Demand for U.S. Thermal Spray Coating For Oil & Gas and Impact of COVID-19……..Posted by Mrudula Anil Karmarkar on December 30th, 2020 The U.S. thermal spray coating for oil and gas market size is expected to reach USD 426.3 million by 2027, expanding at a CAGR of 7.8% over the forecast period, according to a new study by Grand View Research, Inc. Increasing demand corrosion inhibitors from oil rigs in U.S. is significantly driving the market growth. The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor. Thermal coatings are used in a variety of applications including oil and gas, aerospace, petrochemical, marine, and automotive. There are a variety of coatings available that can be used depending upon the specific requirements of the industry. For instance, electric arc wire spray is used for industrial gas turbines, whereas oil and gas industry uses High Velocity Oxygen Fuel (HVOF) and atmospheric plasma spray. The product demand from downstream industrial segment is expected to increase steadily on account of their increasing use, primarily in numerous products such as gasoline, diesel, pesticides, pharmaceutical, propane, liquid petroleum gas, plastics, and jet fuel. The expansion of downstream segment, particularly in the industrial cities such as Houston, New York, Chicago, Los Angeles, Dallas, and St. Louis, is expected to have a positive impact on the market over the forecast period. Based on product segment, metal is anticipated to register a significant growth over the forecast period. Metals such as zinc, bronze, aluminum, and copper are used in thermal spraying processes. These methods are utilized in various components across the oil and gas industry, which include pump impellers, casings, pipes, mud pump components, and gate valves. If a material can be heated to its melting point without it boiling away, the materials can be used for spraying. A wide range of steel materials can also be used for corrosion and wear protection in thermal spraying applications. Further key findings from the report suggest:
The flame spray technology segment is anticipated to expand at the fastest growth rate over the forecast period. This process produces surface coatings by using heat from burning oxygen with fuel gas. It is done in order to melt the coating material, which is then propelled onto a substrate. The process is often used as a cost-effective alternative for ceramic and metallic coatings. The process uses a wide variety of ceramic or metallic coatings including molybdenum, stainless steel, low carbon steel, aluminum, zinc, bronze, and nickel-based materials. Aluminum, zinc, polypropylene, and epoxy resins are the key raw materials used in thermal coatings; hence, various manufacturers, such as Praxair Surface Technologies, Inc., and Flame Spray Coating Co., produce their metal and epoxy resin supplies to integrate production vertically. Carbides and metals thermal spray coatings are primarily used in the oil and gas industry for the protection of downhole equipment from high temperatures and oxidation. In addition, these coatings provide high corrosion resistance to various components used in oil rigs. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450218/ibb One of the leading factors contributing to the exponential rise in the export of crude oil in the U.S. was the recent sanctions on the import of crude oil and natural gas from Iran. Iran, one of the major global producers and exporters of crude oil and natural gas, has faced several sanctions imposed by the U.S. and the European Union. This had unforeseen repercussions in the form of a significant surge in crude oil and natural gas prices. The market is fragmented in nature with the presence of several key players such as Praxair Surface Technologies, Inc.; Metallization Ltd.; Flame Spray Coating Co.; Precision Coatings, Inc.; Montreal Carbide Co. Ltd.; Kennametal Inc.; and Oerlikon Metco. These players face intense competition among themselves as well as from other regional players, who have strong distribution networks and good knowledge about suppliers and regulations. However, volatile raw materials price of thermal spray coating is anticipated to hamper the market growth during the forecast period. Key materials used for thermal spray coatings include polymers and epoxy resins. These raw materials have witnessed sharp fluctuations in their prices, which are expected to affect the U.S. thermal spray coating for oil and gas market over the forecast period. Grand View Research has segmented the U.S. thermal spray coating for oil and gas market on the basis of product and technology: U.S. Thermal Spray Coating For Oil & Gas Product Outlook (Revenue, USD Million, 2016 - 2027)
U.S. Thermal Spray Coating For Oil & Gas Technology Outlook (Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |