In 2024, cathodic protection demand in Korea is anticipated to reach a value of USD 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 USD 289.9 million by 2034.
| Attributes | Details |
|---|---|
| Industry size in 2024 | USD 178 million |
| Expected Industry size in 2034 | USD 289.9 million |
| Forecasted CAGR between 2024 to 2034 | 5% |
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Principal Consultant
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.
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.
Companies dealing with cathodic protection have made significant developments in two Korea regions, the North Jeolla and South Gyeongsang.
Regions Profiled
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.
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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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.
Recent Developments Observed in Korea Cathodic Protection Ecosystem
| Company | Product Portfolio |
|---|---|
| BAC Corrosion Control |
|
| Matcor Inc. |
|
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 178 million |
| Projected Industry Size in 2034 | USD 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. |
The demand for cathodic protection is poised to reach USD 178 million by 2024.
In 2034, the total value of the cathodic protection industry in Korea is predicted to reach USD 289.9 million.
From 2024 to 2034, the Korea cathodic protection industry is likely to garner a 5% CAGR.
The services segment is likely to take up 51.3% shares in 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034 5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Solution 5.1. Products 5.1.1. Anodes 5.1.2. Power Supplies 5.1.3. Junction Boxes 5.1.4. Test Stations 5.1.5. Remote Monitors 5.1.6. Coating 5.1.7. Instrumentation 5.2. Services 5.2.1. Inspection 5.2.2. Design & Construction 5.2.3. Maintenance 6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Type 6.1. Galvanic (Sacrificial Anodes) 6.2. Impressed Current 7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. Pipelines 7.2. Storage Facilities 7.3. Processing Plants 7.4. Water & Wastewater 7.5. Transportation 7.6. Bridges 7.7. Airports 7.8. Fuelling Systems 7.9. Metros 7.10. Building 7.11. Others 8. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. South Gyeongsang 8.2. North Jeolla 8.3. South Jeolla 8.4. Jeju 8.5. Rest of Korea 9. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 10. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 11. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 12. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 13. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034 14. Market Structure Analysis 15. Competition Analysis 15.1. Corrstech Ltd 15.2. Dong Yang Corrosion Eng 15.3. Aegion Corporation 15.4. BAC Corrosion Control Ltd 15.5. Co Ltd 15.6. CMP Europe 15.7. Farwest Corrosion Control Company 15.8. Imenco AS 15.9. James Fisher 15.10. MATCOR, Inc 16. Assumptions & Acronyms Used 17. Research Methodology
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Cathodic Protection Industry Analysis in Korea
