Global Oil and Gas Corrosion Protection Market to Reach $18.4 Billion by 2030
The global market for Oil and Gas Corrosion Protection estimated at US$13 Billion in the year 2023, is expected to reach US$18.4 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Corrosion Protection Coatings, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$7.4 Billion by the end of the analysis period. Growth in the Corrosion Protection Paints segment is estimated at 5.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.9 Billion, While China is Forecast to Grow at 4.8% CAGR
The Oil and Gas Corrosion Protection market in the U.S. is estimated at US$3.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 4.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 4.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.
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