The global Oil Gas Corrosion Protection market is forecasted to grow at a rate of 4.4% from USD 9.06 billion in 2019 to USD 12.50 billion in 2027. Due to their lightweight, relatively cheap, and technical advances to develop their qualities in terms of strength and durability characteristics, the Oil Gas Corrosion Protection industry is anticipated to witness considerable growth The need for such products would be driven by demand from the end-user industry as well as technological advancements.
Some of the leading players in the global Oil and Gas Corrosion Protection market:
AkzoNobel N.V, 3M Company, Jotun A/S, Hempel A/S, Jotun A/S, The Sherwin-Williams Company, Axalta Coating System Ltd., RPM International, Inc., Kansai Paints Co. Ltd., and BASF SE.
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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.
Key questions addressed in the report:
- What is the expected market size of the global Oil and Gas Corrosion Protection market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Oil and Gas Corrosion Protection market?
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Oil and Gas Corrosion Protection Market Segmentation:
Type Outlook (Revenue, USD Billion; 2017-2027)
Location Outlook (Revenue, USD Billion; 2017-2027)
Sector Outlook (Revenue, USD Billion; 2017-2027)
Key Regional Markets Covered in the Report:
- 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 Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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