Cathodic Protection Market Analysis, Segments, Leading Player, Application & Forecast till 2032

From 2022 to 2032, the cathodic protection market is projected to grow at a CAGR of 5.2. By 2032, this market will be valued at US$ 4,680.2 million rather than US$ 4,605.0 million as of 2022. Small and large industries both use cathodic protection extensively to prevent corrosion. The cathodic protection market will expand in the coming years due to rising demand from industry vertices like oil and gas, water and wastewater, and protection plants, among others. During the forecast period, it is predicted that East Asia will represent a sizable portion of the global cathodic protection market.

Corrosion prevention and control are essential elements to be considered for the prevention of disastrous circumstances in industries. Cathodic protection is one such element that is used all across the globe to manage the corrosion of metals in harsh environments. Furthermore, the increasing cost of corrosion all over the world has resulted in greater demand for better corrosion prevention strategies. Overall, corrosion damage accounts for about 3% to 5% of the gross national product (GNP) of industrialized nations. It is projected that the adoption of enhanced corrosion protection gears like cathodic protection will save about one-third of the annual cost of US$ 300 billion caused by metal corrosion.

Get a Sample Copy of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-6526

Due to its highly efficient and dependability, cathodic protection finds extensive application in multiple industries and is expected to account for about 12% to 18% of the global corrosion protection market share. This growth can be attributed to various trends positively influencing the cathodic protection market. High demand for industrial production index (IPI) is one such market trend that augments the global sales of the cathodic protection market. IPI measures the output from manufacturing, mining, electric, and other industries. Increasing output from these sectors results in surging demand for corrosion protection solutions. Thus, the high demand for IPI drives the growth of the cathodic protection market. However, a lack of skilled professionals will likely dampen the market growth during the projection period.

Key Takeaways:

Favorable government initiatives will drive the growth of the cathodic protection market in India.
Deterioration of water and sewage pipes will propel the cathodic protection market forward in the US.
China’s cathodic protection market will be driven by the progress of heavy industries.
By application, the pipeline segment will continue to dominate the global market.
Based on type, the impressed current segment will gain rapid traction during the forecast period.

Key Segments :

By Solution: