Nov 1, 2017   SOURCE: PR NewsWire

Global Oil and Gas Corrosion Protection Market - Forecast to Grow at a CAGR of 4.2% by 2021

DUBLIN, November 1, 2017 /PRNewswire/ --

The "Global Oil and Gas Corrosion Protection Market 2017-2021" report has been added to Research and Markets' offering.

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The analysts forecast the global oil and gas corrosion protection market to grow at a CAGR of 4.24% during the period 2017-2021 .

The report, Global Oil and Gas Corrosion Protection Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is the advancement in technology for corrosion detection. Increase in R&D activities for the detection of corrosion in the onshore and offshore applications is expected to foster the market growth. Corrosion monitoring and inspection with sensors, digital radiography, remote visual inspection flaw detectors and ultrasonic thickness gauges, and eddy current and X-ray technology are expected to augment the market growth.

According to the report, one of the major drivers for this market is the oil and gas exploration and production activities. Development of drilling technologies has revolutionized the oil and gas industry. It has enabled access to remote locations, unconventional formations, and deep-water regions. This plays a key role in driving the consumption of corrosion protection products and services. Technological innovations, such as horizontal drilling and hydraulic fracturing, have unlocked an unconventional potential of several regions in the US, Saudi Arabia, Russia, Mexico, and Canada. As of 2015, there are about 300,000 hydraulically fractured wells in the US, and they contributed to more than 4.3 million barrels per day of oil. Canada had more than 572 trillion cubic feet of technically recoverable wet shale gas, in 2016.

Further, the report states that one of the major factors hindering the growth of this market is the volatility in crude oil prices. The volatility in crude oil prices will directly affect the exploration and production of oil and gas. The low price of crude oil will reduce the demand for new rigs. The reduction in demand for new rigs will hinder onshore and offshore exploration and drilling activities, thereby reducing the demand for corrosion protection.

Key vendors

    --  3M
    --  Akzo Nobel
    --  BASF
    --  Hempel
    --  The Sherwin-Williams Company

Other prominent vendors

    --  Aegion
    --  Ashland
    --  Axalta Coating Systems
    --  Belzona International
    --  Chase
    --  Impreglon
    --  Jotun
    --  KANSAI PAINT
    --  Metal Coatings
    --  RPM

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Location

Part 07: Market Segmentation By Sector

Part 08: Regional Landscape

Part 09: Decision Framework

Part 10: Drivers And Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Key Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/j3dkqk/global_oil_and

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SOURCE Research and Markets