Offshore Corrosion Protection Market Challenges, Forecast and Strategies To 2030

𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐂𝐨𝐫𝐫𝐨𝐬𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

The global offshore corrosion protection market was valued at US$ 9.5 Bn in 2019 and is anticipated to expand at a CAGR of ~3% during the forecast period. Based on technology, the cathodic protection segment dominated the global offshore corrosion protection market in 2019. Cathodic protection is a highly effective method to prevent corrosion of metal surfaces. It consists of two sub-types: sacrificial anode cathodic protection and impressed current cathodic protection. Impressed current cathodic protection is a lucrative sub-segment of the global offshore corrosion protection market. In terms of application, the pipelines segment accounted for leading share of the global offshore corrosion protection market in 2019. This can be primarily ascribed to the increase in investments in the global oil & gas sector. Pipelines are laid on the seabed or subsea. Hence, they are susceptible to rapid corrosion due to environmental conditions. Pipelines is also likely to be a highly attractive segment of the global offshore corrosion protection market during the forecast period.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=28352

The offshore corrosion protection market in Asia Pacific is estimated to expand at a substantial pace during the forecast period, owing to high investment in the oil & gas industry and establishment of numerous offshore exploration facilities in the region. China, Japan, South Korea, and India are investing significantly in offshore wind power energy. This is anticipated to boost the demand for offshore corrosion protection in Asia Pacific.

𝐕𝐢𝐞𝐰 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/offshore-corrosion-protection-market.html

𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐂𝐨𝐫𝐫𝐨𝐬𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

Rise in investments in offshore wind power generation is estimated to boost the global offshore corrosion protection market during the forecast period. Global demand for energy has been increasing at a rapid pace, since the last decade. Fossil fuels account for 70% of the global consumption of electricity. Fossil fuel emissions continue to worsen climatic change; hence, carbon-free solutions, such as solar power, nuclear power, and wind power, are gaining importance in terms of energy generation. Power generation from offshore wind energy has emerged as a promising alternative for various countries to expand their renewable energy portfolios and provide a boost to sustainable energy. In offshore wind power, blades corrode rapidly due to harsh weather conditions. Therefore, the demand for offshore corrosion protection coatings has been increasing in offshore wind power generation. Investments in offshore wind power development are expected to rise substantially across the globe in the next few years. Europe leads in terms of investments in the development of wind power. According to Wind Europe, the region invested US$ 8.7 Bn in the development of offshore wind power in 2018. The U.K., Germany, France, and Italy have invested significantly in the development of offshore wind power. Thus, demand for offshore corrosion protection is projected to rise significantly in the offshore wind power industry in the near future. This, in turn, is likely to augment the global offshore corrosion protection market during the forecast period.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=28352

𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐎𝐟𝐟𝐞𝐫𝐬 𝐋𝐮𝐜𝐫𝐚𝐭𝐢𝐯𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐂𝐨𝐫𝐫𝐨𝐬𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

Asia Pacific is anticipated to be a highly attractive region of the global offshore corrosion protection market during the forecast period. The offshore corrosion protection market in Asia Pacific is estimated to expand at a significant pace between 2020 and 2030, due to the growth in the oil & gas industry. Investments in offshore wind power generation are rising in Asia Pacific. This is expected to propel the demand for offshore corrosion protection in the region in the next few years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=28352

𝐌𝐚𝐣𝐨𝐫 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐂𝐨𝐫𝐫𝐨𝐬𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

On February 24, 2020, Axalta Coating Systems Ltd. displayed its waterborne automotive refinishing products - Standoblue and Cromax Pro - at Expo CESVI held in Mexico. These new products provide ease of application and accurate color matching. On June 4, 2019, Hempel A/S launched Globic 7000, a new antifouling coating with enhanced operational flexibility for all types of vessels. The newly developed product leads to significant fuel cost savings and reduction in associated emissions for owners and operators.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐨𝐟 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐂𝐨𝐫𝐫𝐨𝐬𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭

The global offshore corrosion protection market is moderately fragmented. Various international and local players operate in the global offshore corrosion protection market. Prominent players operating in the global offshore corrosion protection market are Southern Cathodic Protection, RPM International Inc., Ashland, 3M, Akzo Nobel N.V., Jotun A/S, Hempel A/S, Axalta Coating Systems Ltd., Kansai Paint Co., Ltd., The Sherwin-Williams Company, BASF SE, Aegion Corporation, and Chase Corp.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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