Middle East & Africa Corrosion Under Insulation Monitoring Market to 2028 - By Size, Share, Growth by End User and Forecast

The MEA corrosion under insulation monitoring market is expected to grow from US$ 10.43 million in 2022 to US$ 20.44 million by 2028. It is estimated to grow at a CAGR of 11.9% from 2022 to 2028.

Rising Focus to Enhance Durability of Equipment in Food & Beverages Sector

Food processing is one of the largest manufacturing industries in the region and keeping an eye on corrosion is essential in this industry as it can serve as a source of unacceptably dangerous pollutants in the settings where food is being produced, endangering sanitation and product safety as well as lowering the reliability of machinery, which results in expensive downtime. Many food products need to be treated with chemicals such as sodium bisulfite, potassium bisulfate, and sodium sulfite or mixed with concentrated chemicals such chlorides and organic acids, which can prove extremely corrosive to metals. Food with acidic pH of 2–5, such as jams, sauces, and pickled vegetables, tend to react with metal and corrode the equipment. Preventing corrosion is an essential aspect of plant operations to avoid the significant expenses of equipment maintenance, replacement, and downtime caused due to corrosion damage. Corrosion damage within the insulation systems can be significantly decreased with the application of preventive measures such as opting for a timely inspecting and monitoring pipes and assets with CUI. As protective coatings can withstand corrosion, they do have limitations as they erode over a certain period, further triggering corrosion. Thus, the demand for corrosion under insulation monitoring is increasing to increase the life span of equipment, as these monitoring solutions help track corrosion rate.

Market Overview

In terms of geography, the MEA CUI monitoring market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. The region home 5 of the 10 top oil producing country across the globe and contributors about 27% of the total oil produced worldwide. MEA has the presence of both regional oil producing companies and international oil producers operating in the region through joint ventures and production-sharing agreements. According to the US department of energy, Middle East countries such as Saudi Arabia, Iran, Kuwait, Iraq, the UAE, Qatar, and Oman collectively has the presence of 367.3 billion barrels of oil and 16 trillion cubic meters of gas. Some of the major influencing the growth of the Middle East oil & gas sector include increasing government initiative to increase in oil & gas production and have national control over its reserves; increase in petroleum processing; rise in international energy-transportation industry participation; and increasing its natural oil reserves. These factors are contributing to the growth of the oil & gas sector across the region which is directly impacting the CUI monitoring market over the years. For instance, CorrosionRADAR Ltd in June 2021, signed a contract with Bureau Veritas to supply integrated solution to the region’s oil & gas companies to manage Corrosion Under Insulation (CUI). The MEA region is also having a rapidly growing chemical and petrochemical sector through foreign investments and favorable government initiatives. The region over the years have increased investments in terms of developing several chemical and petrochemical producing facilities. For instance, ADNOC and Reliance Industries in June 2021, signed a contract to set up a petrochemical plant in Abu Dhabi. The plant is expected to produce 1.1 million tons of ethylene dichloride, 940,000 tons of chlor-alkali, and 360,000 tons of PVC per annum. Additionally, the rising government initiative is also enhancing the growth of the sector. For instance, Kuwait is expected to start the development of its petroleum research center by the end of 2022 with an investment of US$ 120 million. These factors are expected to augment the growth of the region’s chemical and petrochemical sector, thereby positively impacting the overall MEA CUI monitoring market size.

MEA Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)

Get more information on this report

Middle East & Africa Corrosion Under Insulation Monitoring Strategic Insights

Strategic insights for the Middle East & Africa Corrosion Under Insulation Monitoring provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

strategic-framework/middle-east-and-africa-corrosion-under-insulation-monitoring-market-strategic-framework.webp

Get more information on this report

Middle East & Africa Corrosion Under Insulation Monitoring Report Scope

Report Attribute	Details
Market size in 2022	US$ 10.43 Million
Market Size by 2028	US$ 20.44 Million
Global CAGR (2022 - 2028)	11.9%
Historical Data	2020-2021
Forecast period	2023-2028
Segments Covered	By Component Hardware Software Services By End User Oil & Gas Marine Chemical & Petrochemical Energy & Power Food Processing Industries
Regions and Countries Covered	Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	3-Sci Limited Alabama Specialty Products, Inc. Cosasco Eddyfi Technologies Kaefer Group Mistras Group QSA Global, Inc. Testex, Inc.

Get more information on this report

Middle East & Africa Corrosion Under Insulation Monitoring Regional Insights

The geographic scope of the Middle East & Africa Corrosion Under Insulation Monitoring refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

geography/middle-east-and-africa-corrosion-under-insulation-monitoring-market-geography.webp

Get more information on this report

MEA Corrosion Under Insulation Monitoring Market Segmentation

The MEA corrosion under insulation monitoring market has been segmented based on component, end user, and country.
Based on component, the MEA corrosion under insulation monitoring market has been segmented into hardware, software, and services. The services segment held the largest market share in 2022. Based on end user, the MEA corrosion under insulation monitoring market has been segmented into oil & gas, marine, chemical and petrochemical, energy & power, food processing, and others. The oil & gas segment held the largest market share in 2022. Based on country, the MEA corrosion under insulation monitoring market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA. Saudi Arabia dominated the market share in 2022. 3-Sci Limited; Alabama Specialty Products, Inc.; Cosasco; Eddyfi Technologies; Kaefer Group; Mistras Group; QSA Global, Inc.; and Testex, Inc. are the leading companies operating in the MEA corrosion under insulation monitoring market.

Identical Market Reports with other Region/Countries