Surface Preparation Abrasives Market to See Incredible Growth During 2020
A distortion-free operation of the offshore equipment is crucial for the efficiency of the whole plant. Large portion of investments are being allocated towards the maintenance of offshore oil and gas platforms with the purpose of maximizing oil production operations. The requirements for maintenance of offshore oil and gas platforms are significantly higher than those of onshore oil and gas platforms owing to the restricted reach ability of plants along with a continual exposure to the bad weather conditions. The failure of offshore equipments is not necessarily only associated with the cost of repairing the equipments and components, but also the loss of operating time.
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For instance, an offshore structure extracting 45,000 barrels of crude oil per day at USD 25 per barrel could return nearly USD 1.13 million a day. Thus, the opportunity costs during production shutdowns or equipment failure are very huge. Henceforth, the plant owners are laying an emphasis on utilizing maintenance solutions that minimizes the adverse effect on offshore production operations. In addition to the effective utilization of maintenance solutions, market players also require the performance within time, space, and budget constraints for the offshore structure environments.
Surface preparation is one of the key techniques applied to protect offshore equipments by applying a film-forming material. Coating maintenance when 2% to 8% of the coating is failing is one of the general trends observed in the industry. This reduces the scale of operations required to restore the coating’s effectiveness and reduce corrosion. The above operation ultimately lowers the potential for future interruption of the offshore operations and total life-cycle cost. The basic purpose of surface preparation is to improve the service lives/performance of the offshore equipments.
The overall market for surface preparation abrasives can be broadly classified into three categories: product types, technology, and geography. On the basis of product types, the global surface preparation abrasives market can be segmented as expendable blast cleaning abrasives and recyclable abrasives. The proper choice of right abrasives can provide any surface profile (roughness) and surface cleanliness. On the basis of technology, the global surface preparation abrasives market can be segmented as plaint media blasting, abrasive air blasting, vibratory and mass finishing, wheel blasting, shot peening, wet blasting, micro blasting, and painting/coatings among others. Plaint media blasting, abrasive air blasting, vibratory and mass finishing, and painting/coatings are some of the widely used surface preparation techniques. With the technological advancements in the surface preparation techniques, a variety of new, meaningful, value-oriented choices are gaining popularity in the market. Considerations like disposal costs, consumption rates, containment costs, personnel safety, process cleanliness, freight costs, and media handling are the parameters increasingly driving decision to the use of one technology over another.
The global surface preparation abrasives market for the oil and gas industry is expected to register moderate to high growth in the future. Gradually rising need for effective and continual operation of the offshore operations and productions is anticipated to drive growth in the market. The huge opportunity cost associated with the failure of offshore equipments and platforms augments growth in the global surface preparation abrasives market for the oil and gas industry. Ample of growth opportunity exists due to the surge in the offshore deepwater and ultra-deepwater activities. Regionally, the market segmentation may be done by identifying high growth areas in the offshore oil and gas industry.
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Some of the key players in the global surface preparation abrasives market for the oil and gas sector includes Blastmaster Pty Ltd.; Dynamic Co.; Polyseal Coating Solutions; Sibelco Europe; Surface Preparation; and Sponge-Jet, Inc.