As per Market Research Future (MRFR) analysis, the global pipe coatings market is expected to grow to USD 15,968.4 million from 2020 to 2027 (forecast period). The report presents the strengths, opportunities, challenges, and emerging market risks and offers a complete summary of the global business environment with the effect of COVID-19.
Pipe coatings are protective coatings applied to the interiors and exteriors of the pipelines to avoid corrosion. The market for pipe coatings is split into two segments, namely external and internal coatings. External corrosion typically occurs in the form of oxide formation due to exposure to air and water, whereas internal corrosion is the result of chemically active materials present in the pipeline stream interacting with the pipe material.
Pipe coating has been shown to be the most effective method of prevention of corrosion, providing improved wear resistance, increased flow, and decreased abrasion damage. Many forms of corrosion prevention, such as impressed current cathodic protection, sacrificial anode, and inhibitors, are not very effective and are only used in conjunction with pipe coatings. Coatings are determined based on parameters such as working environment (water, air, and soil), working temperatures and pressures, fluid state and chemical properties, viscosity, and flammability.
Market Dynamics
Pipe coatings industry have emerged as a cost-effective and reliable solution to protect the integrity of the pipeline. The oil gas industry continues to be the largest consumer of pipe coatings and is expected to have a significant demand for these coatings over the next few years. Global consumption of oil and gas continues to increase due to a variety of macro-economic factors. Installation of oil and gas pipelines has increased due to fast-developing countries such as China, Mexico, India, Brazil, the UAE, Qatar, etc. that are opening new growth windows for the oil and gas industry.
Pipe coatings come with various benefits, such as improved flow assurance, reduced energy costs, and corrosion prevention, making it an ideal product for pipeline integration management.
Market Segmentation
The global market for pipe coatings has been segmented into product type, surface type, form, and end-use.
Based on product type, the global market for pipe coatings has been segmented into thermoplastic polymer coatings, concrete coatings, fusion bonded epoxy, metallic coatings, others. Thermoplastic polymer coatings are further segmented into polyethylene (PE), polypropylene (PP), polyurethane (PU), polytetrafluoroethylene (PTFE), and others.
Based on surface type, the global market for pipe coatings has been segmented into internal and external.
Based on form, the global market for pipe coatings has been segmented into liquid and powder.
Based on end-use, the global market for pipe coatings has been segmented into oil and gas, marine, chemical processing, water, and wastewater treatment.
Regional Analysis
Regionally, the global market for pipe coatings has been segmented into North America, Europe, Asia Pacific, The Middle East Africa, and Latin America.
The Asia Pacific, led by South Korea, Japan, India, and China, is expected to expand significantly in the near future. Increased construction spending and increasing demand for natural gas, mainly in China and India, are expected to drive regional growth. Rising agricultural activities and issues related to the water crisis may increase the need for water transport and increase the industry's growth. A promising development in agricultural, residential, and industrial applications is expected to fuel the global pipe coatings market.
Europe led the UK, France, Italy, and Germany will see steady growth due to the presence of numerous companies in the area. Growing demand for steel, along with various operations associated with the use of products, will drive regional growth. Rising oil gas expenditure, along with upgrading refineries and drilling sites, will drive industry growth.
Key Players
Some of the leading participants operating in the global pipe coatings market share are AkzoNobel N.V, Arkema SA, Axalta Coating Systems Ltd, 3M, The Sherwin-Williams Company, PPG Industries, Specialty Polymer Coating Inc, DowDupont Inc, BASF SE, Inc, Shawcor, The Bayou Companies, Wasco Energy, LyondellBasell Industries Holdings B.V, LLC, and Tenaris.
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