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. 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.
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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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