Oil and Gas Corrosion Protection Market 2021-26: Outlook, Trends, Demand, Share, Size, Growth

According to the latest report by IMARC Group “Oil and Gas Corrosion Protection Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global oil and gas corrosion protection market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.

Oil and gas corrosion protection represents the utilization of anti-corrosive systems and technologies to prevent the degradation of various metals, such as steel, nickel, titanium, copper chromium, etc., in aqueous environments. It involves the mitigation, monitoring, inspection, cleaning, etc., of crude oil and natural gas wells and pipelines. Oil and gas corrosion protection solutions utilize cathodic and anodic protection, chemical dosing, material selection, the application of inhibitors and protective internal and external coatings, etc. They are used against numerous kinds of corrosion in upstream, midstream, and downstream pipeline systems. These include oxygen, crevice, galvanic, erosion, sweet, sour, stress, and microbiologically induced corrosions. Oil and gas corrosion protection solutions also aid in increasing plant availability, preventing pipe rust or leaks, minimizing environmental damage, etc.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The rising number of offshore oil and gas exploration activities, coupled with the escalating demand for effective corrosion protection systems for wells, drilling rigs, pipeline connectors, etc., is primarily driving the oil and gas corrosion protection market. Moreover, the elevating adoption of these solutions in the transportation industry for moving natural gas, oil, intermediate products, etc., is further bolstering the market growth. Besides this, the launch of advanced coating materials made with alkyd, polyurethanes, and acrylic compounds for improved substrate protection, water and heat resistance, enhanced physical properties, etc., is augmenting the global market. Furthermore, several product innovations and technological advancements, including the development of epoxy-based coatings, are anticipated to catalyze the oil and gas corrosion protection market over the forecasted period.

Breakup by Type:

  • Coatings
  • Paints
  • Inhibitors
  • Others

Breakup by Location:

  • Offshore
  • Onshore

Breakup by Sector:

  • Upstream
  • Midstream
  • Downstream

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • 3M Company
  • Aegion Corporation
  • Akzo Nobel N.V
  • Ashland Global Specialty Chemicals Inc.
  • Axalta Coating Systems Ltd.
  • Chase Corporation
  • Hempel A/S
  • Jotun A/S
  • Metal Coatings Corp.
  • RPM International Inc.
  • The Sherwin-Williams Company.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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