Market Review:
The Market Research Future (MRFR) report predicts that the Pipe Coatings Market is likely to garner a CAGR of 5.18% during 2017-2023 and is expected to touch a market valuation of USD 15,968.4 Mn by 2023.
The Oil and Gas Industry are the leading consumer of Pipe Coatings. The need for energy from conventional sources due to rise in environmental concerns is responsible for the increased exploration and transport activities in the oil and gas industry. Furthermore, emerging economies like India, China, and Japan are exhibiting growing number of activities concerning oil and gas like transportation of crude oil, carbon dioxide and water injection lines, and product refining lines. This is surging the need for pipe coatings in the industry. Pipe Coating offers chemical and salinity resistance that allows longevity of pipes. Hence, the purpose to adopt an economic method is fulfilled. Pipe coatings are extensively used in the waste-water treatment plants to improve the durability of pipes. These are the market drivers identified to bolster the Pipeline Coatings Market over the evaluation period.
The fluctuating prices of raw materials can impede the pipeline coating market growth. However, pipeline coatings have successfully limited the volatile organic compound (VOC) emission. This is expected to attract investments for research and developmental activities for the emergence of enhanced innovations. Hence, gain traction for revenue generation for the market.
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Key Players:
Tenaris, The Bayou Companies, LLC, DowDupont Inc, Wasco Energy, Shawcor, LyondellBasell Industries Holdings B.V, PPG Industries, Inc, The Sherwin-Williams Company, AkzoNobel N.V, BASF SE, Axalta Coating Systems Ltd, Arkema SA, 3M, and Specialty Polymer Coating Inc.
Segmental Analysis:
The Global Pipe Coatings Market Study has been segmented into Product, Form, Surface Type, and End-Use.
Based on the Product, the Pipe Coatings Market has been segmented into concrete coatings, fusion bonded epoxy, metallic coatings, thermoplastic polymer coatings, and others. The thermoplastic polymer coatings segment is further classified into polypropylene (PP), polyurethane (PU), polytetrafluoroethylene (PTFE), polyethylene (PE), and others. The thermoplastic polymers are available in several varieties. This makes it an ideal material for the oil and gas industry. Moreover, its corrosion and abrasion resistant properties make it a suitable aid for other industries applications. Hence, the plethoric uses of thermoplastic polymer are spurring its rate of adoption. This is identified as an excellent driver for the thermoplastic polymer segment growth. MFFR forecasts that the thermoplastic polymer will subsequently result in the fastest growing segment over the review period.
Based on the Form, the Pipe Coatings Market has been segmented into liquid and powder.
Based on the Surface Type, the Pipe Coatings Market has been segmented into internal and external.
Based on the End-Use, the Pipe Coatings Market has been segmented into marine, chemical processing, water and water treatment, oil and gas, and others. The surging energy demand, boosting the adoption of pipe coatings in the oil and gas industry is expected to bolster the Global Pipe Coating Market Growth. MRFR estimates the oil and gas segment to garner a CAGR of 5.28% over the forecast period.
Regional Insights:
The Pipe Coatings Market has been geographically segmented into Europe, the Americas, Asia Pacific, and the Middle East Asia and Africa.
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MRFR forecasts, the Pipe Coatings Market in the Asia Pacific to lead, globally. Due to the huge population, the demand for energy is high in the Asia Pacific region. Additionally, the region is expected to experience a surge in urbanization in the coming years. These are likely to bolster the APAC Pipe Coatings Market Growth. The increase in investments, by the government, for deploying new pipe for waste-water treatment can provide a fillip to the regional market.
Europe is expected to hold the second largest market share. The presence of many Pipe Coatings manufacturers in the region is likely to augment the European Pipe Coatings Market Growth over the evaluation period.
About Market Research Future:
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