Analysis of Corrosion testing Services Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Fact.MR, corrosion testing market is set to witness steady growth during 2021-2031. Subscription of corrosion testing services across respective end-use industries is expected to occur at a sound rate with continued OPEX-based investments by the stakeholders.
Increasing industrialization is forecasted for raising the demand for industrial machinery and components. Market players in the field of services are offering corrosion testing for various fields such as soil corrosion, metal corrosion, corrosion due to gas and water, and others
Corrosion testing services are being sought to owe to the increasing concern of manufacturers about costs associated with metal corrosion on the existing equipment. To arrest any significant damage and replacement of the asset incurring a high sum of expenditure, the periodic monitoring, and inspection via designated service is estimated to accelerate the growth of the market.
A wide range of manufacturers is attracting towards corrosion tests for manufacturing critical components and other materials for various industries such as oil & gas, automotive, electronics, aerospace & defense, etc. Therefore, increasing demand for a wide range of applications is forecasted for boosting the growth of the corrosion testing services market.
Market participants and service providers are focusing on increasing their offering owing to significantly cover a wide range of end-users. Moreover, players are using high-tech testing equipment such as EM with EDX, EPMA, X-ray diffraction and OES, Hydrogen analysis, FT-IR with ATR, DSC, etc. for various corrosion testing. Moreover, local/regional players are prompting cost-effective testing analysis to gain a high customer base. Increasing development for various corrosion testing is estimated to shape the demand pattern.
Demand from established and upcoming oil & gas refineries & reserves is expected to boost the regional market for upstream, midstream, and downstream processes. While is the U.S. is believed to acquire a major share, Canada is expected to gain greater growth due to new investments and sales by the end stakeholder. Other industries are also expected to offer sound growth opportunities in the region.
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With the petrochemicals market gaining robust growth in the region, countries of East Asia are expected to be the key regional markets for undertaking corrosion testing services. Moreover, growth of water supply and distribution infrastructure in emerging economies of South Asia, the demand is expected to augment further generating continued subscription and penetration across various end-use verticals in the region.
Some of the leading manufacturers and suppliers include
The corrosion Testing Services market is fairly fragmented as a number of service providers and independent laboratories are offering different corrosion testing services according to international standards for various manufacturers of components/material manufacturers of industries. Various service providers are offering customized services according to particular industry standards. Also, a number of regional services providers and independent laboratories have started corrosion testing services in respective regions owing to high demand from end-use industries.
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On the basis of substrate type, the Corrosion Testing Services Market can be segmented as:
On the basis of end-use industries, the Corrosion Testing Services Market can be segmented as:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The corrosion testing services market is likely to grow at a CAGR of 13.66% during the forecast period
The market is expanding owing to the growing concern of manufacturers regarding costs related to metal corrosion on existing equipment.
Manufacturers are likely to find the most opportunities in North America.
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