Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Oil and Gas Corrosion Protection Market is Expected to Grow from USD 9.78 Billion in 2023 to USD 11.98 Billion by 2033, at a CAGR of 2.05% during the forecast period 2023-2033.
Browse 210 Market Data Tables and 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Oil and Gas Corrosion Protection Market Size, Share, and COVID-19 Impact Analysis, By Type (Coatings, Paints, Corrosion Inhibitors, and Others), By Sector (Upstream and Midstream) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.
The oil and gas corrosion protection market includes systems, technologies, and materials utilized for preventing or alleviating corrosion on oil and gas infrastructure such as pipelines, storage tanks, and offshore platforms, maintaining operational efficiency, safety, and environmental compliance. Growing oil & gas exploration and production, growing demand for corrosion protection products, and environmental issues fuel market growth. Growing world oil, gas & energy projects are a key factor in fueling market growth. Growing stringent government standards and regulations for safety are fueling the implementation of corrosion protection technologies. Growing technological advancements in manufacturing processes, and adopting digital processes and monitoring processes are expected to drive the market growth. Furthermore, economies like China, Argentina, Mexico, and others with the biggest shale gas reserves, because shale gas tends to be highly acidic and corrosive, so the demand for corrosion protection solutions to avoid these kinds of failures is increasing. Further, growing regulatory norms and industry requirements for safety and environmental protection are promoting the use of corrosion protection solutions. However, the market for oil and gas corrosion protection is confronted with obstacles such as the need for more effective and sustainable solutions, harsh operating environments, and growing demand for asset integrity management.
The coatings segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the type, the global oil and gas corrosion protection market is divided into coatings, paints, corrosion inhibitors, and others. Among these, the coatings segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growing demand for offshore shipping necessitated by several industries and an upsurge in oil & gas exploration activities globally have played a key role in the growth of this segment. Coatings protect against corrosive materials, avoiding damage to infrastructure and increasing asset lifespan.
The upstream segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the sector, the global oil and gas corrosion protection market is divided into upstream, and midstream. Among these, the upstream segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The nature of operating conditions, high-performance needs, and increasingly stringent regulations predominantly propel the segment. The upstream segment of the oil and gas sector entails procedures for the discovery and extraction of crude oil and natural gas from the earth.
North America is anticipated to hold the largest share of the global oil and gas corrosion protection market over the forecast period.
North America is anticipated to hold the largest share of the global oil and gas corrosion protection market over the forecast period. The development of this sector is influenced by various factors like relentless expansions in exploration and production activities, escalation of energy needs, heightened investment in exploration activities, better R&D resulting in innovation in the corrosion protection industry, and so on. In addition to this, a preventive and proactive strategy of companies has resulted in rising demand for the corrosion protection products.
Europe is estimated to grow at the fastest CAGR of the global oil and gas corrosion protection market during the forecast period. This local market is mostly powered by the several driving factors such as growing need for energy, consequently fueling exploration as well as production activity, innovation connected to the material manufacturing technologies and also coating industries, and increasing the adoption of strategy like asset integrity management in terms of more preference to regular inspections and proactive mode in operating assets.
Company Profiling
Major vendors in the global oil and gas corrosion protection market are SLB (Schlumberger Limited), Northern Technologies International Corporation, Cortec Corporation, Maxwell Additives Pvt. Ltd., Imperial Oilfield Chemicals Pvt. Ltd., Hexigone Inhibitors Ltd., Axalta Coating Systems, Teknos (Teknos Group), and 3M, and others.
Key Target Audience
Recent Development
In July 2024, TotalEnergies, one of the leading energy companies, and Schlumberger NV (SLB), one of the major market players in the energy technology space, announced that the two had signed a 10-year collaborative partnership agreement to make a joint effort to develop and provide digital technology solutions for the next generation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global oil and gas corrosion protection market based on the below-mentioned segments:
Global Oil and Gas Corrosion Protection Market, By Type
Global Oil and Gas Corrosion Protection Market, By Sector
Global Oil and Gas Corrosion Protection Market, By Regional
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