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Offshore Oil & Gas Paints and Coatings Market 2020 by Manufacturers, Regions, Type And Application, Forecast To 2023

Sameer Joshi                               

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Offshore oil & gas exploration activities lead to formation of foul and corrosion layers on the vessel equipment, which are further coated system to provide protection. Moreover, continuous contact with rough seawater and prolonged exposure to penetrating UV rays adversely affect the life of coating systems. Therefore, in offshore environments, long resistant coatings are expected to provide a long service life. 

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What is the Dynamics of Offshore Oil & Gas Paints and Coatings Market?

Moreover, continuous contact with rough seawater and prolonged exposure to penetrating UV rays adversely affect the life of coating systems. Therefore, in offshore environments, long resistant coatings are expected to provide a long service life. Moreover, these coatings require advanced personnel safety considerations under the specified working conditions. These may include non-skid coatings on decks, high-visibility colors, and fire- & heat-resistant coating.

What is the SCOPE of Offshore Oil & Gas Paints and Coatings Market?

Offshore vessels paint & coatings comply with stringent regulatory norms and therefore are effective for marine and offshore platform applications. These coatings are effective in minimizing the corrosion and fouling of vessels hull to ensure the control over damage to marine vessels. Moreover, further application of these coatings under the prescribed conditions and after the necessary surface preparation, effectively prevents algae formation on the surface, boost the market growth.

What is the Market Segmentation?

The global offshore oil & gas paint & coatings market is segmented based on resin, installation, and geography. Based on resin, it is classified into epoxy, polyurethane, alkyd, acrylic, inorganic zinc, and others (silicone, vinyl, and others) Based on installation, it is divided into jackups, floaters, drillships, semisubmersibles, and others.

What is the Regional Framework of Offshore Oil & Gas Paints and Coatings Market?

Geographically, it is classified into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for more than one-third of the total share of the revenue in 2016, followed by Europe and North America.

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