Global Oil & Gas Corrosion Protection Market accounted for $8.54 billion in 2016 and is expected to reach $11.61 billion by 2022 growing at a CAGR of 5.2% from 2016 to 2022. Increasing demand for energy, concerns regarding high cost burden of oil and gas leakages, massive monetary losses of pipeline corrosion, are the key factors driving the market. Growing adoption of advanced technologies to enable the remote inspection of interior corrosion of oil and gas pipelines has emerged as a key trend in the global market. —
Middle East is one of the key markets for oil and gas pipeline corrosion prevention activities. North America also had a significant share in the overall global market and is anticipated to provide significant growth opportunities for the market in the next few years. Asia Pacific market is fueled by increasing demand for oil and gas due to the rapidly escalating population and positive rate of industrialization in the region.
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Some of the key players in the market include The Sherwin-Williams Company, RPM International, Inc., Kansai Paints Co. Ltd., Jotun A/S, Hempel A/S, BASF SE, Axalta Coating System Ltd., Ashland Inc., AkzoNobel N.V, Aegion Corporation and 3M Company.
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