Integrity of Pipelines to Drive Global Pipe Coatings Market
Description :
Pipe Coating Market By Product (Fusion Bonded
Epoxy, Metallic Coatings, Concrete Coatings and Thermoplastic Polymer
Coatings), By Form (Liquid and Powder), By Surface Type (External and
Internal) and By End-Use (Chemical Processing Marine, Water & Water
Treatment, Oil & Gas Industry and Others) - Forecast to 2027
Keywords:
Pipe Coatings Industry, Global Pipe Coatings Market Industry, Pipe Coatings Industry value, Pipe
Coatings Industry segment
Pipe Coatings Market Analysis:
Pipe coatings are effective in maintaining pipelines in the oil
& gas industry. Consumption of oil & gas for production of chemicals,
polymers, and other fuel needs can drive up the demand for coatings. The global
pipe coatings market report by Market Research Future (MRFR) has been compiled
highlighting trends, drivers, challenges, and opportunities with emphasis on
value and volume sizing. It contains accurate predictions for the period of 2018
to 2030(forecast period) attained from interviews of experts and industry
leaders.
Market Scope
The
global pipe coatings market is projected to touch a value of USD 15,968.4
million by 2023. It stood at USD 11,800 million in 2017. It is predicted to
showcase 5.18% CAGR over the forecast period. Installation of pipelines in the
oil & gas sector for easy transport can drive the market demand. New oil
fields in Qatar, UAE, China, Brazil, and India can culminate in opportunities
for coating manufacturers. The surge in energy demand as well as demand for
coatings which can impart corrosion resistance are vital to the market’s growth
prospects.
Rapid urbanization and separation of hazardous waste from waterlines
can induce the demand for pipe coatings. For instance, coal tar, cement mortar,
and applied epoxy are used to prevent corrosion in pipes connected to sewage
facilities and water treatment centers. Investments in research and development
for mobile coatings causing a drastic drop in prices of logistics &
transportation can be source of revenue to the market. Innovations in novel
formulations of coatings can provide new opportunities to the market.
However, fluctuating prices of raw materials can hamper market
growth.
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Segmentation :
The global pipe coatings market is segmented by product type,
surface type, form, and end use.
By product type, it is segmented into fusion bonded epoxy,
thermoplastic polymer coatings, concrete coatings, metallic coatings, and
others. Thermoplastic polymer coatings are further expanded to comprise
polytetrafluoroethylene (PTFE), polypropylene (PP), polyurethane (PU),
polyethylene (PE), and others. Thermoplastic polymer coatings accounted for the
largest market share in 2017 and touted to lead the global pipe coatings market
owing to corrosion and abrasion resistance in oil & gas pipelines.
By surface type, it is segmented into external and internal.
By form, it is segmented into liquid and powder. Powder coatings accounted
for the lion’s share in the market owing to restrictions on solvent coatings.
By end use, it is segmented into water and waste water treatment,
chemical processing, oil and gas, marine, and others. The oil & gas
industry can display a CAGR of 5.28% during the forecast period. It can
continue to command a high share in the market due to massive energy crunch
globally.
Regional Analysis
North America, Latin America, the Middle East & Africa (MEA),
Asia Pacific (APAC), and Europe are regions explored in the global pipe
coatings market report.
APAC is projected to dominate the global market and grow the fastest
during the forecast period. The growth of oil & gas and chemical processing
industries can be prime contributors of the regional market. Investments in
construction of new pipelines and rapid industrialization are its prime growth
drivers.
Europe was the second-largest region followed by North America. Both
regions have reached maturity and market players have set their sights on
developed economies and other unexplored territories for expanding their
marketshare. Renovations of current infrastructure can provide plethora of
opportunities to the market.
Competition Outlook
The Bayou Companies, LLC, Specialty Polymer Coating Inc, Arkema SA,
PPG Industries, Inc, Shawcor, Tenaris, AkzoNobel N.V, Wasco Energy, DowDupont
Inc, 3M, Axalta Coating Systems Ltd, The Sherwin-Williams Company,
LyondellBasell Industries Holdings B.V, and BASF SE are major players in the
global pipe coatings market.
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NOTE: Our Team of Researchers is Studying
Covid19 and its Impact on Various Industry Verticals and wherever required we
will be considering Covid19 Footprints for Better Analysis of Market and
Industries. Cordially get in Touch for More Details.
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