assets in the changing industrial scenario in Korea.

The regional emphasis on innovative, high-tech solutions to satisfy changing industrial requirements has an impact on the choice for impressed current systems. This, together with the flexibility and adaptability of impressed current, makes them a popular option for cathodic protection within Korea.

Region wise Insights

Companies dealing with cathodic protection have made significant developments in two Korea regions, the North Jeolla and South Gyeongsang.

Regions Profiled

  • North Jeolla
  • South Gyeongsang

Increased Awareness towards Corrosion Prevention to Boost Growth

The strong infrastructure development and rising knowledge of corrosion prevention techniques in the region are driving the expansion of North Jeolla cathodic protection industry. In North Jeolla, sectors like utilities, petrochemicals, and transportation are giving cathodic protection first priority in order to extend the life of vital assets as demand for dependable and durable infrastructure grows.

The adoption of cathodic protection solutions is also influenced by regulatory measures that place a strong emphasis on environmental sustainability as well as infrastructure resilience. The combination of increased public awareness, increased infrastructure, and regulatory support fosters an environment that is favorable to the long-term growth in North Jeolla cathodic protection industry.

Advancements in Marine Technology and Renewable Energy to Push Growth in South Gyeongsang

Strong corrosion protection approaches are primarily required by the expanding maritime and offshore sectors in the region, which include shipbuilding and port infrastructure. The possibility of corrosion rises when an asset is close to saltwater, hence cathodic protection is essential for long-term longevity of the asset.

The status of South Gyeongsang as a major center for renewable energy initiatives, such as offshore wind farms, raises the demand for corrosion-resistant products and services. One other distinctive way that local government incentives support the development of sustainable infrastructure is via fostering it. These factors enable the growth of the cathodic protection sector in South Gyeongsang, which is aided by advancements in both renewable energy and marine technology.

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Competitive Landscape

To get a competitive advantage, the key players in the Korea cathodic protection industry are utilizing strategic approaches. They are concentrating on ongoing research and development to offer advanced and novel approaches to corrosion avoidance. They are able to provide innovative goods and services while meeting consumer wants.

These companies are actively participating in strategic alliances and joint ventures with important industry participants, regional administrations, and infrastructure initiatives. Collaborations of this kind help them become more visible in the market, attract a wider range of clients, and get involved in significant national projects.

Some of the Important Players in Korea Dealing with Cathodic Protection

  • Corrstech Korea Ltd
  • Dong Yang Corrosion Eng
  • Aegion Corporation
  • BAC Corrosion Control Ltd
  • Cathodic Protection Co Ltd
  • CMP Europe
  • Farwest Corrosion Control Compan
  • Imenco AS
  • James Fisher
  • MATCOR Inc.

Recent Developments Observed in Korea Cathodic Protection Ecosystem

Company Product Portfolio
BAC Corrosion Control
  • Cathodic protection as well as corrosion prevention are the areas of expertise of this company.
  • They offer goods and services to a range of sectors, such as infrastructure, utilities, and the oil and gas industry.
Matcor Inc.
  • Matcor is a pioneer in the cathodic protection along with corrosion avoidance industries.
  • Sacrificial anode cathodic protection and impressed current cathodic protection systems are a few of the many products and services they provide.

Scope of the Report

Attribute Details
Estimated Industry Size in 2024 US$ 178 million
Projected Industry Size in 2034 US$ 289.9 million
Attributed CAGR between 2024 and 2034 5%
Historical Analysis of Demand for Cathodic Protection in Korea Countries 2019 to 2023
Forecast Period 2024 to 2034
Report Coverage Industry size, industry trends, analysis of key factors influencing cathodic protection in Korea, insights on global players and their industry strategy in Korea, ecosystem analysis of local and regional Korea providers
Key Countries within Korea Analyzed while Studying Opportunities for cathodic protection in Korea South Gyeongsang, North Jeolla, South Jeolla, Jeju
Key Companies Profiled Corrstech Korea Ltd; Dong Yang Corrosion Eng; Aegion Corporation; BAC Corrosion Control Ltd; Cathodic Protection Co Ltd; CMP Europe; Farwest Corrosion Control Company; Imenco AS; James Fisher; MATCOR Inc.

Key Segments

By Solution:

  • Products
  • Anodes
  • Power Supplies
  • Junction Boxes
  • Test Stations
  • Remote Monitors
  • Coating
  • Instrumentation
  • Others
  • Services
  • Inspection
  • Design & Construction
  • Maintenance

By Type:

  • Galvanic (Sacrificial Anodes)
  • Impressed Current

By Application:

  • Pipelines
  • Storage Facilities
  • Processing Plants
  • Water & Wastewater
  • Transportation
  • Bridges
  • Airports
  • Fuelling Systems
  • Metros
  • Building
  • Others

By Region:

  • South Gyeongsang
  • North Jeolla
  • South Jeolla
  • Jeju

Frequently Asked Questions

In 2024, what will be the demand for Cathodic Protection in Korea?

The demand for cathodic protection is poised to reach US$ 178 million by 2024.

What will be the overall value share of cathodic protection in Korea by 2034?

In 2034, the total value of the cathodic protection industry in Korea is predicted to reach US$ 289.9 million.

What is the expected growth rate of the Korea cathodic protection industry?

From 2024 to 2034, the Korea cathodic protection industry is likely to garner a 5% CAGR.

Which solution type of Cathodic Protection is likely to gain popularity?

The services segment is likely to take up 51.3% shares in 2024.

Table of Content
1. Executive Summary
    1.1. Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Investment Feasibility Matrix
    3.5. PESTLE and Porter’s Analysis
    3.6. Regulatory Landscape
        3.6.1. By Key Regions
    3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034
    4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
    4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Solution
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2019 to 2023
    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2024 to 2034
        5.3.1. Products
            5.3.1.1. Anodes
            5.3.1.2. Power Supplies
            5.3.1.3. Junction Boxes
            5.3.1.4. Test Stations
            5.3.1.5. Remote Monitors
            5.3.1.6. Coating
            5.3.1.7. Instrumentation
        5.3.2. Services
            5.3.2.1. Inspection
            5.3.2.2. Design & Construction
            5.3.2.3. Maintenance
    5.4. Y-o-Y Growth Trend Analysis By Solution, 2019 to 2023
    5.5. Absolute $ Opportunity Analysis By Solution, 2024 to 2034
6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Type
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) Analysis By Type, 2019 to 2023
    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2024 to 2034
        6.3.1. Galvanic (Sacrificial Anodes)
        6.3.2. Impressed Current
    6.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023
    6.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034
7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Application
    7.1. Introduction / Key Findings
    7.2. Historical Market Size Value (US$ Million) Analysis By Application, 2019 to 2023
    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2024 to 2034
        7.3.1. Pipelines
        7.3.2. Storage Facilities
        7.3.3. Processing Plants
        7.3.4. Water & Wastewater
        7.3.5. Transportation
        7.3.6. Bridges
        7.3.7. Airports
        7.3.8. Fuelling Systems
        7.3.9. Metros
        7.3.10. Building
        7.3.11. Others
    7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023
    7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034
8. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
    8.1. Introduction
    8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
    8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
        8.3.1. South Gyeongsang
        8.3.2. North Jeolla
        8.3.3. South Jeolla
        8.3.4. Jeju
        8.3.5. Rest of Korea
    8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
        9.2.1. By Solution
        9.2.2. By Type
        9.2.3. By Application
    9.3. Market Attractiveness Analysis
        9.3.1. By Solution
        9.3.2. By Type
        9.3.3. By Application
    9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
        10.2.1. By Solution
        10.2.2. By Type
        10.2.3. By Application
    10.3. Market Attractiveness Analysis
        10.3.1. By Solution
        10.3.2. By Type
        10.3.3. By Application
    10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
        11.2.1. By Solution
        11.2.2. By Type
        11.2.3. By Application
    11.3. Market Attractiveness Analysis
        11.3.1. By Solution
        11.3.2. By Type
        11.3.3. By Application
    11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
        12.2.1. By Solution
        12.2.2. By Type
        12.2.3. By Application
    12.3. Market Attractiveness Analysis
        12.3.1. By Solution
        12.3.2. By Type
        12.3.3. By Application
    12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
        13.2.1. By Solution
        13.2.2. By Type
        13.2.3. By Application
    13.3. Market Attractiveness Analysis
        13.3.1. By Solution
        13.3.2. By Type
        13.3.3. By Application
    13.4. Key Takeaways
14. Market Structure Analysis
    14.1. Competition Dashboard
    14.2. Competition Benchmarking
    14.3. Market Share Analysis of Top Players
        14.3.1. By Regional
        14.3.2. By Solution
        14.3.3. By Type
        14.3.4. By Application
15. Competition Analysis
    15.1. Competition Deep Dive
        15.1.1. Corrstech Ltd
            15.1.1.1. Overview
            15.1.1.2. Product Portfolio
            15.1.1.3. Profitability by Market Segments
            15.1.1.4. Sales Footprint
            15.1.1.5. Strategy Overview
                15.1.1.5.1. Marketing Strategy
        15.1.2. Dong Yang Corrosion Eng
            15.1.2.1. Overview
            15.1.2.2. Product Portfolio
            15.1.2.3. Profitability by Market Segments
            15.1.2.4. Sales Footprint
            15.1.2.5. Strategy Overview
                15.1.2.5.1. Marketing Strategy
        15.1.3. Aegion Corporation
            15.1.3.1. Overview
            15.1.3.2. Product Portfolio
            15.1.3.3. Profitability by Market Segments
            15.1.3.4. Sales Footprint
            15.1.3.5. Strategy Overview
                15.1.3.5.1. Marketing Strategy
        15.1.4. BAC Corrosion Control Ltd
            15.1.4.1. Overview
            15.1.4.2. Product Portfolio
            15.1.4.3. Profitability by Market Segments
            15.1.4.4. Sales Footprint
            15.1.4.5. Strategy Overview
                15.1.4.5.1. Marketing Strategy
        15.1.5. Co Ltd
            15.1.5.1. Overview
            15.1.5.2. Product Portfolio
            15.1.5.3. Profitability by Market Segments
            15.1.5.4. Sales Footprint
            15.1.5.5. Strategy Overview
                15.1.5.5.1. Marketing Strategy
        15.1.6. CMP Europe
            15.1.6.1. Overview
            15.1.6.2. Product Portfolio
            15.1.6.3. Profitability by Market Segments
            15.1.6.4. Sales Footprint
            15.1.6.5. Strategy Overview
                15.1.6.5.1. Marketing Strategy
        15.1.7. Farwest Corrosion Control Compan
            15.1.7.1. Overview
            15.1.7.2. Product Portfolio
            15.1.7.3. Profitability by Market Segments
            15.1.7.4. Sales Footprint
            15.1.7.5. Strategy Overview
                15.1.7.5.1. Marketing Strategy
        15.1.8. Imenco AS
            15.1.8.1. Overview
            15.1.8.2. Product Portfolio
            15.1.8.3. Profitability by Market Segments
            15.1.8.4. Sales Footprint
            15.1.8.5. Strategy Overview
                15.1.8.5.1. Marketing Strategy
        15.1.9. James Fisher
            15.1.9.1. Overview
            15.1.9.2. Product Portfolio
            15.1.9.3. Profitability by Market Segments
            15.1.9.4. Sales Footprint
            15.1.9.5. Strategy Overview
                15.1.9.5.1. Marketing Strategy
        15.1.10. MATCOR, Inc
            15.1.10.1. Overview
            15.1.10.2. Product Portfolio
            15.1.10.3. Profitability by Market Segments
            15.1.10.4. Sales Footprint
            15.1.10.5. Strategy Overview
                15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology

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