A Study of Cathodic Protection Industry in Korea Based on Services and Impressed Current from 2024 to 2034
Rapid urbanization and manufacturing are driving the incorporation of cathodic protection into smart infrastructure. The emphasis on sustainability is also driving up demand for environmentally friendly solutions, particularly in renewable energy projects.
Cathodic Protection Demand in Korea from 2024 to 2034
In 2024, cathodic protection demand in Korea is anticipated to reach a value of US$ 178 million. The demand for cathodic protection in Korea is likely to expand with a 5% CAGR from 2024 to 2034. The industry is projected to attain US$ 289.9 million by 2034.
Attributes
Details
Industry size in 2024
US$ 178 million
Expected Industry size in 2034
US$ 289.9 million
Forecasted CAGR between 2024 to 2034
5%
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Key Insights that Promotes the Demand of Cathodic Protection in Korea
Sustainability initiatives- The need for environmentally friendly cathodic protection systems is being driven by the Korean government initiatives that support sustainable practices in infrastructure development. Greener materials and methods are becoming more prevalent, bolstering the demand for cathodic protection solutions.
Advancements in coatings- Modern coating technologies that improve the durability and efficiency of protection systems are trending in the Korean cathodic protection industry. The enhanced corrosion resistance of current coating innovations, such as nano-coatings and eco-friendly formulas, is making them popular.
Key Trends Influencing Demand for Cathodic Protection in Korea
There is a growing need for cathodic protection products and services in Korea due to the focus on renewable energy projects, especially offshore wind farms. Adoption of innovative corrosion prevention technology is stimulated by the need to protect assets in severe maritime conditions.
Cathodic protection is being included into smart infrastructure projects at an increasing pace in Korea. In order to enable more proactive as well as data-driven corrosion prevention techniques, this involves incorporating IoT sensors along with real-time monitoring systems.
The cathodic protection industry in Korea is adopting artificial intelligence (AI) and data analytics to improve corrosion protection system efficiency through predictive maintenance.
Key challenge
In the Korean industry, finding creative ways to match corrosion prevention techniques with sustainability is necessary to meet the challenge of balancing sophisticated protection requirements with environmentally friendly practices.
Global Cathodic Protection Market:
Attributes
Global Cathodic Protection Market
Forecast CAGR between 2024 to 2034
4.70%
Industry Size in 2024
US$ 1,302.70 million
Key trend
The use of IoT-enabled solutions along with remote monitoring is expanding in the global cathodic protection market, improving the management and real-time monitoring of corrosion prevention systems.
Key challenge
Finding affordable and eco-friendly cathodic protection materials is a continuous challenge in order to provide long-lasting and effective corrosion prevention solutions.
Cathodic Protection Ecosystem in Japan:
Attributes
Cathodic Protection Ecosystem in Japan
Forecast CAGR between 2024 to 2034
6.40%
Industry Size in 2024
US$ 448.1 million
Key trend
Demand for environmentally friendly cathodic protection systems is rising in Japan, with a focus on incorporating sustainable materials and methods to support the country's environmental stewardship efforts.
Key challenge
The cathodic protection industry in Japan faces a significant problem in balancing the needs of sustainable corrosion prevention techniques with the demands of conventional infrastructure.
Category wise Insights
Services are Anticipated to Gain traction from 2024 to 2034
In 2024, the services segment is likely to gain a share of 51.3% in Korea.
Solution Type
Services
Expected share in 2024
51.3%
In Korea, companies favor hiring specialists with expertise in cathodic protection services since they can provide customized solutions based on site-specific needs. Expert services include thorough evaluations, installation, design, and maintenance to guarantee system operation at its best. This strategy enables companies to follow industry guidelines, take advantage of the knowledge and experience of qualified specialists, and effectively handle corrosion issues. Since cathodic protection services offer a dependable and affordable way to prevent assets and vital infrastructure from deteriorating due to corrosion, there is still a considerable demand for them in Korea.
Impressed Current is Likely to be Sought After in Terms of Type
The impressed current segment in Korea cathodic protection industry is projected to garner a 61.3% share in 2024.
Type Segment
Impressed Current
Expected share in 2024
61.3%
The specific control that current systems provide over the protection process enables modification to various industrial and environmental situations that are common in the region. The capacity of the technology to continuously defend is essential for guaranteeing the uninterrupted safety of infrastructure assets in the changing industrial scenario in Korea.
The regional emphasis on innovative, high-tech solutions to satisfy changing industrial requirements has an impact on the choice for impressed current systems. This, together with the flexibility and adaptability of impressed current, makes them a popular option for cathodic protection within Korea.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Region wise Insights
Companies dealing with cathodic protection have made significant developments in two Korea regions, the North Jeolla and South Gyeongsang.
Regions Profiled
North Jeolla
South Gyeongsang
Increased Awareness towards Corrosion Prevention to Boost Growth
The strong infrastructure development and rising knowledge of corrosion prevention techniques in the region are driving the expansion of North Jeolla cathodic protection industry. In North Jeolla, sectors like utilities, petrochemicals, and transportation are giving cathodic protection first priority in order to extend the life of vital assets as demand for dependable and durable infrastructure grows.
The adoption of cathodic protection solutions is also influenced by regulatory measures that place a strong emphasis on environmental sustainability as well as infrastructure resilience. The combination of increased public awareness, increased infrastructure, and regulatory support fosters an environment that is favorable to the long-term growth in North Jeolla cathodic protection industry.
Advancements in Marine Technology and Renewable Energy to Push Growth in South Gyeongsang
Strong corrosion protection approaches are primarily required by the expanding maritime and offshore sectors in the region, which include shipbuilding and port infrastructure. The possibility of corrosion rises when an asset is close to saltwater, hence cathodic protection is essential for long-term longevity of the asset.
The status of South Gyeongsang as a major center for renewable energy initiatives, such as offshore wind farms, raises the demand for corrosion-resistant products and services. One other distinctive way that local government incentives support the development of sustainable infrastructure is via fostering it. These factors enable the growth of the cathodic protection sector in South Gyeongsang, which is aided by advancements in both renewable energy and marine technology.
Competitive Landscape
To get a competitive advantage, the key players in the Korea cathodic protection industry are utilizing strategic approaches. They are concentrating on ongoing research and development to offer advanced and novel approaches to corrosion avoidance. They are able to provide innovative goods and services while meeting consumer wants.
These companies are actively participating in strategic alliances and joint ventures with important industry participants, regional administrations, and infrastructure initiatives. Collaborations of this kind help them become more visible in the market, attract a wider range of clients, and get involved in significant national projects.
Some of the Important Players in Korea Dealing with Cathodic Protection
Corrstech Korea Ltd
Dong Yang Corrosion Eng
Aegion Corporation
BAC Corrosion Control Ltd
Cathodic Protection Co Ltd
CMP Europe
Farwest Corrosion Control Compan
Imenco AS
James Fisher
MATCOR Inc.
Recent Developments Observed in Korea Cathodic Protection Ecosystem
Company
Product Portfolio
BAC Corrosion Control
Cathodic protection as well as corrosion prevention are the areas of expertise of this company.
They offer goods and services to a range of sectors, such as infrastructure, utilities, and the oil and gas industry.
Matcor Inc.
Matcor is a pioneer in the cathodic protection along with corrosion avoidance industries.
Sacrificial anode cathodic protection and impressed current cathodic protection systems are a few of the many products and services they provide.
Scope of the Report
Attribute
Details
Estimated Industry Size in 2024
US$ 178 million
Projected Industry Size in 2034
US$ 289.9 million
Attributed CAGR between 2024 and 2034
5%
Historical Analysis of Demand for Cathodic Protection in Korea Countries
2019 to 2023
Forecast Period
2024 to 2034
Report Coverage
Industry size, industry trends, analysis of key factors influencing cathodic protection in Korea, insights on global players and their industry strategy in Korea, ecosystem analysis of local and regional Korea providers
Key Countries within Korea Analyzed while Studying Opportunities for cathodic protection in Korea
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
Corrstech Korea Ltd
Dong Yang Corrosion Eng
Aegion Corporation
BAC Corrosion Control Ltd
Cathodic Protection Co Ltd
CMP Europe
Farwest Corrosion Control Company
Imenco AS
James Fisher
MATCOR Inc.
Key Segments
By Solution:
Products
Anodes
Power Supplies
Junction Boxes
Test Stations
Remote Monitors
Coating
Instrumentation
Others
Services
Inspection
Design & Construction
Maintenance
By Type:
Galvanic (Sacrificial Anodes)
Impressed Current
By Application:
Pipelines
Storage Facilities
Processing Plants
Water & Wastewater
Transportation
Bridges
Airports
Fuelling Systems
Metros
Building
Others
By Region:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
In 2024, what will be the demand for Cathodic Protection in Korea?
The demand for cathodic protection is poised to reach US$ 178 million by 2024.
What will be the overall value share of cathodic protection in Korea by 2034?
In 2034, the total value of the cathodic protection industry in Korea is predicted to reach US$ 289.9 million.
What is the expected growth rate of the Korea cathodic protection industry?
From 2024 to 2034, the Korea cathodic protection industry is likely to garner a 5% CAGR.
Which solution type of Cathodic Protection is likely to gain popularity?
The services segment is likely to take up 51.3% shares in 2024.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Solution
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2024 to 2034
5.3.1. Products
5.3.1.1. Anodes
5.3.1.2. Power Supplies
5.3.1.3. Junction Boxes
5.3.1.4. Test Stations
5.3.1.5. Remote Monitors
5.3.1.6. Coating
5.3.1.7. Instrumentation
5.3.2. Services
5.3.2.1. Inspection
5.3.2.2. Design & Construction
5.3.2.3. Maintenance
5.4. Y-o-Y Growth Trend Analysis By Solution, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Solution, 2024 to 2034
6. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2024 to 2034
6.3.1. Galvanic (Sacrificial Anodes)
6.3.2. Impressed Current
6.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034
7. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Application, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2024 to 2034
7.3.1. Pipelines
7.3.2. Storage Facilities
7.3.3. Processing Plants
7.3.4. Water & Wastewater
7.3.5. Transportation
7.3.6. Bridges
7.3.7. Airports
7.3.8. Fuelling Systems
7.3.9. Metros
7.3.10. Building
7.3.11. Others
7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034
8. Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Solution
9.2.2. By Type
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Solution
9.3.2. By Type
9.3.3. By Application
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Solution
10.2.2. By Type
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Solution
10.3.2. By Type
10.3.3. By Application
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Solution
11.2.2. By Type
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Solution
11.3.2. By Type
11.3.3. By Application
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Solution
12.2.2. By Type
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Solution
12.3.2. By Type
12.3.3. By Application
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2019 to 2023 and Forecast 2024 to 2034
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Solution
13.2.2. By Type
13.2.3. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Solution
13.3.2. By Type
13.3.3. By Application
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Solution
14.3.3. By Type
14.3.4. By Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Corrstech Ltd
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Dong Yang Corrosion Eng
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Aegion Corporation
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. BAC Corrosion Control Ltd
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Co Ltd
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. CMP Europe
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Farwest Corrosion Control Compan
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Imenco AS
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. James Fisher
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. MATCOR, Inc
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used17. Research Methodology
