New York, NY -- (SBWIRE) -- 09/30/2020 -- The global Oil & Gas Corrosion Protection market is forecast to reach USD 12.50 Billion by 2027, according to a new report by Reports and Data. Over the projected period, the market is expected to experience substantial growth, mainly due to the growing need for transportation and supply infrastructure in the O&G sector. This growth may be attributed to the extra advantages that epoxy-based coatings provides like reliability and strength. North America and MEA together acquired more than half of the total global market share. Rapid expansion of the infrastructure and technical developments in the O&G sector are anticipated to augment demand further over the coming years.

A growing need for transportation or distribution facilities combined with rising global demand for electricity is growing demand for advanced materials, which would deter degradation in the atmosphere.For the export or procurement of crude oil, natural gas, and intermediate materials,in recent years, cheaper modes of transportation such as pipelines are increasing, is expected to boost market growth over the projected period.

The report is updated with the latest market and economic scenario with regard to the COVID-19 pandemic. The report is furnished with the current details and changes in the demand and trends relating to the COVID-19 crisis. Impact analysis of the pandemic on the overall growth of the industry and its future impact is covered in the report.

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The report provides a comprehensive overview of the competitive landscape and provides an analysis of the key companies operating in the industry. The top players operating in the industry are 3M Company, AkzoNobel N.V, Jotun A/S, Hempel A/S, Jotun A/S, Axalta Coating System Ltd., The Sherwin-Williams Company, Kansai Paints Co. Ltd., RPM International, Inc., and BASF SE, among others.

For the purpose of this report, Reports and Data have segmented the global inorganic microporous adsorbent Market on the basis of type, application, sales channel, and region:

For the purpose of this report, Reports and Data have segmented into the global Oil & Gas Corrosion Protection market based on the Type, Location, Sector, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

Coatings
Paints
Inhibitors
Others

Location Outlook (Revenue, USD Billion; 2017-2027)

Offshore
Onshore

Sector Outlook (Revenue, USD Billion; 2017-2027)

Upstream
Midstream
Downstream

Regional Outlook of Oil and Gas Corrosion Protection Market:

The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Oil and Gas Corrosion Protection market is analyzed on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

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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 O&G 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 considerations of the Oil and Gas Corrosion Protection Market Report:

Strategic Developments:

The study includes an assessment of key strategic developments of the Oil and Gas Corrosion Protection industry, including R&D advancements, product launches, brand promotions, mergers and acquisitions, joint ventures, collaborations, government deals, agreements, and partnerships. Regional growth of the leading companies is also provided on a global as well as country-wise scale.

Vital Features of the Market:

The report covers the evaluation of the key market features such as revenue, price analysis, capacity, gross margin, production and consumption ratio, import/export, and supply and demand ratio. Along with this, CAGR, gross margins, and estimated revenue generation is also covered by the report. The report further covers the market growth based on each segment and sub-segment of the industry.

Analytical Tools:

The report is furnished with accurate and assessed statistical data of the key industry players and their scope in the market. The analytical tools include SWOT analysis, Porter's Five Forces Analysis, feasibility analysis, and investment return analysis. These tools have been utilized to gain a deeper understanding of the key market players and their operations in the industry.

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