Pipe Coating Market - Forecast(2021 - 2026)
Pipe Coating Market is forecast to reach $12.64 billion by 2026, after growing at a CAGR of 4.5% during 2021-2026. Globally, the need for smooth transportation of oils and acids, and higher shelf life, the construction of infrastructure, stringent government regulations for the environment and health safety (EHS) around the globe, and the shale gas production activities in North America are the prime growth drivers of global pipe coating industry. In addition, emergence and growing emphasis on mobile coating technologies, rise in acceptance of pipe coating for applications in a newer industry vertical, and emerging economies such as China, India and others would generate new opportunities for global pipe coating market. However, the main constraints for the global pipe coating industry are higher pipe coating prices and an oversupply condition for crude oil.
Pipe Coating Market Report Coverage
The report: “Pipe Coating Market report – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Pipe Coating Market.
By Material Type: Thermoplastic, Metal, Fusion Bonded Epoxy, Concrete Weight, and Others
Formulation Base Type: Water base coatings, Solvent base coating, and Ultraviolet curable (UV)
By End-User: Oil & Gas, Industrial, Chemical Processing, Municipal Water Supply and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- The high demand is due globally to the rising pipeline industry. In addition, demand is powered by rising technical developments in the market for pipeline coatings.
- The oil and gas sector has dominated the industry and is likely to expand over the projected period, with pipeline infrastructure growing along with oil and gas exploration and development activities increasing.
- During the forecast era, growth in deep-water exploration and development activities and industrial growth in the Middle East & Africa are expected to create opportunities for the market under research.
- However, the end-use industries are being significantly affected due to the COVID-19 pandemic, as most of the countries have issued “stay at home guidance” i.e., lockdown. This factor is limiting the market growth in current situation.
Pipe Coating Market Segment Analysis - By Material Type
Thermoplastic sector has dominated the market for Pipe Coating Market in 2020. The most commonly used category of pipe coatings is thermoplastic polymer coatings, which consist of PE, PP and PU coatings used in polyolefin coatings. As they have the additional advantage of thermoplastic polymer coatings and fusion-bonded epoxy coatings, 3LPE or 3LPP coatings are now favoured on a wide scale. In the oil & gas industry, they are largely included.
Pipe Coating Market Segment Analysis - By End-User
Oil & Gas sector has dominated the market for Pipe Coating Market in 2020, by growing at a CAGR of 4.1% by growing at a CAGR 2021-2026. In the oil and gas field, pipes are needed for offshore and onshore petroleum production and refineries. In the petroleum field, upstream, midstream, and downstream pipes are needed. It then creates a greater demand for coatings for pipes. Epoxy pipe coating is used widely in the oil and gas industry, as it is resistant to high temperatures, contaminants, and corrosion. Harm occurs without pipeline corrosion safety, resulting in system breakdown and lack of production time. The punishing consequences of additives, water, and sea salt spray are the product of tubing, valves, fasteners, and appliances. In difficult offshore conditions, industry-standard hot-dip galvanized, cadmium and zinc-plated coatings lack toughness and deteriorate. However, patented gas pipe coating materials for metal coatings reduce the effects of rust and abrasion and increase the lifespan of expensive appliances. Exploration and development have begun to increase across the globe with recovery rates in the oil and gas sector. The North Sea, North America, and Middle Eastern areas are seeing a significant rise in offshore oil & gas exploration and development activities.
Pipe Coating Market Segment Analysis - By Geography
APAC dominated the Pipe Coating Market share with more than 37.3%, followed by Europe and North America. The industry demand analyzed is driven by rising demand from the oil and gas, chemical, mining, water and wastewater, agricultural and construction industries for pipeline infrastructure. Countries such as India, Indonesia, China, Vietnam and Singapore have experienced strong growth in the Asia-Pacific construction market, as demand for construction pipes has risen in the region. In addition, gas projects are likely to be built in Indonesia and Malaysia, with pipeline projects in these countries projected to rise. The highest proportion of total gas supplies to be built was accounted for by Malaysia. In addition, water treatment facilities in the area have also been rising due to many reasons, such as growing restrictions on the environment, increasing shortages in the availability of freshwater, and increasing demand for water for industrial use. With all these industry developments, the demand for pipes from these industries has risen, which is expected to further drive the demand for the region's pipe coating sector.
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