Market Overview:
The global offshore corrosion protection market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas, rising investment in offshore wind turbines, and growing awareness about the benefits of corrosion protection coatings. The coatings segment is expected to dominate the global offshore corrosion protection market during the forecast period. This can be attributed to their ability to protect against various types of corrosive environments, such as salt water and acidic environments. The cathodic protection segment is projected to grow at a high CAGR during the forecast period owing to its ability prevent galvanic corrosion and extend equipment life cycle.
Product Definition:
Offshore corrosion protection is the use of coatings, linings and other methods to protect offshore infrastructure from corrosion. The importance of offshore corrosion protection is that it helps maintain the structural integrity of offshore infrastructure and prevents leaks that could contaminate the environment.
Coatings:
Coatings are additives that are applied to the surface of a material in order to protect it from corrosion. The most commonly used type of coating is epoxy, which has high thermal stability and can be applied underwater as well as on surfaces that are not suitable for application of paints or coatings. Epoxy-based coatings have been widely used in offshore applications owing to their excellent adhesion properties under water and they also provide good abrasion resistance.
Corrosion Inhibitors:
Inhibitors are chemicals that inhibit the chemical reaction caused by moisture or other factors. The corrosion inhibitors work by reducing the rate of oxidation in metal to protect it from corrosive environment. Corrosion inhibitors can be natural or artificial and are applied in various forms such as coatings, solutions, dispersions, and emulsions. Some of the common corrosion inhibitors include phosphonates (e.g., phosphonate-based zinc chloride), polyphosphates (e.
Application Insights:
The pipelines application segment led the market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for crude oil & petroleum products from onshore and offshore fields across the globe. Furthermore, growing investments by companies such as StatoilHydro, Repsol YPF, and others are expected to augment industry growth over the coming years.
Offshore platforms are constructed using steel with an average yield strength of around 40 Mpa which makes them susceptible to corrosion caused by hydrogen-based species in seawater that have a tendency of eating away at unprotected steel surfaces resulting in structural failure or cracks on beams/members near joints resulting into loss of stability due to free movement along member interfaces leading ultimately into capsize or even sinking depending upon size and location of platform.
Regional Analysis:
Asia Pacific offshore corrosion protection market is expected to witness significant growth over the forecast period owing to increasing offshore projects in countries such as China, India, and Australia. For instance, according to IEA, in 2016 Asia Pacific accounted for 60% of global rig count with a total number of rigs operating in the region exceeding 300 units. Moreover, rising demand for oil & gas from emerging economies such as China and India is anticipated to drive the regional market over the forecast period.
The North America regional market accounted for a share of more than 20% in 2017 on account of growing offshore E&P activities mainly due to high oil prices coupled with tax incentives offered by various states governments encouraging exploration & production activities related to crude oil especially along coastlines which are likely increase marine transportation costs thus driving OSPM demand across this region. In addition, stringent regulations by U.
Growth Factors:
- Increasing demand for corrosion protection in the offshore oil and gas industry due to the increasing production of oil and gas from offshore fields.
- Rising investment in the oil and gas sector, which is expected to drive the demand for corrosion protection services and products over the forecast period.
- Growing awareness about the benefits of using corrosion protection services and products, which is expected to boost market growth over the next few years.
- Proliferation of new technologies that offer better corrosion protection solutions is likely to propel market growth during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Corrosion Protection Market Research Report
By Type
Coatings, Corrosion Inhibitors, Cathodic Protection, Others
By Application
Pipelines, Rigs, Platforms, Ships/Vessels, Offshore Wind Turbines, Others
By Companies
BASF, 3M, Southern Cathodic Protection, RPM International, Ashland, Akzo Nobel, Jotun A/S, Hempel A/S, Axalta Coating Systems, Kansai Paint, The Sherwin-Williams Company, Aegion Corporation, Chase
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
222
Number of Tables & Figures
156
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Corrosion Protection Market Report Segments:
The global Offshore Corrosion Protection market is segmented on the basis of:
Types
Coatings, Corrosion Inhibitors, Cathodic Protection, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pipelines, Rigs, Platforms, Ships/Vessels, Offshore Wind Turbines, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BASF
- 3M
- Southern Cathodic Protection
- RPM International
- Ashland
- Akzo Nobel
- Jotun A/S
- Hempel A/S
- Axalta Coating Systems
- Kansai Paint
- The Sherwin-Williams Company
- Aegion Corporation
- Chase
Highlights of The Offshore Corrosion Protection Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Coatings
- Corrosion Inhibitors
- Cathodic Protection
- Others
- By Application:
- Pipelines
- Rigs
- Platforms
- Ships/Vessels
- Offshore Wind Turbines
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Offshore Corrosion Protection Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Offshore corrosion protection is a specialized form of corrosion protection that is used in offshore environments. Offshore corrosion protection systems are designed to prevent the formation of rust and other metal oxide deposits on steel structures, pipelines, and other equipment located in offshore environments.
Some of the major players in the offshore corrosion protection market are BASF, 3M, Southern Cathodic Protection, RPM International, Ashland, Akzo Nobel, Jotun A/S, Hempel A/S, Axalta Coating Systems, Kansai Paint, The Sherwin-Williams Company, Aegion Corporation, Chase.
The offshore corrosion protection market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Offshore Corrosion Protection Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Offshore Corrosion Protection Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Offshore Corrosion Protection Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Offshore Corrosion Protection Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Offshore Corrosion Protection Market Size & Forecast, 2018-2028
4.5.1 Offshore Corrosion Protection Market Size and Y-o-Y Growth
4.5.2 Offshore Corrosion Protection Market Absolute $ Opportunity
Chapter 5 Global Offshore Corrosion Protection Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Offshore Corrosion Protection Market Size Forecast by Type
5.2.1 Coatings
5.2.2 Corrosion Inhibitors
5.2.3 Cathodic Protection
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Offshore Corrosion Protection Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Offshore Corrosion Protection Market Size Forecast by Applications
6.2.1 Pipelines
6.2.2 Rigs
6.2.3 Platforms
6.2.4 Ships/Vessels
6.2.5 Offshore Wind Turbines
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Offshore Corrosion Protection Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Offshore Corrosion Protection Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Offshore Corrosion Protection Analysis and Forecast
9.1 Introduction
9.2 North America Offshore Corrosion Protection Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Offshore Corrosion Protection Market Size Forecast by Type
9.6.1 Coatings
9.6.2 Corrosion Inhibitors
9.6.3 Cathodic Protection
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Offshore Corrosion Protection Market Size Forecast by Applications
9.10.1 Pipelines
9.10.2 Rigs
9.10.3 Platforms
9.10.4 Ships/Vessels
9.10.5 Offshore Wind Turbines
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Offshore Corrosion Protection Analysis and Forecast
10.1 Introduction
10.2 Europe Offshore Corrosion Protection Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Offshore Corrosion Protection Market Size Forecast by Type
10.6.1 Coatings
10.6.2 Corrosion Inhibitors
10.6.3 Cathodic Protection
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Offshore Corrosion Protection Market Size Forecast by Applications
10.10.1 Pipelines
10.10.2 Rigs
10.10.3 Platforms
10.10.4 Ships/Vessels
10.10.5 Offshore Wind Turbines
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Offshore Corrosion Protection Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Offshore Corrosion Protection Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Offshore Corrosion Protection Market Size Forecast by Type
11.6.1 Coatings
11.6.2 Corrosion Inhibitors
11.6.3 Cathodic Protection
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Offshore Corrosion Protection Market Size Forecast by Applications
11.10.1 Pipelines
11.10.2 Rigs
11.10.3 Platforms
11.10.4 Ships/Vessels
11.10.5 Offshore Wind Turbines
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Offshore Corrosion Protection Analysis and Forecast
12.1 Introduction
12.2 Latin America Offshore Corrosion Protection Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Offshore Corrosion Protection Market Size Forecast by Type
12.6.1 Coatings
12.6.2 Corrosion Inhibitors
12.6.3 Cathodic Protection
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Offshore Corrosion Protection Market Size Forecast by Applications
12.10.1 Pipelines
12.10.2 Rigs
12.10.3 Platforms
12.10.4 Ships/Vessels
12.10.5 Offshore Wind Turbines
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Offshore Corrosion Protection Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Offshore Corrosion Protection Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Offshore Corrosion Protection Market Size Forecast by Type
13.6.1 Coatings
13.6.2 Corrosion Inhibitors
13.6.3 Cathodic Protection
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Offshore Corrosion Protection Market Size Forecast by Applications
13.10.1 Pipelines
13.10.2 Rigs
13.10.3 Platforms
13.10.4 Ships/Vessels
13.10.5 Offshore Wind Turbines
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Offshore Corrosion Protection Market: Competitive Dashboard
14.2 Global Offshore Corrosion Protection Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BASF
14.3.2 3M
14.3.3 Southern Cathodic Protection
14.3.4 RPM International
14.3.5 Ashland
14.3.6 Akzo Nobel
14.3.7 Jotun A/S
14.3.8 Hempel A/S
14.3.9 Axalta Coating Systems
14.3.10 Kansai Paint
14.3.11 The Sherwin-Williams Company
14.3.12 Aegion Corporation
14.3.13 Chase
