The Global Oil Gas Corrosion Protection Market is forecast to reach USD 12.50 Billion by 2027, according to a new report by Reports and Data. Over the projected period, the market is expected to experience substantial growth, mainly due to the growing need for transportation and supply infrastructure in the OG sector. This growth may be attributed to the extra advantages that epoxy-based coatings provides like reliability and strength. North America and MEA together acquired more than half of the total global market share. Rapid expansion of the infrastructure and technical developments in the OG sector are anticipated to augment demand further over the coming years.
A growing need for transportation or distribution facilities combined with rising global demand for electricity is growing demand for advanced materials, which would deter degradation in the atmosphere.For the export or procurement of crude oil, natural gas, and intermediate materials,in recent years, cheaper modes of transportation such as pipelines are increasing, is expected to boost market growth over the projected period.
Using corrosion resistance devices, however, can provide operators with safety and health problems. Because of these issues, various regulatory bodies such as OSHA, NACE, and others have placed stringent regulations on the health and usage of the goods by operators beyond such limits. NACE has established standards to accommodate methods that validate the quality of the coatings. It is internally and externally applied to pipelines that require repairs.
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Top Companies Listed in the Global Global Oil Gas Corrosion Protection Market Report:
3M Company, AkzoNobel N.V, Jotun A/S, Hempel A/S, Jotun A/S, Axalta Coating System Ltd., The Sherwin-Williams Company, Kansai Paints Co. Ltd., RPM International, Inc., and BASF SE, among others.
Further key findings from the report suggest
Globally, the upstream market is projected to see modest sales growth, rising between 2020 and 2027, at a rate of 4.4%. Demand rise can be attributed to increasing transportation/supply infrastructure needs in the OG sector along with growing energy demand worldwide.
North America led the global market in 2019 with an aggregate valuation of USD 2.87 billion and is expected to improve dramatically in the coming years in the light of inline infrastructure developments in the oil gas sector, such as refining plant construction, rig deployment, and others.
The MEA region is anticipated to witness the highest growth over the forecast period due to the burgeoning rise in Kuwait, Saudi Arabia, and UAE’s infrastructural development in oil production. The sector 's optimistic outlook is anticipated to result in regional business growth in the light of growing emphasis on research and development, along with favorable policy policies to encourage investment.
The oil gas industry uses these materials for various operations such as mining, shipping, and manufacturing in areas such as onshore and offshore. Protection of specific ferrous components at both offshore and onshore sites require attention as they get older and become more prone to the rusty climate.
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Market Overview:
A substance or mixture of substances that makes up an object is referred to as a material. Materials are used as inputs in manufacturing processes to create goods or more complex materials in industry. The chemical industry is made up of businesses that manufacture industrial chemicals. Chemical reactions and refining technologies are used in this industry to convert basic resources including oil, air, water, natural gas, metals, and minerals into over thousands of different products. The materials and chemicals sector trends range from solutions for lightweighting, sustainability, surface engineering, 3D printing, nano-formulations (biomaterials), and developing advanced composites to meet the current industry demands.
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Type Outlook
Coatings
Paints
Inhibitors
Others
Location Outlook
Offshore
Onshore
Sector Outlook
Upstream
Midstream
Downstream
Regional analysis covers:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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