Global Impressed Current Cathodic Protection For Oil And Gas Market Overview: 2020-2027

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Global Impressed Current Cathodic Protection for Oil and Gas Market Overview: 2020-2027

The global demand for the Impressed Current Cathodic Protection for Oil and Gas market is expected to grow at a CAGR of xx%, xx% xx%, and xx% respectively in Europe, North America, APAC, and the Middle East. The Impressed Current Cathodic Protection for Oil and Gas market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2027 at a CAGR of 5.5% from 2019 to 2027. Impressed current cathodic protection (ICCP) is a corrosion protection system consisting of sacrificial anodes connected to an external power source. The external power source, often a DC power supply, provides the current necessary to drive the electrochemical reaction required for cathodic protection to occur.

Global Impressed Current Cathodic Protection for Oil and Gas Market

There are two methods for applying CP, namely, sacrificial anode CP system and impressed CP system. CP can be achieved by using buried or immersed sacrificial anodes connected electrically to a structure/pipeline, which causes the corrosion potential to be lowered. The major difference between a sacrificial anode and an impressed current CP system that will determine the type of system chosen is the difference in the driving voltage attainable, and therefore, the current output. The function of a protective coating is to reduce the area of metal exposed to the electrolyte, which enables the current density required for CP to be greatly reduced. All sacrificial anode and impressed current CP systems are electrical circuits and so electrical measurements should be made to evaluate their activity.
Global Impressed Current Cathodic Protection for Oil and Gas Market Dynamics:

Lack of maintenance and aging infrastructure may pose a serious threat to undergrowth pipelines in the oil & gas industry, this is primarily caused by corrosion. Understanding its mechanism and how to control, it leads to reduce the operation cost of piping and static equipment. Cathodic Protection (CP) is one of the most widely used methods to control corrosion in industry. Cathodic Protection is a method that eliminates the corrosion of metals by the use of sacrificial anodes or the application of an electric current. Impressed Current Cathodic Protection is primarily used in underground tanks and pipelines, docks, aboveground storage tanks, ship hulls, ballast tanks, water tank interiors, sheet piling, bridge substructures, tube sheets, land, and water foundation piles, oil heater treaters, and reinforcing steel in concrete.

The adoption of these technologies in the oil & gas industry is increasing as it reduces reduce costs, maximizes asset availability, keeps personnel safe, and preserves the environment. In addition, oil & gas Industries have maximized their benefit by achieving an improved corrosion management system through the performance of an efficient cathodic protection system based on total life cycle corrosion economy. With the exploration of new oil & gas refineries and increasing production of oil & gas has boosted the demand for the Impressed Current Cathodic Protection market. However, the high costs needed for the maintenance process may slow down the growth of the impressive current cathodic protection for the oil and gas market. The market is boosted by increasing production of Oil & gas, investments in Oil & gas industry, and awareness towards safety management.

The report has profiled ten key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in Europe. Major country’s policies about manufacturing and their impact on Impressed Current Cathodic Protection for Oil and Gas demand are covered in the report.
Global Impressed Current Cathodic Protection for Oil and Gas Market Segment Analysis

Global Impressed Current Cathodic Protection for Oil and Gas Market

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The oil & gas industry segment is expected grow at a CAGR of xx% during the forecast period.

By end-use, in 2019, the global oil & gas industry segment was xx% and it is estimated to reach USD$ XX Mn by 2027. Increasing production of oil & gas, as well as increasing spending on safety management, are driving the market growth. The global processes of exploration, extraction, refining, transporting, and marketing of petroleum products in the largest volume have made a positive impact on the supply of impressed current cathodic protection market.
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Global Impressed Current Cathodic Protection for Oil and Gas Market Regional Insights:

Global Impressed Current Cathodic Protection for Oil and Gas Market 1

Asia Pacific is expected to grow at a CAGR of xx% during the forecast period and is expected to reach xx% market share by 2027

In the Asia Pacific, the market growth is fuelled by the increasing demand for energy as there is growth in the import and export industry. With the development in the developing economies, it has led to an increase in transportation in the marine industry which has created many lucrative opportunities for the Impressed Current Cathodic Protection key players in the Asia Pacific. Increasing consumption of petrol, Oil & Gas Industry, and oil products in various end-use industries has fuelled the market growth.

The objective of the report is to present a comprehensive analysis of the Global Impressed Current Cathodic Protection for Oil and Gas market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Impressed Current Cathodic Protection for Oil and Gas market dynamics, structure by analyzing the market segments. The Global Impressed Current Cathodic Protection for Oil and Gas market gives a clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence which make the Global Impressed Current Cathodic Protection for Oil and Gas market report the investors’ guide.

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