The global pipe coatings market is estimated to grow from USD 6.9 billion in 2020 to USD 8.5 billion by 2025, at a CAGR of 4.5% during the forecast period. The market is witnessing significant growth globally due to the growing demand for pipe coatings in various end-use industries such as oil & gas, chemical processing, water & wastewater treatment, infrastructure, mining, agriculture and others.
North America is expected to be the leading region in the pipe coatings market, in terms of value and volume, between 2020 and 2025. Countries in this region, such as the U.S., Canada and Mexico, are witnessing a significant increase in the use of pipe coatings by different end-use industries. The increased demand for pipelines in end-use industries such as oil & gas, water & wastewater treatment, chemical processing, and others is driving the for pipe coatings market. The U.S. is projected to be the fastest-growing market in this region until 2025. This growth is mainly due to increased demand for pipelines and rehabilitation activities in the country.
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PPG Industries Inc. (US), Akzo Nobel N.V. (Netherlands), Shawcor Ltd. (Canada), Sherwin-Williams Company (US), and Axalta Coating Systems Ltd. (US), Arkema (France), Wasco Energy Group of Companies (Malaysia), 3M Company (US), Specialty Polymer Coatings Inc (Canada) and Seal For Life (Netherlands) are the leading pipe coatings manufacturers, globally. These companies adopted expansion, new product development, joint venture, and merger & acquisition as their key growth strategies between 2016 and 2020 to earn a competitive advantage in the market.
PPG Industries, Inc. (U.S.) is the most active player in the pipe coatings market and has developed various pipe coatings to cater to the market effectively. The company adopted the mergers & acquisitions, expansions, and new product launches strategies in recent years. As a part of its strategy, in March 2019, the company launched a new line of extreme protection edge coatings at the Powder Coating 2019 under the brand name PPG ENVIROCRON at the Renaissance Orlando at Seaworld in Florida. Further, the company also completed the acquisition of DEUTEK S.A., a leading Romanian paint and architectural coatings manufacturer from the Emerging Europe Accession Fund (EEAF) in January 2017. This helped the company to improve its presence and sales in Europe.
Another company that has established a strong foothold in the pipe coatings market is Axalta Coating Systems Ltd. (U.S.). The company acquired Capital Paints LLC (UAE), which specializes in architectural powder coatings in September 2019. This acquisition is done to provide better support and technical services to local customers in the oil & gas and architectural segments, while also helping the company enter the markets in the Middle Eastern region. Further, the company also launched its new protective coatings brand, Corroless. The Corroless portfolio consists of Axaltas most durable products, engineered to provide exceptional, long-term chemical and corrosion resistance to a wide array of iron and steel substrates
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