The transport of liquids over long distances has increased lately, which has led to the construction of pipelines on land and in the sea increasingly. This particular network of pipelines allows the movement of liquids like water, sewer, crude oil and petroleum products and natural gas over different topographies. As it is extremely important to ensure the integrity of these pipelines, the coatings done on the inside as well as outside these pipelines, act as the first line of defense against corrosion, which is one of the most basic reasons for the deterioration of these pipelines. With the rise in the number of pipelines that have been laid over time to transport various commodities to the distribution centers and urban areas where these commodities are consumed, the demand for coatings has also grown in relation to this demand.
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The market is expected to attain revenues worth USD 15,968.4 million while expanding with a 5.18 percent approximately in the forecast period. The Pipeline Coatings that are used today have been made from plain, single-material products mostly such as asphalt or coal tar. The importance of coatings for pipes is very high globally because unchecked corrosion of the pipe’s wall can lead to service interruptions, leaks, and even explosions. The market is powered by the escalated investments made by the governments of emerging countries towards water & wastewater treatment facilities which are fuellling growth of Pipe Coatings around the world. Furthermore, the demand for sewage treatment has also been on the upswing due to speedy urbanization in the developing economies which is also been identified as a positive cue for the market’s development.
The growing populations in the developing economies globally have boosted the energy demand significantly, which in turn is positively adding to the progress of the pipe coatings market. The main reason for this demand being the mounting reliance on energy witnessed in recent times that has further enhanced the oil and gas operations globally, leading to a surge in the oil production. The need to transport oil that is produced subsequently is expected to boost the pipe coatings industry positively. The manufacturing firms in the pipe coating market are actively identifying opportunities to capitalize on such as the favorable government regulations in certain regions which include foreign direct investment (FDI) policies and reduced taxes. This activity on their part will further contribute to the growth of the market in the forecast period.
The segmentation of the Pipe Coatings Market is carried out on the basis of Product, Form, Surface Type and End Use. The product based segmentation of the market comprises of metallic coatings, fusion bonded epoxy, concrete coatings and thermoplastic polymer coatings which is further sub segmented into polypropylene (PP), polyethylene (PE), polyurethane (PU), polytetrafluoroethylene (PTFE). By form, the market is segmented into liquid and powder. The segmentation on the basis of Surface Type segments the market into external and internal. The end use segments of the market consists of water & water treatment, marine, oil & gas industry, chemical processing and others.
Detailed Regional Analysis
The Pipe Coating Market is segmented covers regions such as Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa. In 2016, the Asia Pacific market has appeared as a global frontrunner in the Pipe Coating Market. The region is likely to reach a market value of 11,525.9 kilotons at a CAGR of 5.13% by 2023. The mounting demand for energy in the region is among the key factors fuelling the market globally. Furthermore, the growing government expenditure on new pipelines for water and water treatment industry and oil & gas industry is also likely to contribute to the market for pipe coatings. China is among the most promising nation, which is closely shadowed by India and Japan. China is expected to develop at a CAGR of over 6 percent during the forecast period, while the Indian Pipe Coating Market is expected to grow at a CAGR of over 5.5 percent. The developing industries in the region have fuelled the demand for pipe coatings, which, in turn, is driving the demand for the product in the region.
The European region is the next major pipe coating market following the Asia Pacific region. In this region, Germany and Russia are the foremost nations responsible for an important share of the region. The growing demand for Pipe Coating in this region is accredited to the increasing oil and gas industry together with the growth of new pipelines in the region. However, the existence of stringent EU regulations is a key barrier to the market’s growth. The European market is anticipated to develop at a CAGR of over 4.10 percent during the forecast period. Meanwhile, the North American region and is anticipated to display a stable CAGR over the review period. The Middle East and Latin American region, on the other hand, are expected to demonstrate sound growth during the forecast period.
A trend of volume-driven, robust growth has been observed as new products and treatment procedures are being launched in the market. The competitors are ensuring constant process enhancements to meet market demands. The market for Pipe Coatings contains many adept players. Therefore, most of the manufacturers are substantially investing in research and development. The Sherwin-Williams Company, AkzoNobel N.V, Axalta Coating Systems Ltd Arkema SA, Specialty Polymer Coating Inc, DowDupont Inc, The Bayou Companies, BASF SE, 3M, LyondellBasell Industries Holdings B.V, LLC, PPG Industries, Inc, Covestro AG, Shawcor, Wasco Energy, and Tenaris are the a few of the important companies functioning in the pipe coating market globally.
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