Despite quite a few predictions of a potential global economic recession, Dexon Technology’s chief government Mallika Kaekla is assured that the company’s strategy to expand overseas will help boost income this year.
Established in 1996 close to the Map Ta Phut industrial property in Rayong province, Dexon Technology initially supplied engineering inspection companies for the vitality and petrochemical sectors, making certain efficiency and safety in pipeline methods and offshore petroleum production pipelines, also called risers.
“Our core business entails examinations of crude oil and natural gas pipelines, in addition to water and chemical storage tanks,” Kaekla, forty two years previous, explained. “Our firm additionally develops progressive technology utilised for inspecting constructions and production tools across various industries.”
Inexpensive utilises a testing methodology known as non-destructive testing (NDT), a method for inspecting and evaluating supplies, parts, or assemblies without compromising their serviceability, in accordance with the American Society for Nondestructive Testing. The firm primarily depends on two types of NDT: standard non-destructive testing (CNDT), which combines inspecting gear with inspectors’ evaluation, and superior non-destructive testing, which makes use of software program to provide 2D and 3D simulations of inspection outcomes, together with rope routing techniques to access hard-to-reach inspection factors.
“Advanced inline inspection is the technique used for analyzing pipelines and can additionally be the main source of our revenue,” Kaekla said, including that 65% of the company’s income comes from the domestic market and 35% from abroad.
Kaekla believes that Dexon is unlikely to be affected by the output reduction agreed upon by the OPEC+ group of oil-exporting nations since global demand for gear and pipeline inspection is predicted to develop steadily. According to Fortune Business Insights data, the worldwide Pipeline Integrity Management market size reached US$8.sixty five billion in 2020 while North America accounted for US$5.forty two billion. The worldwide market is projected to develop from US$8.eighty billion in 2021 to US$11.2 billion by 2028 at a compound annual development fee of three.6% between 2021 and 2028.
Kaekla famous that Dexon is in the strategy of increasing its business within the US and Europe, the place it has a registered subsidiary firm in the Netherlands. The company just lately listed on the Market for Alternative Investment to raise over 550 million baht in new capital, with about 120 million baht earmarked for abroad expansion.
Dexon expects its revenue to grow by 15-20% in 2023, with its worldwide enlargement increasing its revenue to 750 million baht, up from 610 million baht reported final year.
“Due to consistently excessive market demand, our quarterly performance growth this yr continues to enhance as anticipated,” Kaekla commented.
Furthermore, Dexon plans to increase its inspection providers to green-energy sectors, capitalising on the company’s know-how and developing new options to fulfil international demand, notably within the US, where the conversion of renewables like hydrogen results in extra technical challenges in pipelines compared to carbon or gasoline.
The International Energy Agency’s World Energy Outlook forecasts that oil demand will continue to say no between 2030 and 2040, with coal demand dropping additional in 2025 due to the transition toward clean vitality and reductions in greenhouse fuel emissions..