Global Corrosion Coupons Market: Introduction
With repair and maintenance constantly increasing due to corrosion, there has been growing demand for corrosion coupons that can easily measure the corrosivity of a system. Corrosion coupons accurately determine the corrosion of metals under various service conditions. When the corrosion coupon is exposed to environment/other service conditions, weight loss analysis is done to determine mils per year (MPY) corrosion rates. Corrosion monitoring is critical with respect to maintenance and repair costs and material failure. By evaluating the mils per year, the corrosion rate and the life expectancy of the material can be determined. The corrosion coupon is made of the same material, alloy or similar chemical configuration. Corrosion coupons provide an indication of the corrosion status and the type of deposits existing in the pipeline or system. Corrosion coupons are a popular method of internal corrosion monitoring.
Global Corrosion Coupons Market: Dynamics
There has been increasing demand from end users to extend the life of existing pipeline structures and to run them at higher capacity. High corrosion rate has led to failure of many systems. Thus, the need for corrosion coupons for corrosion monitoring is higher than ever.
The major factor driving the growth of global corrosion coupons market is the significant rise in demand from the oil and gas industry. The corrosion coupons are used to monitor the corrosivity of systems in all stages upstream, midstream and downstream.
The use of alternative methods, such as ultrasonic wall thickness sensors, is anticipated to witness significant growth over the forecast period. Growing preference for other methods, such as radiographic inspection using x-ray and gamma ray, is another major factor restraining the growth of the global corrosion coupons market.
Another major challenge faced by the global corrosion coupon market is the time interval for exposure, which is an important technical criteria. The time interval might be too short or too long and hence affects corrosivity. Seasonal or temperature variations may also affect the performance of corrosion coupons. Additionally, these systems add to the extra operational cost and time for ongoing maintenance.
The global market for corrosion coupons is a fragmented market with major manufacturers focusing on providing customized solutions for specific environmental conditions. The manufacturers provide full service; installation and inspection systems; alloy or material; the kind of coupon required; and all the technical know-how related to sustaining long term in the global corrosion coupons market.
Global Corrosion Coupons Market: Segmentation
The global Corrosion Coupons market can be segmented based on product type, end use industry and region.
On the basis of product type, the global Corrosion Coupons market can be segmented as:
On the basis of end use industry, the global corrosion coupons market can be segmented as:
Global Corrosion Coupons Market: Regional Outlook
The global market for corrosion coupons is anticipated to be dominated by Asia Pacific region. China is anticipated to remain the largest consumer of corrosion coupons in the Asia Pacific region owing to the significant demand from the chemical industry and pipelines transportation and monitoring, etc. Regions, such as North America, are projected to grow at a significant rate owing to the boom in the oil and gas industry in the region. Middle East and Africa is also anticipated to hold a considerable share in the global corrosion coupons market. This can be attributed to the large base of the oil and gas industry in the region. Europe is anticipated to expand with moderate CAGR over the forecast period. Latin America is anticipated to be a low volume high growth region and is expected to expand significantly during the forecast period. Japan, on the other hand, is anticipated to witness stagnant growth over the forecast period.
Global Corrosion Coupons Market: Participants
Examples of some of the market participants identified across the value chain of global Corrosion Coupons market are:
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