Offshore Oil & Gas Paints & Coatings Market (Resin Type: Epoxy, Polyurethane, Alkyd, Acrylic, Inorganic Zinc, Others; Installation Type: Jackups, Floaters, Drillships, Semisubmersibles & Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 - 2023

Introduction

Offshore oil & gas exploration activities exhibit harsh conditions, which are subjected to coatings system. Moreover, continuous and prolonged exposure to rough seawater and penetrating UV rays adversely affects the life of coating systems. Therefore, long resisting coatings must have a long service life in offshore environments. Additionally, such coatings require superior safety considerations based on the conditions they are used in. This may include high-visibility colors, non-skid coatings on decks, and fire & heat resistant coating.

Market Dynamics

Opportunity associated with offshore oil & gas paints & coatings market include production of shale gas in North America. Exhausting onshore oil and gas resources and growing deep water exploration activities are driving the growth of offshore oil & gas paints & coatings market. However, raw material costs and environmental concerns related with the release of volatile organic compounds by chemical organic coatings are limiting the market growth to some extent.

Based on resin type, the offshore oil and gas paints and coatings market is segmented into epoxy resins, polyurethane resins, alkyd resins, acrylic resins, inorganic zinc resins, and others. Epoxy resin segment was the highest contributors in terms of both value and volume, to the global offshore oil & gas paints & coatings market with in 2016. Moreover, in accordance with rules framed by International Maritime Organization (IMO), epoxy resin-based coatings are used for vessel flooring applications, which improves the adhesion properties of marine paints, thus increasing the market demand. Epoxy intermediate coats possess a number of environmental benefits, such as lowering of volatile organic compounds (VOC), and propelling the market growth. In addition, epoxy coats achieve the required thickness and retain film build around sharp edges, which boosts the market growth. Furthermore, deployment of polysiloxane coatings on vessel surface makes the surface durable and resistant to abrasion, wear, and weathering, leading to market growth.

Report coverage

The market research study on “Offshore Oil & Gas Paints & Coatings Market (Resin Type: Epoxy, Polyurethane, Alkyd, Acrylic, Inorganic Zinc, Others; Installation Type: Jackups, Floaters, Drillships, Semisubmersibles & Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 - 2023” offers a detailed study on global offshore oil & gas paints & coatings market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided in the report. Information about Porter's five forces analysis is also mentioned. The report provides insights on global offshore oil & gas paints & coatings market, its resin type, installation type, and major geographic regions. Secondly, the report covers the global offshore oil & gas paints & coatings market size and volume, and the segment markets by resin type, installation type, and geography along with the information on companies operating in the market. The offshore oil & gas paints & coatings market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, and LAMEA. For each region, the market sizes for different segments have been covered under the scope of report. The players profiled in the report include The Sherwin-Williams Company, Kansai Paints Co., Ltd, AkzoNobel N.V., Nippon Paints Co. Ltd., 3M Co., Hempel A/S, BASF SE, PPG Industries, Inc., The Dow Chemical Company, and Wacker Chemie AG.

• Epoxy
• Polyurethane
• Alkyd
• Acrylic
• Inorganic Zinc
• Others (Silicone, Vinyl, etc.) 

• Jackups
• Floaters
• Drillships
• Semisubmersibles & Others

• North America
• Europe
• Asia-Pacific
• LAMEA