The "Pipe Coatings Market by Type (Thermoplastic Polymer Coatings, Fusion Bonded Epoxy Coatings, Concrete Coatings, Bituminous Coatings), Surface (External Surface, Internal Surface), Form, End-use Industry and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Market Size for Pipe Coatings is Projected to Reach from USD 6.9 Billion in 2020 to USD 8.5 Billion by 2025, at a CAGR of 4.5% from 2020 to 2025.
Growing demand from the oil & gas industry is one of the major drivers for the pipe coatings market, globally. The growth of this industry is expected to drive the demand for pipelines in the future due to increasing upstream, midstream, and downstream activities. Furthermore, the global pipe coatings industry is expected to grow with the increasing demand in economies such as China, India, South Korea, Africa, Mexico, the U.S., Germany, Brazil, and Argentina, among others.
Fusion bonded epoxy, the fastest-growing pipe coatings type.
Fusion Bonded Epoxy (FBE) coating is the fastest-growing type of pipe coating. This is due to its high adherence to steel pipes and the fact these are resistant to chemical and physical stress. These coatings are widely used in various industries as they also help to improve the flow efficiency of the contents in the pipes.
The powder coatings segment is estimated to drive the market during the forecast period.
Based on form, the pipe coatings market has been segmented into two types -powder coatings and liquid coatings. The powder coatings form is projected to be the largest and the fastest-growing form in the pipe coatings market during the forecast period. These are used more commonly as they are environment-friendly. Furthermore, the use of powder coatings is more cost-effective compared to liquid coating and guarantees less wastage of the coating during application on the pipelines.
The external surface coatings is projected to register the highest CAGR during the forecast period.
Based on the surface, the pipe coatings market can be divided into two major types - external surface and an internal surface. The external surface is projected to be the fastest-growing surface for the pipe coatings market during the forecast period. This is because the external coating protects the pipelines from corrosion caused by soil and other materials contained in the backfill. The external corrosion protection is a must for the lifetime and reduced operation cost of a pipeline. Therefore, the external surface is the largest as well as the fastest-growing surface for the pipe coatings market.
North America, the largest market, and APAC, the fastest growing market for pipe coatings.
North America is the largest market for pipe coatings globally, with the U.S. being the leading market in this region, which is attributed to the large oil & gas industry. The increasing demand for shale gas is driving the market in this region. Further, transportation, distribution, and exploration & production (E&P) activities in the oil & gas industry are expected to drive the market. APAC is estimated to be the fastest-growing market for pipe coatings during the forecast period, 2020-2025. This is majorly due to the increasing demand for oil & gas in the region. The demand has promoted E&P activities for onshore and offshore reserves, which is facilitating the demand for pipelines and hence driving the pipe coatings market.
- Growth in the Oil & Gas and Infrastructure Industries
- Growing Technological Advancements
- High Content of Volatile Organic Compounds (VOCs) in Pipe Coatings
- Mobile Coating Technology
- Unfavorable Weather Conditions and Harsh Terrains
- PPG Industries, Inc.
- Akzo Nobel N.V.
- Shawcor Ltd.
- The Sherwin-Williams Company
- Axalta Coating Systems Ltd.
- Arkema S.A.
- Wasco Energy Group of Companies
- The 3M Company
- Specialty Polymer Coatings Inc.
- Seal for Life
- Winn & Coales (Denso) Ltd.
- Aegion Corporation
- Eupec Pipecoatings France SA
- L.B. Foster Company
- Arabian Pipecoating Company Ltd.
- Allan Edwards
- Celanese Corporation
- Hempel A/S
- Perma-Pipe Inc
- Corinth Pipeworks
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