Pipe Coatings Market To Rise at CAGR of 5.18% Through 2023 :

Pune, India, March 2021 /press release/- Market Research Future Published a Cooked Research Report on Global pipe coatings market Research Report.

Overview

The global pipe coatings market is anticipated to grow at 5.18% CAGR during the forecast period 2018 to 2023. Increasing construction and infrastructural facilities and adoption of green coatings  will be the key factors determining the growth potential of the market, suggest analysts. The market report suggests that volatility of the price of oil as well as expenses associated with pipe will affect the market growth. During the forecast period 2018 to 2023the market for pipe coatings will reach US$15,968.4 million by 2023. The growth in the market to remain positive across all the form, product, end-users, and surface type segments, however, segments like oil & gas and chemical processing have experienced increased growth during the forecast period 2018 to 2023.

The growing initiatives taken to launch new products and growing adoption of green coatings are said to be the key market growth factors. Although, during the forecast period 2018 to 2023, the factors like high expenses associated with the pipe coating and high content of VOC in coatings could hamper the market growth. The global market report also covers form, product, end-users, and surface type segments and in-depth analysis of Europe, Asia-Pacific, North America, and the Middle East and Africa regions.

Market Segmentation

The global pipe coatings market is segmented based on form, product, end-users, and surface type. The market is further segmented based on form into liquid and powder. The market is also segmented into concrete coatings, metallic coatings, thermoplastic polymer coatings, and fusion bonded epoxy on the basis of product. Furthermore, the market is categorized based on end-users into chemical processing marine, oil & gas industry, water & water treatment, and others. The market is further segmented based on surface type into external and internal. 

Fluctuating prices of oil may hinder the market growth. The market research report suggests that companies in the market could be supported by growing adoption of mobile coating as well as rising partnerships and collaborations during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The form, product, end-users, and surface type segments along with regional markets have been analyzed in the global market research report. The research analysts studying the market have put out market forecasts in the market research report in order to support market-based companies. The pipe coatings market research report provides an extensive understanding of the market based on the information and forecasts till 2023.

Regional Overview

Thepipe coatings market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for pipe coatings during the forecast period 2018 to 2023. As per market analysts, the market is set to witness tremendous growth across oil & gas and chemical processing segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the market research report.

Growth factors such as increasing investments made by governments as well as wastewater treatment facilities are set to drive the market growth across the European regional market for pipe coatings. This region covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The pipe coatings market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

The demand for pipe coatings has increased significantly over the years, due to rapid urbanization and technological advances. Companies functioning in the global market are also being challenged due to fluctuating oil prices and high content of VOC in coatings. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2018 to 2023. As the pipe coatings market is set to register a high CAGR of 5.18% and is also anticipated to reach a US$15,968.4 million by 2023, the report highlights key areas companies need to focus on. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report.

The rising demand for sewage treatment, as per the market research report will support the growth. The global pipe coatings market might face slow growth due to price volatility. The report suggests that the market will see a healthy growth in the long run till 2023. The market research report offers detailed analysis of major organizations across the market. The global market research report offers analysis based on data collected from the market’s decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the pipe coatings market.

Industry News

The purchase of LaBarge Coating, located in Houston, was recently acquired by Womble Company which  was founded in 1972, and has purchased coating installations, pipe storage yards, along with many of LaBarge's other tangible properties. Womble Company, Inc. is known to serve major oil and gas firms as one of the largest independent pipe coaters in the Gulf Coast Region. Womble company,Inc. has expanded its corporate activities and supported the expanding client base for coating service with additional infrastructure and opportunities with this acquisition.