Pipe Coating Market 2020 growth latest application share recent trends and better investment opportunities by forecast to 2027
Research Reports
Mar 26, 2022
PIPE COATINGS MARKET OVERVIEW
Pipe coatings are effective in maintaining pipelines in the oil & gas industry. Consumption of oil & gas for the 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 an emphasis on value and volume sizing. It contains accurate predictions for the period of 2020 to 2027 (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 2020. It is predicted to showcase a 5.18?GR 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 that 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 a source of revenue to the market. Innovations in novel formulations of coatings can provide new opportunities to the market.
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However, fluctuating prices of raw materials can hamper the market growth.
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 wastewater 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 the massive energy crunch globally.
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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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 the construction of new pipelines and rapid industrialization are its prime growth drivers.
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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 market share. Renovations of current infrastructure can provide a plethora of opportunities to the market.
1 Executive Summary
2 Market Introduction
2.1 Market Definition 24
2.2 Scope Of Study 24
2.2.1 Research Objectives 24
2.3 List Of Assumptions 24
2.4 Market Structure 25
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3 Market Insights
4 Research Methodology
4.1 Research Process 31
4.2 Primary Research 32
4.3 Secondary Research 32
4.4 Market Size Estimation 33
4.5 Forecast Model 34
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