by The oil and gas descaling market comprises descaling chemicals and services used for removing carbonate scale from oil & gas equipment, piping systems, and vessels. Descaling protects equipment integrity, improves performance, and increases uptime by preventing corrosion under insulation.
The global oil and gas descaling market is estimated to be valued at US$ 368.31 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Increased energy demand worldwide has led to greater exploration and production of oil and gas, thereby driving the need for regular descaling and maintenance of associated equipment and infrastructure. The International Energy Agency projects global energy demand to grow by 50% between 2018 and 2040, primarily driven by developing countries in Asia and other regions. This increasing demand for energy is expected to augment the scale of oil and gas operations and infrastructure in the coming years, providing significant opportunities for players in the descaling market.
SWOT Analysis
Strength: The oil and gas descaler market is driven by growing demand for crude oil and associated products. Demand for oil and gas descaler chemicals is expected to rise with increasing oil exploration & production activities.
Weakness: High costs associated with descaling chemicals can hamper market growth. Stringent regulations regarding the usage and disposal of descaling chemicals also pose a challenge.
Opportunity: Growing energy demands and shift towards unconventional oil and gas resources will create new opportunities. Advancements in descaling technologies will further support the market in coming years.
Threats: Volatility in crude oil prices and environmental concerns related to descaling chemicals are major threats. Developments in alternate sources of energy also pose a threat to the long term prospects.
Key Takeaways
Global Oil And Gas Descaler Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global oil and gas descaling market is estimated to be valued at US$ 368.31 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Regional analysis comprises the North America region dominates the global market currently due to large number of exploration & production activities in the US and Canada. The oil and gas descaler market in Asia Pacific is expected to grow at fastest pace due to increasing energy demands and industrialization in major countries like China and India.
Key players operating in the oil and gas descaler market are Audio Network Limited, Envato Elements Pty Ltd., Epidemic Sound, Pond5 Inc., Shutterstock, Inc., SoundCloud Ltd., Inmagine Lab Pte Ltd, The Music Bed LLC, Music Vine Limited, Storyblocks.com, Soundsnap, Soundstripe Inc., Bensound, Jamendo, and ProductionHUB, Inc. These leading players are focusing on product innovation and mergers & acquisitions to strengthen their market position. For instance, in 2022, Audio Network Limited partnered with Leading Music Production & Licensing Company to expand its music content library.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
