The Europe corrosion under insulation monitoring market is expected to grow from US$ 25.04 million in 2022 to US$ 52.11 million by 2028. It is estimated to grow at a CAGR of 13.0% from 2022 to 2028.

Losses Caused by Corrosion-Related Damages
Corrosion is the gradual breakdown of a substance because of its exposure to various conditions in its surroundings; the process is more common in metallic alloys. It is a commonly associated event with the processing of petroleum and natural gas. Losses in Economic cycles caused by corrosion that have an impact on the environment are expected to take toll on the production and consumption of materials for industrial development. Metallic pipelines or storage and handling equipment undergo corrosion when their surfaces meet water or humidity. It can happen anywhere on the susceptible components, but the degradation process typically initiates in the area where water penetration occurs and come into with metal contact creating a corrosion cell. The presence of corrosion products such as copper and lead, which are partially soluble in water in their ionic forms, is harmful to consumers. In general, the extent of corrosion depends on metal type, ionic makeup, and ph. The wear and corrosion of metal underneath a corroded deposit or in its immediate vicinity in pipes, ducts, tanks, preheaters, boilers, and other metal structures in insulated heat exchange systems is one of the most frequent challenges faced in various industries. Although metal anti-corrosion products and different protective coatings are available to protect the metals from corrosion, users find it particularly difficult to detect and protect the inner surfaces of metallic components or equipment due to multiple layers or external jacketing systems, among others. When the ability of insulation losses insulating properties, glass fiber or asbestos coatings are employed in these situations. Different types of coatings, including insulation coatings, are susceptible to corrosion damage. It is difficult to choose type of insulation when weighing a huge number of benefits and drawbacks related to installation, operation, cost, and corrosion protection. High losses caused by corrosion are one of the key factors boosting the demand for corrosion under insulation monitoring solutions across the region.

Market Overview
The Europe corrosion under insulation (CUI) monitoring market comprises of Germany, Italy, France, the UK, Russia, and rest of Europe. According to European Union (EU) report, the petroleum refining sector plays an important role in contributing to European economies. The region has decided to end the imports of oil & gas and other fossil fuels from Russia due to political reasons. This will increase the development of new oil & gas pipelines. A natural gas pipeline project is under development in the region. This offshore/onshore natural gas pipeline project of 1900 km Eastern Mediterranean (EastMed) will connect EastMed resources of energy to Greece via Crete and Cyprus. The US$ 6.86 billion project will supply natural gas from Grecce’s off shore gas reserves and in conjunction with Gas Interconnector Greece-Bulgaria (IGB) and Poseidon pipelines into several European countries such as Italy. Such projects will bring lucrative opportunities for the corrosion under insulation (CUI) monitoring market in the region. Further, Germany is one of strongest country in the region in terms of economy, followed by the UK. Germany imports crude oil via four transnational pipelines through the ports of Wilhelmshaven, Hamburg, Brunsbuttel, and Rostock. These pipelines are operated by the joint ventures of several petroleum giants and owned by petroleum refining industry. Moreover, the UK bears losses of approximately US$ 28 billion every year due to corrosion. CUI poses a significant economic, operational and safety challenge for the oil & gas industry. Since 1984, around 20% of oil & gas incidents reported in the EU were associated with corrosion issues. In the North Sea, several assets are functioning beyond their expected working life and approximately 60% of the pipe failures were caused by the corrosion under insulation. The corrosion causes damage to equipment’s and oil refinery pipes which causes huge losses and downtime in production. So in order to avoid the costs, industries across the region are expected to adopt corrosion under insulation monitoring solutions in order to minimize replacement costs and failure issues.

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

Europe Corrosion Under Insulation Monitoring Market Segmentation

The Europe corrosion under insulation monitoring market has been segmented based on component, end user, and country.
Based on component, the Europe 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 Europe 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 Europe corrosion under insulation monitoring market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe. Russia dominated the market share in 2022. 3-Sci Limited; Alabama Specialty Products, Inc.; Cosasco; Eddyfi Technologies; iSensPro; Kaefer Group; Maxwell NDT; Mistras Group; QSA Global, Inc.; and Testex, Inc. are the leading companies operating in the Europe corrosion under insulation monitoring market.

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. Europe Corrosion Under Insulation Monitoring Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe 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 – Europe Analysis
6.1 Europe Corrosion Under Insulation Monitoring Market Overview
6.2 Europe Corrosion Under Insulation Monitoring Market Forecast and Analysis
7. Europe Corrosion Under Insulation Monitoring Market Analysis – By Component
7.1 Overview
7.2 Europe 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. Europe Corrosion Under Insulation Monitoring Market Analysis – By End User
8.1 Overview
8.2 Europe 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. Europe Corrosion Under Insulation Monitoring Market – Country Analysis
9.1 Overview
9.1.1 Europe: Corrosion Under Insulation Monitoring Market, by Key Country
9.1.1.1 Germany: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Germany: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.1.2 Germany: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.2 France: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 France: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.2.2 France: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.3 Italy: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.3.2 Italy: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.4 UK: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 UK: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.4.2 UK: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.5 Russia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.5.2 Russia: Corrosion Under Insulation Monitoring Market, by End user
9.1.1.6 Rest of Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Corrosion Under Insulation Monitoring Market, by Component
9.1.1.6.2 Rest of Europe: 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 iSensPro
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
11.5 Kaefer 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 Maxwell NDT
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 Mistras Group
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 Cosasco
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
11.9 QSA Global, Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Testex, Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index

LIST OF TABLES

Table 1. Europe Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Corrosion Under Insulation Monitoring Market, by Key Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 5. France: Corrosion Under Insulation Monitoring Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy: Corrosion Under Insulation Monitoring Market, by End user – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 10. UK: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: Corrosion Under Insulation Monitoring Market, by Component– Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe: Corrosion Under Insulation Monitoring Market, by End user– Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation

LIST OF FIGURES

Figure 1. Europe Corrosion Under Insulation Monitoring Market Segmentation
Figure 2. Europe Corrosion Under Insulation Monitoring Market Segmentation – By Country
Figure 3. Europe Corrosion Under Insulation Monitoring Market Overview
Figure 4. Europe Corrosion Under Insulation Monitoring Market, By Component
Figure 5. Europe Corrosion Under Insulation Monitoring Market, By Country
Figure 6. Europe – PEST Analysis
Figure 7. Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Europe Corrosion Under Insulation Monitoring Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Corrosion Under Insulation Monitoring Market Forecast and Analysis (US$ Million)
Figure 11. Europe Corrosion Under Insulation Monitoring Market Revenue Share, By Component (2021 and 2028)
Figure 12. Europe Hardware: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe Software: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Services: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Corrosion Under Insulation Monitoring Market Revenue Share, By End User (2021 and 2028)
Figure 16. Europe Oil & Gas: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Marine: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Chemical and petrochemical: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe Energy & Power: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Food Processing Industries: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Others: Corrosion Under Insulation Monitoring Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe: Corrosion Under Insulation Monitoring Market, by Key Country – Revenue (2021) (US$ ‘Million)
Figure 23. Europe: Corrosion Under Insulation Monitoring Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. Germany: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. France: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Italy: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. UK: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Russia: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Europe: Corrosion Under Insulation Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe corrosion under insulation monitoring market.
● Highlights key business priorities to assist companies to realign their business strategies
● The key findings and recommendations highlight crucial progressive industry trends in Europe corrosion under insulation monitoring market, thereby allowing players across the value chain to develop effective long-term strategies
● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
● Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the corrosion under insulation monitoring market, as well as those hindering it
● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

The List of Companies – Europe Corrosion Under Insulation Monitoring Market

● 3-Sci Limited
● Alabama Specialty Products, Inc.
● Cosasco
● Eddyfi Technologies   
● iSensPro
● Kaefer Group
● Maxwell NDT
● Mistras Group  
● QSA Global, Inc.
● Testex, Inc.

At 13.0% CAGR, the Europe Corrosion Under Insulation Monitoring Market is speculated to be worth US$ 52.11 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Europe corrosion under insulation monitoring market was valued at US$ 25.04 million in 2022 and is expected to reach US$ 52.11 million by 2028, registering an annual growth rate of 13.0% from 2022 to 2028. Increasing demand from oil & gas sector and rising investment and losses caused by corrosion-related damages are the critical factors attributed to the market expansion.

Geothermal, water treatment, automotive, healthcare, and chemical industries, among others, exhibit a continuous need for systems to monitor corrosion under insulation. Metal structures corrode due to the penetration of the water through the leaks. Therefore, corrosion erosion issues are common with insulated pipes and vessels meeting water or liquid. Thus, increasing investment in the oil and gas industry is driving the market growth, as with an expanding oil and gas industry the demand for CUI monitoring will also rise. Production and exploration activities are expanding due to the increased energy demand and profitable investment possibilities in the oil & gas sector. There are several economically emerging countries across the region. These countries have humid and tropical climates throughout the year; metal corrodes at a quicker pace in such environments. This occurs because of a reaction between oxygen and electrons on the metal’s surface and the moisture-saturated air. In general, metal components corrode more quickly if they are exposed to humid air for a longer period. This type of corrosion is common in climates when the moisture content in the air approaches critical humidity or the point at which water no longer evaporates or gets absorbed from the atmosphere. Most of the time, this occurs at 80% relative humidity (RH). Furthermore, the gradual difference between ambient temperature and temperature required for condensation creates conditions suitable for corrosion. Thus, the growing industrial sector in having such climatic conditions is bolstering the corrosion under insulation monitoring market growth.

On the contrary, requirement of skilled personnel and technical expertise hurdles the growth of the Europe corrosion under insulation monitoring market.

Based on component, the Europe corrosion under insulation monitoring market has been segmented into hardware, software, and services. The services segment held 61.3% market share in 2022, amassing US$ 15.35 million. It is projected to garner US$ 30.19 million by 2028 to expand at 11.9% CAGR during 2022–2028. Based on end user, the Europe 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 65.1% market share in 2022, amassing US$ 16.30 million. It is projected to garner US$ 33.56 million by 2028 to expand at 12.8% CAGR during 2022–2028. Based on country, the Europe corrosion under insulation monitoring market has been categorized into the UK, Germany, France, Italy, Russia, and rest of Europe. Our regional analysis states that Russia captured 22.7% market share in 2022. It was assessed at US$ 5.69 million in 2022 and is likely to hit US$ 10.40 million by 2028, exhibiting a CAGR of 10.6% during the forecast period. Key players dominating the Europe corrosion under insulation monitoring market are 3-Sci Limited; Alabama Specialty Products, Inc.; Cosasco; Eddyfi Technologies; iSensPro; Kaefer Group; Maxwell NDT; Mistras Group; QSA Global, Inc.; and Testex, Inc. among others.

In 2022, Eddyfi Technologies announces that it has completed the acquisition of Zetec, a subsidiary of Roper Technologies, Inc. to expand their business across power generation, aerospace sector.

In 2020, 3-Sci Limited presented a wide range of wireless corrosion monitoring and CUI detection solutions at StocExpo exhibition at Rotterdam, Netherlands.