Growing Overseas Power Generation Activities to Provide Impetus to Development of Global Offshore Corrosion Protection Market; Valuation to Rise up to US$13 Bn by 2030, Find TMR - Seite 2

Global Offshore Corrosion Protection Market – Prominent Growth Drivers

• One of the biggest driving factors for the overall development of the global offshore corrosion protection market is the rise in investments for the overseas wind power generation projects. In recent years, the demand for power supply has grown massively across the globe, leading to sanctioning of multiple offshore power generation projects. The market is thus benefiting from this development as corrosion protection becomes an integral component of maintaining these sites.
• Europe in particular has been investing heavily in these offshore power generation plants and thus is helping to create growth opportunities for the global market.
• In addition to this, the companies operating in the global offshore corrosion protection market have been concentrating on developing new and innovative products that are capable of catering to the growing demand across the globe.

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Global Offshore Corrosion Protection Market – Key Market Growth Inhibitors

• The outbreak of COVID-19 pandemic has had a massive impact on the recent growth of the global offshore corrosion protection market.
• With multiple industrial sectors on standstill due to lockdowns and other precautionary measures, the demand for the market has been going down. This is particularly evident for the oil and gas sector.

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Global Offshore Corrosion Protection Market – Geographical Outlook

• There are five key segments of the global offshore corrosion protection market namely, Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. Of these, the market has been led by the regional segment of Asia Pacific.
• It is projected that the segment will continue to grow at a considerable pace over the course of the given forecast period due to the increasing activities of oil & gas plants in the region. Moreover, the demand for the market has been growing from emerging economies such as India and China, which also will help in driving the growth further.

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