Pipe Coatings are protective coatings on metal pipes that prevent corrosion and abrasion. According to the report that has been recently published by Market Research Future (MRFR), the Global Pipe Coatings Market is anticipated to expand steadily at a CAGR of 5.28% during the forecast period of 2018-2023 and is estimated to grow to value USD 15.96 Bn by the end of the forecast period.
Increasing transportation activities of fluids at a long-distance have generated the demand for high-quality pipeline systems that are resistant to corrosion and rusting. The rise in demand for metal pipes in water supply projects and wastewater management systems has led to increased use of Pipe Coatings. The high demand for Pipe Coatings in management and transportation of fluids is majorly driving the Global Pipe Coatings Market.
The upsurge in population since past few decades has increased the energy demand all over the world. To meet the high energy needs, expanding oil and gas exploration and transportation activities across the globe has led to the increased application of pipe coatings in order to avoid leakages and accidents caused due to corrosion of pipelines, resulting in the expansion of the Global Pipe Coating Market.
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Governments in various countries are extending their support by increasing research funding for the development of high-quality pipe coating materials, which in turn is leading to the growth of the Global Pipe Coating Market. Investment in research and development has led to the introduction of portable coating technology. The mobilization of pipe coating processes is one of the primary drivers of the Global Pipe Coating Market.
The Global Pipe Coating Market has been segmented on the basis of Product Type, Surface Type, Forms and End-Users.
Based on Product Type, the Pipe Coatings Market is segmented into thermoplastic polymer coating, fusion bonded epoxy, metallic coating, concrete coating and others. The thermoplastic polymer coating segment is sub-segmented into polyethylene (PE), polypropylene (PP), polyurethane (PU), polytetrafluoroethylene (PTFE) and others.
Based on Surface Type, the Pipe Coatings Market is segmented into internal and external. Based on form, the pipe coatings market is segmented into liquid and powder.
Based on End-Users, the Pipe Coating Market is segmented into oil and gas, marine, chemical processing, water and wastewater treatment, and others.
Detailed Regional Analysis:
The Global Pipe Coatings Market is segmented into five major regions such as North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia Pacific region is dominating the Global Pipe Coatings Market owing to the proliferation of oil and gas exploration activities and high demand for pipe coatings in water treatment projects in the emerging economies of this region.
The Europe region accounts for the second largest share of the Global Pipe Coatings Market. Increased government support for development of new pipe coating materials and techniques is fueling the growth of pipe coatings market in this region. The pipe coating market in the Middle East and Africa region is expanding significantly whereas, the North America region is projecting steady growth in the Global Pipe Coatings Market.
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New products and treatment procedures are being launched in the Global Pipe Coatings Market, which is building up the competition among the players of the Global Pipe Coatings Market. Innovative initiatives such as strategic mergers and acquisitions and increased research and development expenditure for new product launch are aiding the players in business expansion to sustain the competitive environment of the Global Pipe Coatings Market.
In August 2018, Perma-Pipe International has the appointment of new senior in America region. This appointment is considered to be Perma-Pipe international strategy to improve and expand their business activities.
The Sherwin-Williams Company, AkzoNobel N.V, Axalta Coating Systems Ltd Arkema SA, Specialty Polymer Coating Inc, DowDupont Inc, The Bayou Companies, BASF SE, 3M, LyondellBasell Industries Holdings B.V, LLC, PPG Industries, Inc, Covestro AG, Shawcor, Wasco Energy, and Tenaris are some of the key players functioning in the Global Pipe Coating Market.
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