(EnergyIndustry.Net, June 07, 2022 ) The report "Pipe Coatings Market by Surface (Internal and External), type (Fusion Bonded Epoxy, Thermoplastic, Bituminous, Concrete), End-Use Industry (Oil & Gas, Water & Waste Water, Chemical Processing, Mining, and Agriculture), & Region - Global Forecast to 2026"The current pipe coatings market is estimated to be USD 7.5 billion in 2021 and is projected to reach USD 9.4 billion by 2026, at a CAGR of 4.7% during the forecast period.Factors such as the consistently growing oil and gas industry, water and wastewater, and agriculture industries have boosted the demand for pipe coatings across application industries. Moreover, the significant growth of the chemical industry in developing countries and the demand for thermal management solutions are driving the pipe coatings market.
Pipe coatings are applied on pipes to protect the pipelines from corrosion, increase their lifespan, maintain flow, and ensure the delivery of a clean product. The different types of pipe coatings materials are manufactured and further used by various end-use industries in specific applications. Pipe coatings provide corrosion control, where conventional methods, such as frequent pigging and inhibitions, fail to protect these pipes. The selection of suitable coating material is crucial for the long lifespan of the pipes. The two forms of coatings available are powder and liquid forms.
The two forms of coatings used for pipes are liquid and powder coatings. Powder coatings have a larger market share than liquid coatings in the pipe coatings market. Liquid coatings are mainly used for repair & rehabilitation purposes. Initially, the drill-pipe coatings were in liquid form. However, in the 1970s, pressured by the newly passed Clean Air Act, the industry tried to use powder coatings to cut the use of solvents and reduce emissions. Efforts to coat drill pipes with powder were less successful. However, over time, the acceptance of powder coatings was easier as these are environmentally friendly and reduce the emission of VOC content. Currently, powder coatings are preferred over liquid coatings in the end-use industries.
Browse in-depth TOC on "Pipe Coatings Market” 283 - Market Data Tables 57 - Figures 270 - Pages
On the basis of surface coating, the global pipe coatings market is categorized into external and internal surface coating The market for external surface is projected to be the larger and the faster-growing segment of the market, in terms of value globally, during the forecast period. This is because external coating protects the pipelines from corrosion caused by soil and other materials contained in the backfill. External surface coating is the primary protection for the pipes against external corrosion. External corrosion protection is a must for extending the lifespan and reducing the operation cost of a pipeline. Therefore, the external surface market is a larger and faster-growing surface for the pipe coatings market.
On the basis of end-use industry, the global pipe coatings market is categorized into oil and gas, agriculture, water and wastewater, chemical processing, mining, and others.
From oil & gas to chemical processing, pipe coatings are progressively being used as the material of choice. Owing to their unique combination of properties, such as hydrophobic, anti-corrosiveness nature, pipe coatings are gradually being used in various industrial and commercial applications. They are widely used as a thermoplastic polymer, fusion bonded epoxy, metallic, and concrete coatings in various industries, such as oil & gas, chemical processing, and water & wastewater treatment. Oil & gas is the major end-use industry of pipe coatings as it accounts for the largest share of the pipe coatings market. Furthermore, it also finds applications in chemical processing, mining, agriculture, infrastructure, and water & wastewater treatment end-use industries. Significant R&D activities are being undertaken to develop pipe coatings for the oil & gas, chemical processing, and other industries using fusion bond epoxy and polyurethane.
The pipe coatings market is studied for five regions, namely, North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific region accounted for the largest market share in 2020, in terms of both value and volume.
The demand for pipe coatings is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of pipe coatings are PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US). These companies, along with other regional companies, cater to the demand for pipe coatings globally.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.