Distributed Buoyancy Modules Market: Overview
The offshore oil & gas sector is slated to witness a rebound after drastic decline in prices of oil and gas in the last few of years. Increased risks associated with offshore drilling and stricter regulations have propelled the demand for distributed buoyancy modules for use in offshore oil and gas platforms. Buoyancy element is composed of the syntactic foam which is encapsulated in external skin made of polyethylene. Flexible pipes used in offshore oil and gas production require specific geometric configuration to reduce tension loads in offshore platforms.
Distributed buoyancy modules allow achieving and maintaining these particular configurations by being fixed to the outside of the riser. Properties of the syntactic foam are optimized to reach the required buoyancy at the operating water depth for supporting offshore oil and gas platforms.
Distributed Buoyancy Modules Market: Key Segments
In the offshore industry, buoyancy modules are required so as to provide uplift to subsea risers, pipelines, cables, and umbilical and other structures. Discreet buoyancy units called distributed buoyancy modules (DBMs) are attached to floating conduits. The distributed buoyancy modules market has been segmented based on component, application, and region. Based on component, the distributed buoyancy modules market can be classified into clamp and floatation units. A clamp is designed to act as an interface between the conduit and the floatation column in an offshore platform. Based on application, the distributed buoyancy modules market can be divided into deep buoyancy systems, insulated risers, and offshore platforms.
Distributed buoyancy modules offer multiple benefits. It reduces top tension loads. It helps in maintaining project-specific riser configuration. It is fast, efficient, and it has safe offshore installation. It helps reduce the weight of the pipeline during installation. Discrete buoyancy modules can be strapped to the pipeline on board the vessel or in the case of a shore pull installed on land.
Distributed Buoyancy Modules Market: Drivers & Restraints
A key restraint for the distributed buoyancy modules market is that excess usage of these modules can prove to be capital-intensive. Another restraint is high cost of investment and production of distributed buoyancy modules. The subsea ecosystem is hampered, as distributed buoyancy modules are placed on the subsea structure or vessel platform. Repairing the damaged distributed buoyancy modules situated deep in the ocean bed is a tedious task.
Distributed Buoyancy Modules Market: Regional Outlook
The distributed buoyancy modules market in Asia Pacific is expanding due to rising population in the region. This has increased the need for exploration and production of oil from different sources beneath the water and has raised the demand for distributed buoyancy modules. Hotbed areas of subsea oil and gas activities in Asia Pacific are primarily located in countries such as Vietnam, Australia, China, Malaysia, and Indonesia. This, in turn, has led to increase in the demand for distributed buoyancy modules in the region. The market for distributed buoyancy modules in North America is emerging due to increased offshore oil and gas activities in the region. In Europe, countries such as France, Germany, and the U.K. are witnessing increase in the demand for distributed buoyancy modules, due to rapid increase in marine activities. Regions such as Latin America and Africa are expected to witness increase in the demand for distributed buoyancy modules in the near future.
Distributed Buoyancy Modules Market: Key Players
Key players operating in the global distributed buoyancy modules market are Deep Down Inc., Subsea, Fendercare Marine, Trelleborg, and Bardot Group.
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