Pipe coatings are protective coatings on metal pipes that are applied primarily to prevent corrosion and sustain harsh environmental conditions such as UV rays, moisture, solvents and others. The report published by Market Research Future (MRFR) states that the global pipe coatings market is anticipated to expand steadily at a CAGR of 5.18% during the forecast period of 2017-2023 and reach the valuation of USD 15,968.4 Mn by the end of 2023 from USD 11,800 Mn in the year 2017.
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The substantial rise in the demand for energy from conventional sources has led to the increase in exploration and transport activities of oil and natural gas. The extensive application of pipe coatings in oil and natural gas industry in order to protect the pipelines from corrosion and environmental damage and increase the lifespan of the pipes are majorly fueling the growth of the global pipe coatings market.
The metal pipelines used in water and wastewater treatment plants are highly susceptible to corrosion due to constant contact with water and moisture. Increasing demand for high-quality pipe coatings in water and wastewater treatment plants in order to improve the durability of pipelines are propelling the growth of the global pipe coatings market.
Increased research and development activities are aiding in the introduction of high quality and long-lasting pipe coating chemicals. High adoption of chemical resistant, salinity resistant and long-lasting pipe coatings in marine and chemical processing units are aiding in the expansion of the global pipe coatings market.
The global pipe coatings market has been segmented on the basis of product type, surface type, form and end use. Based on product type, the pipe coatings market has been segmented into thermoplastic polymer coatings, fusion bonded epoxy, metallic coatings, concrete coatings and others. The thermoplastic polymer coatings segment has been sub-segmented into polyethylene (PE), polypropylene (PP), polyurethane (PU), polytetrafluoroethylene (PTFE) and others.
Based on surface type, the pipe coatings market has been segmented into internal and external. Based on form, the pipe coatings market has been segmented into liquid and powder. Based on end use, the pipe coatings market has been segmented into oil and gas, marine, chemical processing, water and wastewater treatment and others.
Geographically, the global Pipe Coatings Market has been segmented into five major regions such as Latin America, North America, Asia Pacific, Europe and the Middle East and Africa. The Asia Pacific region is projecting dominance over the global pipe coatings market owing to the mounting demand for energy and increasing government investment for the installation of new pipelines for water and wastewater treatment in this region. The Europe region holds second position in the global pipe coatings market, with respect to market size. The presence of large number of manufactures of pipe coatings is majorly fueling the growth of the global pipe coatings market in this region.
In September 2018, Altamont Capital Partners has announced the acquisition of major assets of The Bayou Companies, LLC, a Louisiana-based leading onshore and offshore pipeline coatings and insulation provider.
In February 2018, Shawcor Ltd., a Canadian oilfield services company, has received a conditional contract with the valuation of C$50 Mn from the EEW Group to provide anti-corrosion and concrete weight coatings for the replacement and upgrading activities being carried out at an offshore pipeline located in Qatar.
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