Market Research Report
U.S. Phosphate Conversion Coatings For Oil & Gas Market Size, Share & Trends Analysis Report By Product (Manganese, Iron, Zinc), By Substrate (Cast Iron, Steel), And Segment Forecasts, 2020 - 2027
|U.S. Phosphate Conversion Coatings For Oil & Gas Market Size, Share & Trends Analysis Report By Product (Manganese, Iron, Zinc), By Substrate (Cast Iron, Steel), And Segment Forecasts, 2020 - 2027|
Published: April 3, 2020
Grand View Research, Inc.
Content info: 46 Pages
Delivery time: 2-10 business days
The U.S. phosphate conversion coatings for oil and gas market size is expected to reach USD 55.3 million by 2027, expanding at a CAGR of 3.9% over the forecast period, according to a new study by Grand View Research, Inc. Rising corrosion challenges in the oil and gas industry are anticipated to drive the market growth.
Phosphate conversion coatings are widely used for treating zinc, aluminum, and steel components. Phosphate is an integral part of various metal finishing operations and serves various functions such as enhancing appearance, promoting adhesion, absorbing lubricants, and increasing corrosion resistance. Some of the common issues caused by environmental adversity in oil rigs include soils with chloride deposits, extremely saline water, high water tables and salt spray near coastal areas, and high humidity. These harsh environmental conditions lead to stagnation, deterioration, and sludge formation in oil storage tanks or equipment during a period of disuse. Hence, the aforementioned factors are expected to positively impact market growth in the country in the coming years.
Based on product segment, manganese is anticipated to expand at a highest CAGR over the forecast period. Manganese Phosphate coatings are very popular in oil and gas industry owing to their outstanding wear resistance and hardness properties. The coatings work splendidly in reducing wear on products such as liners, motor blocks, pistons, pipes, camshafts, rings, tappets, and similar bearing surfaces. These are used as a pre-treatment on metal surfaces prior to painting or coating to increase particular metal properties such as corrosion resistance and lubricity.
Moreover, in comparison to zinc and iron phosphate coatings, manganese phosphate coatings allow rapid break-in of moving parts without welding or scuffing by avoiding metal to metal contact between bearing surfaces, which makes them extremely suitable for the equipment working in extreme condition, specifically in oil and gas industry.
Cast Iron is one of the prominent segments based on substrate. Cast iron substrate consists of 1% to 3% silicon and over 2% carbon, which impart good fluidity, excellent hardness, and durability. It is nonmalleable, brittle, and economical in price owing to which it is widely used in manufacturing various mechanical equipment. It has high compressive strength, superior wear resistance properties, and can be easily cast. Therefore, it is majorly used in manufacturing water conduit pipes, drilling pipes, boilers, packer parts, valve parts, and valve bodies in oil and gas industry.
Zinc is anticipated to dominate the product segment during the forecast period from 2020 to 2027
Manganese is the fastest growing product segment in the country market on account of the growing demand from oil and gas industry
Steel segment is potentially fueling the market growth owing to the surge in product application to promote adhesion of paints and prevent corrosion
Various strategic initiatives were recorded over the past few years in order to boost the growth of the U.S. phosphate conversion coatings for oil and gas market. For instance, in November 2019, Chemetall expanded its complete production unit in Langelsheim, Germany. This expansion is likely to help the company meet the surging demand for aerospace technologies and specific requirements for surface treatment of the aerospace industry