Global Pipe Coating Market by Surface (Internal Surface, and External Surface), by Form (Powder Coating, and liquid coating), by Type (Thermoplastic Polymer Coatings, Fusion Bonded Epoxy (FBE) Coatings, Concrete Coatings, and Others), by End-use (Oil & Gas industry, Water & Wastewater treatment, Chemical processing, Mining, Agriculture, Infrastructure and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
The Global Pipe Coating Market is estimated to grow at a CAGR of 4.52% during the forecast period 2019-2026. As per the analysis, the Global Pipe Coating Market was valued $6.42 billion in the year 2019 and estimated to reach $8.72 billion by the end of the year 2026.
Pipe coating is one of the most secure corrosion prevention methods used by numerous industries. Pipe coatings have appeared as a cost-effective solution for maintaining pipeline integrity.
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The oil & gas industry continues to be the prime consumer of pipe coatings and is expected to present significant demand for such coatings over the years to come. The global consumption of oil and gas continues to rise due to various macro-economic factors. The development of pipelines for oil and gas transportation has increased due to the continuous demand for energy in countries like China, India, the U.S., and others, which is opening new growth windows for the oil & gas industry. Pipe coatings come with several advantages such as improved flow assurance, reduced cost of energy, and corrosion inhibition, which makes it an appropriate product for the pipeline integration solution. Increasing construction spending, along with rising demand for natural gas, mainly in China and India, should drive regional growth. Growing agricultural activities and issues related to water crisis may elevate the need for water transport and thereby enhance industry growth. The positive trend in agricultural, residential, and industrial applications will fuel pipe coating market size.
Pipelines have wide usage in transporting water, chemicals, and various industrial processes. It protects from abrasion, corrosion, and other reactions from CO2, H2S, water, acid, sunshine, which thereby affect product execution and longevity. Selecting a appropriate pipe coating depends on performance level, regulatory concerns, economics consideration, and industrial properties requirement.
Growth in the Oil & Gas and Infrastructure Industries Drive the Growth of the Global Market
Oil & gas comprises solid particulates, including potassium chloride, carbonates, sodium chlorides, salts, greases, waxes, paraffin, and dirt. These particulates mix in liquid, and some remain in the suspension. Coatings are designed for internal pipeline utilization, which may withstand high impact by the particulates to prevent corrosion and leakages. As oil and gas pipeline leakage may cause huge economic and environmental damage, it is very necessary to use pipe coatings, these factors will further improve the demand for the pipe coatings market during the forecast period.
Growing Technological Advancements
Pipe coating are used in chemical industry to prevent pipe as chemical processes may lead to its degradation. Pipe coatings are used to add specific surface properties, including color, wear resistance, electrical resistance, used to add specific surface properties, including color, wear resistance, electrical resistance, thermal protection, advancements are common so that pipe coatings can be used in various industries. Most of the chemical processing companies are developing technologically advanced polymers followed by strict government regulations will drive industry growth. Expanding chemical processing and industrial need, mainly in the Asia Pacific region will favor pipe coatings product demand.
High Cost of Pipe Coatings Restraint the Market Growth
Pipe Coatings are high in cost and is designed to provide superior results for the pipelines. Pipe Coatings comes it with advanced features to protect the pipes from corrosion and to make sure that the pipes remain unaffected by changing climatic conditions. High cost of the pipe coating is the major restraint in the market.
Segmentation Overview of the Global Pipe Coatings Market
The Surface Segment of the Global Pipe Coatings Market is Sub-Segmented into:
The Form Segment of the Global Pipe Coatings Market is Sub-Segmented into:
The Type Segment of the Global Pipe Coatings Market is Sub-Segmented into:
The End-Use Segment of the Global Pipe Coatings Market is Sub-Segmented into:
Regional Overview of the Global Pipe Coating Market
On the basis of regional analysis, the global pipe coating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The North America region is estimated to occupy the highest market share, Countries in this region, such as the U.S., Canada, and Mexico, are observing growth in the oil & gas industry due to the easy availability of shale gas and new discoveries of oil reserves. Also, the chemical processing industry is expected to grow due to the availability of raw materials in this region.
The companies that hold the majority share of Pipe Coating Market are PPG Industries, Inc., Akzo Nobel N.V., Shawcor Ltd., The Sherwin-Williams Company, Axalta Coating Systems Ltd., Arkema S.A., Wasco Energy Group of Companies, The 3M Company, Specialty Polymer Coatings Inc., Seal for Life, Tenari, Winn & Coales (Denso) Ltd., Aegion Corporation, Eupec Pipecoatings France SA, L.B. Foster Company, Arabian Pipecoating Company Ltd and Other Prominent Players.
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