The SAM corrosion under insulation monitoring market is expected to grow from US$ 4.43 million in 2022 to US$ 8.28 million by 2028. It is estimated to grow at a CAGR of 11.0% from 2022 to 2028.
Growing 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
The SAM CUI monitoring market, based on geography is segmented into Brazil, Argentina, and rest of SAM. The region has a robust oil & gas industry with more than 7 million barrels of oil produced per day according to International Association of Oil & Gas Producers (IOGP). Venezuela and Brazil are the top oil producing country in the region. Additionally, the region is enriched by several offshore oil fields across countries like Brazil. According to U.S. Energy Information Administration (EIA), Brazil is among the world’s tenth largest oil producing country, producing approximately 2.5 million barrels of oil per day. Moreover, more than 90% of the oil produced by the country is extracted from offshore oil fields. Thus, the presence of large number of oil plants across the region is influencing the rise in need for CUI monitoring devices by the oil & gas sector. Additionally, the increasing trend of outsourcing of oil and gas maintenance services is further boosting the growth for the CUI monitoring services. These factors are therefore, augmenting the growth of the SAM CUI monitoring market. The SAM region also homes a rapidly growing food processing industry. Some of the major food processing companies present in the region include Queiroz Galvão Energias Renováveis, Anhambi Alimentos Ltda, Fundação Altino Ventura, Construtora E Incorporadora, Conterp, and Torre Empreendimentos amongst others. With the growing investment by regional and international food processing companies across the region, countries like Brazil and Argentina are experiencing rise in various food processing factories which are increasing the number of pipes being installed for carrying out various production processes. These pipes play a very crucial role in the manufacturing of food products, thereby requiring on time detection of corrosion. These factors are further contributing to the rise in demand for CUI monitoring devices and services across the region.
SAM Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
SAM Corrosion Under Insulation Monitoring Market Segmentation
The SAM corrosion under insulation monitoring market has been segmented based on component, end user, and country.
Based on component, the SAM 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 SAM 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 SAM corrosion under insulation monitoring market is segmented into Brazil, Argentina, and rest of SAM. Brazil 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 SAM corrosion under insulation monitoring market.
The List of Companies - South America Corrosion Under Insulation Monitoring Market
● 3-Sci Limited
● Alabama Specialty Products, Inc.
● Cosasco
● Eddyfi Technologies
● Kaefer Group
● Mistras Group
● QSA Global, Inc.
● Testex, Inc.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Corrosion Under Insulation Monitoring Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM Corrosion Under Insulation Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Losses Caused by Corrosion-Related Damages
5.1.2 Increasing Demand from Oil & Gas Sector and Rising Investment
5.2 Market Restraints
5.2.1 Requirement of Skilled Personnel and Technical Expertise
5.3 Market Opportunities
5.3.1 Rising Focus to Enhance Durability of Equipment in Food & Beverages Sector
5.4 Future Trends
5.4.1 Integration of AI with Corrosion Monitoring Systems
5.5 Impact Analysis of Drivers and Restraints
6. Corrosion Under Insulation Monitoring Market – SAM Analysis
6.1 SAM Corrosion Under Insulation Monitoring Market Overview
6.2 SAM Corrosion Under Insulation Monitoring Market Forecast and Analysis
7. SAM Corrosion Under Insulation Monitoring Market Analysis – By Component
7.1 Overview
7.2 SAM Corrosion Under Insulation Monitoring Market Breakdown, By Component (2021 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8. SAM Corrosion Under Insulation Monitoring Market Analysis – By End User
8.1 Overview
8.2 SAM Corrosion Under Insulation Monitoring Market Breakdown, By End User (2021 and 2028)
8.3 Oil & Gas
8.3.1 Overview
8.3.2 Oil & Gas: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.4 Marine
8.4.1 Overview
8.4.2 Marine: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.5 Chemical and Petrochemical
8.5.1 Overview
8.5.2 Chemical and petrochemical: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.6 Energy & Power
8.6.1 Overview
8.6.2 Energy & Power: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.7 Food Processing Industries
8.7.1 Overview
8.7.2 Food Processing Industries: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
9. SAM Corrosion Under Insulation Monitoring Market – Country Analysis
9.1 Overview
9.1.1 SAM: Corrosion Under Insulation Monitoring Market, by Key Country
9.1.1.1 Brazil: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.1.2 Brazil: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.2 Argentina: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Argentina: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.2.2 Argentina: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.3 Rest of SAM: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Rest of SAM: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.3.2 Rest of SAM: Corrosion Under Insulation Monitoring Market, by End user
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Product Launch
11. Company Profile
11.1 3-Sci Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Alabama Specialty Products, Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Eddyfi Technologies
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Kaefer Group
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Mistras Group
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Cosasco
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 QSA Global, Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Testex, Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
