Global Oil and Gas Corrosion Protection Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global oil and gas corrosion protection market size reached US$ 10.1 Billion in 2022. Looking forward, the market is expected to reach US$ 13.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.08% during 2022-2028.

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

Oil and Gas Corrosion Protection Market Trends

The increasing offshore oil and gas exploration activities, along with the rising demand for effective corrosion protection systems for wells, risers, drilling rigs and pipeline connectors, is one of the key factors driving the growth of the market. Crude oil is highly corrosive in nature and oil and gas corrosion protection solutions aid in prolonging the life of oil and water ballast tanks, hull externals and decks. Moreover, the widespread adoption of corrosion protection solutions in the transportation industry for moving natural gas, oil, intermediate products and fuel is providing a thrust to the market growth. Various product innovations, such as the development of epoxy-based coatings, are acting as other growth-inducing factors. Product manufacturers are also launching advanced coating materials manufactured using alkyd, polyurethanes and acrylic compounds for enhanced substrate protection, water- and heat resistance and improved physical properties. Other factors, including extensive infrastructural development, especially in the developing economies, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global oil and gas corrosion protection market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, location and sector.

Breakup by Type:

• Coatings
• Paints
• Inhibitors

Breakup by Location:

• Offshore
• Onshore

Breakup by Sector:

• Upstream
• Midstream
• Downstream

Breakup by Region:

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

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Aegion Corporation, Akzo Nobel N.V, Ashland Global Specialty Chemicals Inc., Axalta Coating Systems Ltd., BASF SE, Chase Corporation, Hempel A/S, Jotun A/S, Metal Coatings Corp., RPM International Inc. and The Sherwin-Williams Company.

Key Questions Answered in This Report

1. How big is the global oil and gas corrosion protection market?
2. What is the expected growth rate of the global oil and gas corrosion protection market during 2023-2028?
3. What are the key factors driving the global oil and gas corrosion protection market?
4. What has been the impact of COVID-19 on the global oil and gas corrosion protection market?
5. What is the breakup of the global oil and gas corrosion protection market based on the type?
6. What is the breakup of the global oil and gas corrosion protection market based on the location?
7. What is the breakup of the global oil and gas corrosion protection market based on the sector?
8. What are the key regions in the global oil and gas corrosion protection market?
9. Who are the key players/companies in the global oil and gas corrosion protection market?