U.S. Thermal Spray Coating For Oil & Gas Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted Business Insights

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the U.S. Thermal Spray Coating For Oil & Gas market.

Trusted Business Insights presents an updated and Latest Study on U.S. Thermal Spray Coating For Oil & Gas Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the U.S. Thermal Spray Coating For Oil & Gas market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Report Overview: U.S. Thermal Spray Coating For Oil & Gas Market

The U.S. thermal spray coating for oil and gas market size was estimated at USD 122.7 million in 2020 and is expected to register a CAGR of 6.7% over the forecast period 2021-2027. The market is primarily driven by ascending demand for thermal spray coating in various applications across the oil and gas industry owing to advantages such as corrosion and wear protection, low toxic gas emissions, thickness, and electrical resistance.

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.

Over the last decade, there has been a sizeable increase in global energy consumption. In order to meet the growing global energy needs, the U.S., which has one of the largest oil reserves, has significantly increased domestic production of crude oil. The growing crude oil production, mainly from the fields in the Permian Basin, Anadarko, Alaska, Bakken, and the Gulf of Mexico, is expected to propel the demand for thermal spray coatings in the oil and gas industry.

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.

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.
Product Insights: U.S. Thermal Spray Coating For Oil & Gas Market

Based on product, the market is segmented into metals, ceramics, intermetallics, polymers, carbides, abradables, and others. The carbides segment generated over 36.0% revenue share in 2019 and is further expected to register a CAGR of 8.1% over the forecast period. Carbide coatings help prevent erosion and abrasion.

Ceramic coatings are used in almost all types of thermal coatings including water plasma spraying, HVOF, gas plasma spraying, arc spraying, flame spraying, and powder flame spraying. These coatings are further used in various applications across the oil and gas industry. Gray alumina, white alumina, alumina-titania, mullite, calcia zirconia, zircon titania (oxidized titanium), chromia (oxidized chrome), and Cr yttria (oxidized yttrium) are some of the most commonly used ceramics in thermal spray coatings for oil and gas industries.

Technology Insights: U.S. Thermal Spray Coating For Oil & Gas Market

HVOF technology segmented lead the market in 2019 and is anticipated to maintain its dominance over the forecast period. HVOF thermal spray coating process is used to restore or improve a components dimension or properties. This process utilizes the combustion of gases such as hydrogen or kerosene.

Oxygen and fuel mix atomize within the combustion area under conditions that monitor the combustion mode and pressure for the process to be effective. The high combustion pressure of the spray is equal to its high particle velocity and gas velocity. The resulting coating is of very high quality, thus, making the method most effective among all others.

HVOF thermal spray coating method offers various benefits compared to its other thermal coating counterparts, which include reduced cost, improved performance, improved electrical properties, enabling components to operate in lower/higher temperature, and ability to operate in harsh chemical environments, improved efficiency, and improved life of mating components.
U.S. Thermal Spray Coating For Oil & Gas Market Share Insights

The market is fragmented in nature with the presence of several key players such as

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.

Companies in the market compete on the basis of quality of products offered and the technology used for thermal spray coatings. Competition among these global and regional players is intense since their product portfolios are similar. End users can choose between any of these companies, as their product offerings vary, majorly, only in terms of the price and quality. However, established players compete on the basis of wider scope of application and new technologies used in product formulations.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the U.S. thermal spray coating for oil and gas market report on the basis of product and technology:

Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Metals
  • Ceramics
  • Intermetallics
  • Polymers
  • Carbides
  • Abradables
  • Others

 

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