ID: MRFR/CnM/3546-CRR | July, 2018 | Region: Global | 141 pages | Cooked Research Reports
Global Pipe Coating Market by Product Type, by Surface Type, by End use, by Region and Forecast to 2023
In 2017, the global market for pipe coatings surpassed a valuation of USD 11,800 Mn and the figure is expected to grow to USD 15,968.4 Mn by the end of 2023. Pipe coatings have emerged as a cost-effective and efficient solution for maintaining pipeline integrity. The oil & gas sector remains the prime consumer of pipe coatings and is likely to present significant demand for such coatings over the next couple of years. The global consumption of oil and gas continues to rise owing to a number of macro-economic factors. Installation of pipelines for oil and gas transportation has increased owing to fast-developing countries such as China, Mexico, India, Brazils, UAE, Qatar etc., who are opening new growth windows for the oil & gas sector. Pipe coatings come with several benefits such as improved flow assurance, decreased cost of energy, and corrosion prevention, which make it an apt product for pipeline integretion management.
This market perspective provides a detailed analysis of pipe coatings demand, sales and supply pattern on a global scale. It also makes an assessment of the global pipe coatings market as well as delivers a judgment on the recent historical growth of the market along with revenue forecast till 2023. It covers the current market size and key growth trends in pipe coatings industry. Market valuation of top selling pipe coatings such as thermoplastic polymer coatings, fusion bonded epoxy, metallic coatings, and concrete coatings is also available in the report. It also offers an analysis of global demand internal and external pipe coatings. Based on form, revenues from liquid and powder based pipe coatings have been assessed for market sizing. Leading end use industries discussed in the report include oil & gas, water and wastewater treatment, chemical processing, and marine. The report also analyzes company strategies, market share, and growth outlooks. The data and insights available in the report are based on an analysis of global pipe coatings market, which covers North America, Latin America, Asia Pacific (APAC) Europe and the Middle East and Africa (MEA).
The Global Pipe coatingMarket Report covers the value, volume, market share, country level break down for each segment, market dynamics, supply chain analysis, porter’s five forces analysis, market pricing analysis, competitive landscape, and company profile.
AkzoNobel N.V, Arkema SA, 3M, The Sherwin-Williams Company, Axalta Coating Systems Ltd, Specialty Polymer Coating Inc, DowDupont Inc, BASF SE, PPG Industries, Inc, Shawcor, Wasco Energy, LyondellBasell Industries Holdings B.V, The Bayou Companies, LLC, and Tenaris
Market Research Future has a dedicated team of experienced analysts who are highly skilled in a broad spectrum of research techniques which align with MRFRs perseverance for quality, objectivity, and accuracy. We utilize both primary and secondary resource inputs to determine key trends, challenges, and opportunities that may affect the outcome of business decisions. Surveys and interviews make up primary research and are conducted with industry experts. Credible sources such as white papers and SEC filings make up secondary research and assist in corroboration of primary research. Extensive analysis of the market allows MRFRs data analysts to cover every parameter and provide extensive coverage of the competitive landscape and new revenue pockets. Market estimations and market pertinent events are verified using top-down and bottom-up approaches to ensure accuracy that meets the highest standards.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for pipe coating
By Product Type
By Surface Type
By End use
Valued at USD 11.85 billion in 2017, the global pipe coating market is expected to grow to value USD 15.96 billion by the end of 2023 and witness a moderate CAGR of 5.18% during the forecast period of 2018 to 2023. The increasing demand for pipe coatings in the chemical processing industry and the growth of related industries is expected to drive the global market toward an upward trend.
Increasing energy demands has greatly augmented oil & gas activities across the globe. This industry employs the extensive use of pipes, which are a cost-effective method of transportation and storage. In order to ensure longevity and reduced effects of corrosion, pipe coatings are used both internally and externally. The oil & gas industry is expected to be a key driver of market growth during the assessment period as pipes are used for product refining lines, CO2 & water injection lines, transportation of crude & natural gases. Additionally, the growth of crude and natural gas trade has created the need for well-connected pipelines, particularly in regions with emerging economies. Use of pipe coatings to ensure the quality of the pipes and to maintain the quality of the transported material is vital, thus facilitating market growth. Globally there is a prevalence of urbanization with emerging economies experiencing rapid urbanization. The growing demand for appropriate sewage and water treatment processes in these emerging economies is expected to drive pipe coatings market growth. Pipe coatings are crucial in pipes used for sewage and water treatment facility networks as the constant contact of water is likely to increase the risk of corrosion, pipe coatings mitigate this problem. Market players have developed coatings specific to the use of the pipe. For instance cement mortar, coal tar enamel and liquid applied epoxy are used primarily in water transport pipes. Growing global population, increased demand for energy and other consumables have increased the need for well-connected pipes which are properly coated for protection.
Several raw materials are used to create different types of pipe coatings for different purposes. Pigments, dispersants, curing agents, binder & resins, solvents, and additives are some of the raw materials that are used extensively in the development of pipe coating products. The prices of these raw materials are often unstable and tend to fluctuate with a tendency for the price to move upwards making them somewhat expensive. This directly affects the pipe coatings market as these raw materials are crucial, the increasing prices of raw materials are likely to result in increased prices of the final product which in turn, affects the demand for pipe coatings negatively. However, investment in research and development activities has brought about the development of mobile coating technologies which substantially reduced logistic costs incurred in the transportation of pipes. The innovation in the coatings process is leading to the discovery of considerable opportunities for the global market. Another significant factor encouraging expansion of the pipe coatings market is the growing concern regarding the environment which has led end-users to demand products with low emission of volatile organic compounds. The shifting preference for coatings that contain low VOC is expected to facilitate the development of innovative products that meet these demands.
The global pipe coating market is segmented on the basis of product type, surface type, form, end-use, and region. By product type, the market is segmented into thermoplastic polymer coatings, fusion bonded epoxy, metallic coatings, concrete coatings and others. The thermoplastic polymer segment accounts for the largest share of the total market due to a resistance to abrasion and corrosion which makes this material and its various varieties ideal for use in oil & gas pipelines.
By surface type, the market is segmented into internal and external. By form, the market is segmented into liquid and powder. Of these, powder coatings are expected to possess the majority share due to restriction on the use of solvent-based coatings and growing environmental concerns worldwide.
By end-use, the market is segmented into oil & gas industry, marine, water & water treatment, chemical processing and others. The Oil and gas industry is expected to be the biggest consumer of pipe coatings as the industry is growing considerably to meet increasing energy demands. The oil & gas segment is projected to witness a CAGR of 5.28% during the assessment period.
The pipe coating market is led by the Asia Pacific, which is additionally projected to be the fastest growing region in the global market during the review period. Rapidly growing oil & gas and chemical processing industries in this region are expected to be major contributors to market growth. Moreover, the region is making substantial investments in renovation and implementation of new pipelines. The region is witnessing increasing industrialization due to the availability of cheap labor and lower overall operating costs; this is set to increase demand for pipe coatings during the forecast period.
Europe accounts for the second largest market and is closely followed by North America. Both regions have similar growth patterns, and the market for pipe coatings have reached some degree of maturity thus shifting the focus toward developing economies. However, ongoing renovations of infrastructure and the presence of several key players in the region that invest in the development of novel products are responsible for the significant positions that these regions maintain.
The competitive landscape of the global pipe coating market includes various leading players who implement various strategies to promote market growth. Innovations of the existing pipe coating technology and the development of pipe coatings with highly desirable traits are some of the strategies used by prominent players. Profiled extensively in the report are market leaders such as AkzoNobel N.V., Axalta Coating System Ltd., Trnaris, Shawcor, and LyondellBasell. Other important market players that have been analyzed include 3M, The Sherwin-Williams Company, BASF SE, Wasco Energy and Arkema among others.
Global Pipe Coating Market: Competitive Landscape
Some of the prominent players covered in the global pipe coating market report are Covestro AG, AkzoNobel N.V, Arkema SA, 3M, The Sherwin-Williams Company, Axalta Coating Systems Ltd, Specialty Polymer Coating Inc, DowDupont Inc, BASF SE, PPG Industries, Inc, Shawcor, Wasco Energy, LyondellBasell Industries Holdings B.V, The Bayou Companies, LLC, and Tenaris. Among the above-mentioned companies, AkzoNobel N.V, Tenaris, Shawcor, Axalta Coating System Ltd, and LyondellBasell are the major players operating in the global pipe coatings market.
The global market for pipe coatings consists of many proficient players. Therefore, most of the manufacturers are substantially investing in research and development. Some of the key industry players adopt various organic and inorganic strategies to keep their domination intact in the market. The producers have adopted various strategies such as acquisition, product innovation, joint ventures, capacity expansion, and agreements as part of their business survival strategies.
AkzoNobel N.V. is one of the leading producers of pipe coating across the globe. The company is headquartered in the Netherlands and having presence in 80 countries across the globe. The company has a wide range of products in the coatings market and is considered to be the largest manufacturer of powder coatings in the world. In terms of pipe coatings, their powder coating product range RESICOT offers superior performance and has a lower carbon footprint. AkzoNobel also has Universal Pipe Coating (UPC) product INTERBOND, which has an excellent temperature range of -196°C to 205°C with enhanced corrosion protection abilities in uninsulated as well as insulated environments. The company operates mainly in three segment specialty chemicals, performance coatings, and decorative paints with a major geographical foothold in Europe, Asia Pacific, and North America among others. The company generated 40% revenue in the performance coating segment in 2017 and has a workforce of over 40,000 across the globe.
Tenaris engages in the manufacturing and supplying of steel and other pipeline products and services mainly to the energy industry. The company operates mainly through two segments namely tubes and others. The tuber is the major segment generating of revenue of over 93% in 2017. The tube segment includes the production of both seamless and welded tubular products and related services, particularly for the oil and gas industry. The company is headquartered in Luxembourg and has a workforce of over 21000. Tenaris operations are spanned across the globe with steelmaking, pipe rolling and forming units in more than 15 countries and has research and development facilities and product testing facilities in over 25 countries.
Shawcor is a leading energy service company specialized in products and services for pipelines and pipe services. The company mainly operates through two business segments namely pipeline & pipe services and petrochemical & industrial segment. The company provides pipe coatings, insulation coatings, custom coatings, and joint field applications for both offshore and onshore applications. The company’s major strategy is to make a substantial investment for the technological up gradation in the forthcoming years. It is one of the largest pipeline product and service providers with over 85 years of pipeline service experience. The company operates its network with the workforce of around 6000 across the globe.
Axalta Coating System Ltd. along with its subsidiaries is involved in the manufacturing of coating solutions for vehicles, industrial, and refinish applications. The company operates in two business segments: transportation coating and performance coating group. Axalta’s product NapGard® is a leading choice in the global fusion bonded thermosetting epoxy coating among various end-use industries including oil and gas. The company has over 150 years of experience in the coating industry. Moreover, it has 51 manufacturing units, 4 global technology centers, and global presence in more than 130 countries. The company was founded in 1866 and has a major presence in the U.S., the Middle East, and China.
LyondellBasell Industries Holdings B.V, a subsidiary of LyondellBasell, is chemical company headquartered in the Netherlands. The company operates through five segments: Olefins and Polyolefins–Americas, olefins and polyolefins–Europe, intermediates and derivatives, and refining & technology. It has a major presence in the U.S. and Germany. The company is focusing on constant capacity expansion and innovation to extend their market dominance. However, the presence of stringent regulations on the VOC content of coatings is a major threat to its business.