Surface Protection Services Market Size, Share, Demand & Trends by 2027
The growing supply of oil is also increasing the need for surface protection services including rubber linings, acid proof linings, and corrosion protective coatings for different equipment such as process vessels, pipelines, tanks, and rigs.
Future Market Insights in an upcoming report titled ‘‘Surface
Protection Services Market: Global Industry Analysis (2012 – 2016) and
Opportunity Assessment (2017 – 2027)’ has comprehensively studied the
global surface protection services market. The surface protection services
market is on track to record a modest CAGR of 4.9% from 2017 to 2027.
Product
Type – Corrosion Protective Coating Systems Dominate Other Product Types
The corrosion protective coating systems hold the
lion’s share in the surface protection services market and are expected to gain
30 BPS by the year 2027. Corrosion protective coating systems bond by way of a
chemical reaction with the substrate and minimal surface oxidation is
beneficial. Therefore, corrosion promoters such as humidity and oxygen are able
to get behind the coating in a similar fashion to ordinary paints. Corrosive
protective coating systems have a double layer protection for mild steel and
are widely utilized as compared to other product types in the surface
protection services market. The corrosion protective coating systems market is
predicted to surge past US$ 6 billion by the end of the forecast period.
Get
Your 30% Discount Now! Request for Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5328
Application
– Huge Gains in Process Vessels, Equipment & Rigs Application Segment
The process vessels, equipment & rigs segment has
a market share of approx. 45% of the surface protection services market in
terms of application and is poised to gain significant share going forward.
NACE estimates that the cost of corrosion protection as a result of
constructing new ships is more than US$ 7 billion every year i.e. almost 10% of
the vessel’s total cost. Annual repairs & maintenance cost on account of
corrosion is approx. US$ 5.5 billion with an additional US$ 5 billion in
downtime. For process vessels & equipment built with reduced scantlings, it
is vital that coating systems be property maintained. All of this is likely to
boost the need for surface protection services in process vessels, equipment
& rigs.
Region
– APEJ and MEA Race Ahead in Surface Protection Services Market
The APEJ region is projected to gain a massive 200 BPS
by the end of the decadal study and has gained 90 BPS from 2012 to 2017. Huge
investments in China and India to fuel the demand for petroleum products are
the major factors driving the APEJ surface protection services market. For e.g.
– Indian Oil Corporation plans to double its refining capacity to 150 million
tonnes by 2030 to cater to the explosive energy demand in the second most
populous nation. IOC has also signed an agreement with BPCL and HPCL to build
the world’s largest refinery at Ratnagiri in the state of Maharashtra at a cost
of US$ 40 billion.
Competition
Dashboard in the Global Surface Protection Services Market
Companies profiled in the report are Shawcor,
Corrosion and Abrasion Solutions Ltd., PPG Industries, Dampney Company, Delta T
& Proptective Products, Blair Rubber Co., Integrated Protective Coating,
Abtrex Industries Inc., Applied Rubber Linings Ltd., T.F. Warren Group, Viking
Conveyor, Wasser Corporation, 3M, Moon Fabricating Corporation, Hajjan Trading
& Industrial Services Company Ltd., Spence Corrosion Services Ltd., Hempel
A/S, Aegion Corporation, and Carboline Company.
Key
Takeaways
The surface protection services market is brutally
competitive and small players often struggle to make their mark. Therefore,
innovation is essential to gain a competitive edge and to take advantage of
growth opportunities. Companies can look at coatings that are environmentally
friendly and have low VOC content to thrive in the surface protection services
market.
Surface
Protection Services Market Taxonomy
Product Type
- Corrosion
Protective Rubber Lining
- Corrosion
Protective Coating Systems
- Acid
Proof Lining
- Ceramic
& Brick Lining
- Tile
Lining
- Thermoplastic
Lining
Application
- Process
Vessels, Equipment & Rigs
- Collection
Basins & Tanks
- Pipelines
- Others
(water treatment facilities, incinerators, etc.)
Region
- North
America
- Latin
America
- Western
Europe
- Eastern
Europe
- APEJ
- Japan
- MEA
Browse
Full Report: https://www.futuremarketinsights.com/reports/surface-protection-services-market
Comments
Post a Comment