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Pipe Coating Market Forecast to Reach $12.64 Billion by 2026

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Pipe Coating Market Forecast to Reach $12.64 Billion by 2026

April 24
03:36 2021
Pipe Coating Market Forecast to Reach $12.64 Billion by 2026

Pipe Coating Market
Rapid Growth of End-User Industries Such as the Oil and Gas Industry Has Raised the Demand for Process Pipe Coating, the Main Factor Driving the Process Pipe Coating Market

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 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.

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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.

Pipe Coating Market Drivers

Increasing demand of Pipe Coating

The rapid growth of end-user industries such as the oil and gas industry has raised the demand for process pipe coating, the main factor driving the process pipe coating market. The pipes by which the fluids are carried should be well maintained in order to prevent leakages. The government is enforcing stringent regulations on VOCs, thereby increasing the need for advanced and eco-friendly goods such as water-based coatings to expand the process pipe coating industry. The government’s growing emphasis on upgrading potable water facilities and sewer lines is another aspect that would have a positive effect on the development of the sector.

Pipe Coating Market Challenges

Volatility in raw material prices

One of the main problems for producers is uncertainty in the costs of raw materials for pipe coating. The main threat facing the process pipe coating industry is the rise in the cost of raw materials, which in turn raises the cost of production, which adversely impacts the development of the market. Over the projected period, increasing raw material prices, which further add to the cost of production, may prove to be a major challenge for the global process pipe coating industry.

Pipe Coating Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Pipe Coating Market. Major players in the Pipe Coating Market are PPG Industries Inc., Akzo Nobel N.V., Shawcor Ltd., Sherwin-Williams Company, and Axalta Coating Systems Ltd., Arkema, Wasco Energy Group of Companies, 3M Company, Specialty Polymer Coatings Inc., and Seal for Life, among others.

Acquisitions/Product Launches:

In September 2019, Capital Paints LLC (UAE), which specialises in architectural powder coatings, was bought by Axalta Coating Systems Ltd. This purchase is intended to provide local consumers in the oil & gas and architectural sectors with improved support and technical resources, while also allowing the company to penetrate the Middle Eastern markets.

In March 2019, At Powder Coating 2019 under the brand name PPG ENVIROCRON at the Renaissance Orlando at Seaworld in Florida, PPG Industries Inc. launched a new series of extreme safety edge coatings.

In September 2017, In order to manufacture a large variety of organically modified speciality silicones, Shawcor Ltd. has begun a new plant in Shanghai, China. Products produced in batch processes are used in applications involving polyurethane, paints and coatings, as well as in a number of industrial applications.

In June 2017, The Sherwin-Williams Group, under the terms of the merger agreement, purchased The Valspar Corporation (US).

In December 2016, The purchase of BASF’s global industrial coatings company was completed by Akzo Nobel, improving its role in the coatings industry. The deal encompasses the related inventions, patents and trademarks, as well as two production centres in the United Kingdom and South Africa.

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.

Related Reports :

A. Fusion Bonded Epoxy Coatings Marke

B. Environmental Health And Safety Market

For more Chemicals and Materials related reports, please click here

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