Oil & Gas Corrosion Protection Market Size Worth $12.2 Billion By 2025

The global oil and gas corrosion protection market size is expected to reach USD 12.2 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period owing to rising demand from the North America region. Corrosion protection products are widely consumed in various applications sectors such as upstream, midstream and downstream.

Growing need for transportation or supply infrastructure coupled with increasing energy demand worldwide is propelling the demand for advanced products, which will prevent the atmospheric corrosion. North America is expected to experience higher growth rates primarily owing to the presence of upstream sector and presence of number of rigs, coupled with the availability of shale and other tight resources. Coating type dominated the market globally. The other key protection types include paints, inhibitors, and others.

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http://www.grandviewresearch.com/industry-analysis/oil-gas-corrosion-protection-market

Further key findings from the report suggest:

Globally, the upstream sector is expected to witness moderate revenue growth from 2016-2025, growing at a rate of 4.9% between 2016 and 2025. The demand growth can be credited to increasing need for transportation/supply infrastructure in O&G sector along with rising demand for energy all across the world.
North America dominated the global market in 2015 with an estimated value of USD 2.22 billion and is expected to propel significantly in the upcoming years in light of inlined infrastructural projects in oil & gas industry, such as the installation of refinery projects, rig installation, and others. The U.S. is projected to experience high growth for corrosion protection products and is projected to continue its market domination in light of continuous need for maintenance of oil & gas components and new infrastructure development.
Key participants in the market include 3M Company, AkzoNobel N.V, Jotun A/S, Hempel A/S, Jotun A/S, Axalta Coating System Ltd., The Sherwin-Williams Company, Kansai Paints Co. Ltd., RPM International, Inc., Aegion Corporation, Ashland Inc., BASF SE and among others. In the past few years, partnerships and acquisitions have been the major strategy acquired by key industry players for the market growth which will strengthen their market positions.

MPD Services Market Size To Reach USD 5.06 Billion By 2024

The global managed pressure drilling (MPD) services market is expected to reach USD 5.06 billion by 2024, according to a new report by Grand View Research, Inc. Factors such as rising hydrocarbon production cost coupled with depleting extraction rates in conventional onshore wells have led to increasing offshore exploration activities. This is likely to have a significant impact on the managed pressure drilling market. The success of these extraction techniques in areas which were previously considered to be uneconomical has stimulated the market growth.

MPD techniques do not provide any surface return; this restricts the sampling sources for geologists. A significant amount of drill fluids required and variation in MPD techniques is likely to limit the market growth during the forecast period. Technological advancements along with coupling MPD techniques with horizontal drilling in tight formations is anticipated to create new avenues for industry participants in the near future.

Constant bottom hole pressure (CBHP) emerged as the leading technology segment and accounted for 43.3% of the global revenue in 2015. This technique facilitates better safety of the sites by controlling the pressure and detecting early fluid losses. Mud cap drilling (MCD) technique is likely to lose share to CBHP and dual gradient drilling (DGD) technologies owing to the high cost associated with this technology.

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http://www.grandviewresearch.com/industry-analysis/managed-pressure-drilling-mpd-services-market

Further key findings from the report suggest:

Onshore oilfields were the leading application segment and accounted for over 58% of the total industry revenue in 2015. Offshore operations are expected to witness the highest growth of 4.0% over the forecast period.
The U.S. offshore MPD services industry is estimated to witness the fastest growth over the next eight years to reach a net worth of USD 585 million by 2024. Significant development of offshore oil & gas wells in the Gulf of Mexico along with extremely complicated formations in the region is anticipated to drive managed pressure drilling services demand.
North America dominated the global demand accounting for 37.3% of total market revenue in 2015. Technological advancements along with deployment of advanced drilling techniques in complex formations such as tar sands, tight oil, etc. in the U.S. and Canada are key factors for high industry penetration in the region.
Africa is estimated to grow at a CAGR of 4.9% from 2016 to 2024 on account of increasing offshore activities in regions of Angola, and Mozambique. Algeria MDP services industry is estimated to reach a net worth of USD 110 million by 2024, at a CAGR of 5.4%.
Key market players include operating in the global managed pressure drilling services market include Archer Well services, Baker Hughes, Halliburton, Weatherford International, Schlumberger Limited.

Drilling Waste Management Market Size To Reach $7.13 Billion By 2025

The global drilling waste management market is expected to reach USD 7.13 billion by 2025, according to a new report by Grand View Research, Inc. Growing ecological awareness towards effective treatment and disposal of drilling wastes coupled with strict regulations to enforce the laws will boost the market growth.

Increasing drilling activity for natural gas exploration along with growing construction sites for residential and commercial spaces is predicted to drive the global drilling waste management market over the forecast timeframe. Applications of the market include onshore and offshore drilling wastes. Onshore application segment is the dominant sub-segment of the market, while the offshore application is predicted to witness significant growth by 2025. North America leads the onshore application segment owing to the unprecedented domestic production levels crude oil, largely due to the wide adoption of innovative technologies including hydraulic fracturing and horizontal drilling, signalling the onset of a shale revolution.

The drilling waste management market is also segmented based on services, including treatment & disposal, containment & handling, and solids control. In 2016, Treatment & disposal accounted for 39.2% of the market share, largely owing to onsite burial sites including landfills and pits, land-spreading, land-farming, incineration & thermal treatment, slurry injection and bioremediation. Treatment & disposal services are chiefly dominant in Europe and North America owing to increasingly strict regulations including zero-discharge standards that direct drilling companies to effectively treat and reuse all drilling waste generated, and forbid any dumping, especially in water bodies like rivers or seas.

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http://www.grandviewresearch.com/industry-analysis/drilling-waste-management-market

Further key findings from the report suggest:

The U.S. drilling waste management market will witness growth of 3.79% CAGR over the forecast period. The slowdown in the oil and gas market has deeply impacted the drilling markets in the country, with some estimates suggesting 60% decrease in rig drilling. High break-even costs and longer gestation periods in shale exploration and production have further impacted industry growth.
In 2025, UK drilling waste management market is predicted to be valued at USD 0.39 billion. The country has large scale onshore and offshore drilling activities and is among the first nations in the world to introduce stringent waste management legislation.
China drilling waste management market is expected to grow at 12.09% CAGR. The country is expected to undertake large scale offshore exploration projects to discover natural gas reserves.

Systemic Lupus Erythematosus Market Size Worth $3.08 Billion By 2025

The global systemic lupus erythematosus market size is expected to reach USD 3.08 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 7.0% during the forecast period.Introduction of new biological therapies, which will add to treatment alternatives and medication costs, in the development pipeline is estimated to fuel revenue generation of the market. Certain new promising drugs that are currently in Phase III trials are anticipated to augment the market as these drugs may target the lupus nephritis patient subset with few effective alternatives and significant unmet needs to be met. This factor is likely to have a strong impact on the market as nearly 50.0% of SLE patients suffer with lupus nephritis.

Use of approved biologic, Benlysta, through clinical studies, has revealed drastic improvements and substantial decrease in consumption of anti-inflammatory glucocorticoids in moderate SLE cases. GSK’s current initiatives center on further increasing opportunities for Benlysta. The company is conducting indication expansion clinical trials, combination therapy studies with rituximab, and new product development, to widen opportunities for its therapy. In this direction, recent launch of Benlysta’s subcutaneous formulation in several countries is expected to boost the SLE market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/systemic-lupus-erythematosus-sle-market

Further key findings from the study suggest:

North America was the major contributor for the SLE market revenue in 2017 and is anticipated to rise at a CAGR of 8.1% during the forecast period. This is due to availability of reimbursement and better healthcare infrastructure and accessibility to biologics.
Europe was ranked as the second largest regional market in the SLE market in 2017 and is expected to register a CAGR of 5.5% over the forecast period
Immunosuppressants held the largest share in the market in 2017 due to their low cost and high accessibility, whereas the biologics segment is projected to post the highest CAGR during the same period
In 2017, the oral segment held the dominant share of over 54.0% in the market, followed by the intravenous segment that requires trained medical personnel for administration. Over the forecast years, the latter is poised to expand at a CAGR of 10.4%
Key players in this space include GlaxoSmithKline, Roche, Pfizer, Novartis, Bayer, and Sanofi. By 2025, other companies such as ImmuPharma, Aurinia Pharmaceuticals, and Astra Zeneca are anticipated to enter the SLE market.