The Cathodic Protection Market is anticipated to flourish at an average CAGR of 5.2% between 2023 and 2033. The market is expected to hold a market share of USD 7.64 billion by 2033 while the market is likely to reach a value of USD 4.60 billion in 2023.
Cathodic protection is used by small to heavy industries to control and mitigate the effects of corrosion. Therefore, oil & gas, water & wastewater, and processing plants among others are key consumers of protection products and services.
East Asia accounts for a prominent share of the global cathodic protection market, which is led by China. The region accounts for a collective industry value worth more than USD 9 trillion. Also, the region is anticipated to gain 160 bps points throughout the forecast period.
According to FMI, corrosion damage accounts for between 3% and 5% of the gross national product (GNP) of industrialized nations. Moreover, an improved choice of corrosion prevention strategies, such as cathodic protection, is predicted to save one-third of the typical economy's annual cost of USD 300 billion caused by metal corrosion.
The need for technologies related to its prevention is rising at a significant rate with the increasing global cost of corrosion. For the prevention of any catastrophic events in industries, corrosion prevention, and control are essential. Cathodic protection is a globally used technique to control the corrosion of a metal surface in harsh environments.
The cathodic protection market is estimated to grow at a significant rate during the forecast period owing to its high efficiency and reliability supported by the increasing demand for corrosion prevention technologies to minimize the direct cost of corrosion. Moreover, the cathodic protection market holds around 12-18% of the global corrosion protection market share.
| Attributes | Details |
|---|---|
| Cathodic Protection Market CAGR (2023 to 2033) | 5.2% |
| Cathodic Protection Market Size (2023) | USD 4.60 billion |
| Cathodic Protection Market Size (2033) | USD 7.64 billion |
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From 2018 to 2022, the market witnessed a 3.6% CAGR and is estimated to foresee a Y-O-Y growth of 5.2% in 2022. A growing focus on maintaining pipeline and infrastructure quality is set to push the cathodic protection market in the forecast period also.
Leading manufacturers are focusing on providing battery-powered cathodic protection monitoring devices with GPS. The controller of the whole module adds dual-way communication which helps to receive commands and regulate peripheral devices for interrupting waveforms.
Increased use of spread spectrum radio technology, also known as frequency hopping is set to drive the market. This method uses wireless radio communication unlike licensed radios, which operate at a fixed frequency within a band.
As the name suggests, in this method, radio signals hop from frequency to frequency with high speed and in a well-sequenced manner. This method also allows multi-user usage to set up different networks within the same radio frequency band, which in turn, increases the narrow communication band application.
Additionally, this method helps end users of cathodic protection to install remote monitoring equipment without the worry of rental fees, licensing, and security among others.
High Demand for Industrial Production Index
The industrial production index (IPI) measures the output from manufacturing, mining, electric, and other industries, which are some of the key downstream segments in the market.
Growing output from these industries leads to high demand for corrosion protection services for existing infrastructure, as well as new construction to increase the productivity of processing plants.
The industrial production index is expected to witness high demand during the forecast period, which might lead to the creation of numerous growth opportunities for manufacturers present in the cathodic protection market.
Principal Consultant
The existing workforce serving the cathodic protection market, especially in today’s developed world, is aging quickly, and the replacement rate has been comparatively slow. Further, rendering services related to cathodic protection requires a highly skilled workforce with adequate knowledge, training, and experience.
There is no glam quotient attached to the sector, and attracting fresh talent may prove to be a complex task for the industry. The lack of skilled human resources available to serve the market may restrain growth to a certain extent. Further, the industry might need to develop partnerships and step up on-the-job training efforts to induct fresh hands into the sector.
| Country | Revenue Share % (2022) |
|---|---|
| The United States | 17.6% |
| Germany | 7.7% |
| Japan | 7.2% |
| Australia | 1.0% |
| Country | CAGR % (2023 to 2033) |
|---|---|
| China | 6.1% |
| India | 6.5% |
| The United Kingdom | 4.4% |
Government of India to Spend More Amount on Electrical Cathodic Protection
According to the International Zinc Association (IZA, 2021), India loses around 5-7% of its GDP annually due to just corrosion. The association has asked respective government entities to use rapid and proper control strategies for the same.
According to the International Monetary Fund (IMF), India is the significantly growing key economy globally from 2022 to 2024. Also, the country’s growth is primarily concentrated in the infrastructure and industrial sector, which remains the prominent end users for the cathodic protection market. Therefore, the country is anticipated to expand at a CAGR of 6.4% in the forecast period.
Deterioration of Water Pipes in the United States to Spur Demand for Zinc Cathodic Protection
The United States accounted for around 17.6% of the global cathodic protection market share in 2022. As per the report, it might cost about USD 2.1 trillion to replace over a million miles of deteriorated water and sewerage pipes all at once in the country.
Improved design, operation, and corrosion avoidance may have prevented 35 to 50 percent of this expenditure. Effective corrosion control procedures must be implemented and maintained to provide a long service life to pipe assets.
Cathodic protection is mandated by law for gas pipelines and hazardous liquid interstate pipelines built after the early 1970s in the United States. These requirements do not apply to water utilities, according to the US Pipeline and Hazardous Materials Safety Administration (PHMSA), as failures of water systems are frequently less severe than those of oil and gas pipelines.
The impact of water system breakdowns is still severe. To combat exterior corrosion and maintain the value of underground assets, water utilities have been investigating a range of ways.
The Presence of Old Engineering Structures in China to Push Sales of Cathodic Control Systems
China is expected to create an incremental opportunity of more than USD 581.9 million in the coming decade. Further, the country has experienced significant economic growth in recent years, which has been notably aided by advancements in heavy industries. The region is estimated to thrive at a CAGR of 6.1% between 2023 and 2033.
Corrosion problems are getting worse in these industries as a result of the widespread aging of existing engineering structures and the quick adoption of new materials. Therefore, establishing a sustainable and energy-efficient economy in the future might depend on increasing corrosion awareness and adequate corrosion control.
In light of this, the Chinese Academy of Engineering launched the "Study of the Corrosion Status and Control Strategies in China" in 2015. This important consulting project was led by the Institute of Oceanology of the Chinese Academy of Sciences and involved specialists from the Chinese Society for Corrosion and Protection.
This policy played an important role in the widespread usage of protection products and services in the country.
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| Category | By Type |
|---|---|
| Leading Segment | Galvanic |
| Market Share (2022) | 58.3% |
| Category | By Application Type |
|---|---|
| Leading Segment | Pipelines |
| Market Share (2022) | 22.0% |
Impressed Current Corrosion Protection Type to Gain High Popularity
By type, the impressed current is anticipated to expand at a CAGR of 5.4% throughout the forecast period and is estimated to create an absolute dollar opportunity worth USD 1924.5 million by 2032 in the global cathodic protection market. The galvanic type leads as it held a market share of 58.3% in 2022.
Impressed current is extensively used in pipelines, ship hulls, offshore production platforms, and water & wastewater treatment among others. One of the key merits of impressed current over galvanized anode is its high capacity. Additionally, big rough surfaces in onshore or offshore applications use this type extensively for protection against corrosion.
Cathodic Control Systems to be Used by Industries Having Pipelines
According to FMI, pipelines remain the top application in the global cathodic protection market. The segment held 22% of the global market share and gained 90 bps points in 2022.
Cathodic protection materials are extensively used in protecting pipelines across various industries. This method provides significant protection against corrosion and helps in saving repair & maintenance costs.
Suppliers of cathodic protection are focusing on developing new solutions for the changing infrastructure landscape around the world. A few other vendors are aiming to expand their distribution networks across various geographies and industry verticals. For instance,
Mitigating Corrosion Control through Cathodic Protection: Aegion, BAC, and Farwest Embrace Innovative Technology
Cathodic protection is widely used as a practical solution to prevent or delay the corrosion of metals. Fuel tanks, water tanks, and marine vessels are susceptible to corrosion, owing to which cathodic protection is provided to these structures.
Sensing the opportunities in this space, leading businesses are nowadays integrating the latest technology with their existing systems. To implement this, they are either creating new business units in their existing organizations or acquiring local firms that have the technological know-how. For instance,
As a part of its acquisition spree, Aegion also acquired Next Level Environmental, a reputed name in the field of underground and vacuum excavation services. Through this acquisition, Aegion is strengthening its rehabilitation and protection portfolio with a strong eye on cathodic protection services.
Leading providers are looking for opportunities in the lucrative pipeline and rehabilitation maintenance domain. For instance, Aegion acquired EN-TECH, a renowned provider of pipe maintenance and rehabilitation in June 2022 to boost its position in this space.
Launching new, innovative products that solve long-standing challenges is the business strategy of BAC Corrosion Control Ltd. The company continues to launch innovative products in various categories, such as rectifiers and pin brazing. It is also focusing on increasing its total production of cathodic protection units. In January 2022, it announced the opening of a new factory in Stafford Park 11, USA The factory might be dedicated to the production of cathodic protection power control units.
In a similar case, Farwest Corrosion Control Company, another leading provider, announced in January 2021 that it introduced a cutting-edge technology known as the Ref-Check VPR test instrument.
This instrument has been designed to ensure that there are no false or low potential readings in cathodic protection reference electrodes (CPRE). False or low potential readings have been a key concern for end users and this innovative technology can solve these issues.
The market held a value of USD 4.0 billion in 2022.
The market holds a value of USD 4.60 billion in 2023.
The market is anticipated to hold a share of USD 7.64 billion by 2033.
The market is expected to have a CAGR of 5.2% by 2033.
The galvanic segment leads the market as it held a market share of 58.2% in 2022.
The pipeline segment leads the market as it held a market share of 22.0% in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, 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 5.1.8. Others 5.2. Services 5.2.1. Inspection 5.2.2. Design & Construction 5.2.3. Maintenance 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 6.1. Galvanic (Sacrificial Anodes) 6.2. Impressed Current 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Pipelines 7.2. Storage Facilities 7.3. Processing Plants 7.4. Water & Wastewater 7.5. Transportation 7.5.1. Bridges 7.5.2. Airports 7.5.3. Fuelling Systems 7.5.4. Metros 7.6. Building 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Aegion Corporation 18.2. BAC Corrosion Control Ltd 18.3. Co Ltd 18.4. CMP Europe 18.5. Farwest Corrosion Control Company 18.6. Imenco AS 18.7. James Fisher 18.8. MATCOR, Inc 18.9. Nakabohtec Corrosion Protecting Co 18.10. The Nippon Corrosion Engineering Co 19. Assumptions & Acronyms Used 20. Research Methodology
Chemicals & Materials
October 2023
REP-GB-161
315 pages
Chemicals & Materials
September 2017
REP-GB-5002
170 pages
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Cathodic Protection Market
