Dublin, Nov. 12, 2020 (GLOBE NEWSWIRE) -- The "Offshore Corrosion Protection - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.
Global Offshore Corrosion Protection market accounted for $9.57 billion in 2019 and is expected to reach $14.14 billion by 2027 growing at a CAGR of 5.0% during the forecast period.
Growing investments in the oil & gas industry and advancement in technology for corrosion detection are the major factors propelling the market growth. However, COVID-19 pandemic to impact offshore activities are hampering the market growth.
Offshore corrosion protection technologies have evolved at a rapid pace due to which, the demand continues to grow at a consistent pace. The production of corrosion protection coatings specifically developed to protect metallic substrates, including magnesium, aluminum, iron, and steel has accelerated over the past decade. In addition, as the offshore infrastructure is largely prone to corrosion across different zones, including submerged, mud, and splash, the need for corrosion protection continues to gain considerable momentum.
Based on the technologies, the coatings segment is going to have a lucrative growth during the forecast period. Inert and corrosion resistant coatings extend component life and rust protection in extreme heat and salt environments, greatly improving seawater corrosion resistance. Moreover the coatings have both the inertness and durability to withstand harsh marine environment applications. Also these coatings act as an inert barrier, preventing corrosive attack and extending component life.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the investments in renewable energy, offshore wind power generation, have been increasing in Asia Pacific. Demand for oil and gas has been rising substantially in China, India, and Japan in Asia Pacific.
Some of the key players profiled in the Offshore Corrosion Protection Market include The Sherwin-Williams Company, Southern Cathodic Protection, RPM International Inc, Kansai Paint Co., Ltd, Jotun A/S, Hempel A/S, Chase Corp, BASF SE, Axalta Coating Systems Ltd, Ashland, Akzo Nobel N.V, Aegion Corporation and 3M.
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2018, 2019 2020, 2024, and 2027
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered:
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.5 Research Sources
3 Market Trend Analysis
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Offshore Corrosion Protection Market, By Technology
5.4 Cathodic Protection
5.4.1 Impressed Current Cathodic Protection
5.4.2 Sacrificial Anode Cathodic Protection
5.5 Corrosion Inhibitors
5.5.1 Volatile Corrosion Inhibitors
5.5.2 Liquid Phase Inhibitors
6 Global Offshore Corrosion Protection Market, By Application
6.6 Offshore Wind Turbines
6.7 Other Applications
6.7.2 Storage Tanks
7 Global Offshore Corrosion Protection Market, By Geography
7.2 North America
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.5 Other Key Strategies
9 Company Profiling
9.1 The Sherwin-Williams Company
9.2 Southern Cathodic Protection
9.3 RPM International Inc
9.4 Kansai Paint Co., Ltd.
9.5 Jotun A/S
9.6 Hempel A/S
9.7 Chase Corp
9.8 BASF SE
9.9 Axalta Coating Systems Ltd.
9.11 Akzo Nobel N.V.
9.12 Aegion Corporation
For more information about this report visit https://www.researchandmarkets.com/r/yi12el
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