The vast rise in population and industrial activities in the past few years, especially across developing economies such as India, China, Indonesia, and Brazil, have led to a significant rise in demand for energy. This factor has had a significant positive impact on oil and gas exploration and production activities globally, while also substantially increasing the need for transportation/supply infrastructure. Pipelines being one of the cheapest and most convenient means of supplying oil and gas products such as natural gas, crude oil, and several varieties of refined or intermediate products, their network is expanding at an encouraging pace globally.
This report on the global oil and gas pipeline corrosion market gives an overview of the market that deals with the various products, techniques, and all key aspects concerned with the prevention of corrosion of oil and gas pipelines. The report presents a detailed overview of the present state of the market and includes forecasts about the growth prospects of the market and its key segments over the period between 2016 and 2024.
Vast quantitative and qualitative data about the market and its segment, gathered with the help of detailed primary and secondary research methodologies, provide a solid basis for examining the market’s present state. Analysis of key trends of the past and present years, drivers, restraints, regulatory scenario, and competitive landscape, with the help of industry-standard analytical tools and inputs from industry experts, allow a reliable overview of the market’s future growth prospects.
The concerns regarding costly leakages of oil and gas, impact of interruptions in supply on consumer relations and convenience, and the immense monetary losses that pipeline corrosion can cost by hampering the operations of an oil and gas infrastructure highly dependent on pipelines are the key factors driving the market. The continuously expanding network of oil and gas supply pipelines across developing economies such as countries in Asia Pacific, Latin America, and Africa has also led to significant traction in the field of oil and gas pipeline corrosion prevention services and products.
The offshore oil and gas exploration and production industry could prove to be an area with high return on investment owing to the rising focus on offshore drilling in the face of shrinking reserves across conventional sites. The increased adoption of monitoring and sensing technologies to enable the remote examination of internal corrosion of oil and gas pipelines has also emerged as a key trend in the global market.
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Global Oil and Gas Pipeline Corrosion Prevention Market: Geographical and Competitive Dynamics
On the basis of geography, the global gas pipeline corrosion prevention market can be segmented into North America, Asia Pacific, Europe, and Middle East and Africa. Home to some of the world’s largest oil and gas producing nations, Middle East is one of the key markets for oil and gas pipeline corrosion prevention operations. North America also accounts for a significant share in the overall market and is expected to lead to significant growth opportunities for the market in the next few years.
The recent boost in shale gas production in the U.S. will be key to the North America market’s growth over the report’s forecast period. In Africa, the market for oil and gas pipeline corrosion prevention will be driven by the recent oil and gas discoveries. Rising demand for oil and gas owing to the rapidly expanding population and encouraging pace of industrialization will bolster the market in Asia Pacific.