ID: MRFR/CnM/3546-CR | July 2018 | Region: Global | 141 Pages
Pipe Coating Market is projected to be worth USD 12.92 Billion by 2030, registering a CAGR of 4.9% during the forecast period (2021 - 2030).
$12.92 Billion
4.9%
North America
2021-2030
Pipe Coatings Market Overview
The Pipe Coatings Market size is estimated to grow by 5% for the forecast period. Pipe coatings are a material that is used to fill any gaps in pipes. They are corrosion-resistant coatings that are utilized on the interiors and exterior parts of the pipe. Two major segments of the market are dived into External and internal coatings. External corrosion is caused by chemicals in the pipe. There are active materials in the pipeline stream that reacts with pipe material and causes corrosion. Internal corrosion is due to active chemical materials inside the pipeline that can get in contact with pipe materials and causes this effect.
Pipe coating is the most effective solution to preventing corrosion. The features of this pipe coating provide greater benefits. It can increase wear resistance, improve flow, and reduce corrosion. Other corrosion prevention methods such as cathodic protection, sacrificial anode, and inhibitors are less effective than pipes coatings. Due to this, the adoption of pipe coating is increasing in many regions.
Their easy handling techniques and cost attract many end-users to the market. Efficiency and long pipes life cycle is possible through this coating. In many buildings, large pipes are fixed. These pipes are expansive. The proper finish is required to prevent internal damages. For all these causes the pipe's coating is gaining more traction. These factors will contribute will pipe coatings market value in the forecast period.
Covid analysis
The COVID-19 pandemic has impacted many industries across the globe. Companies are adopting new techniques and operational methods. Everyday business operations are changing. Due to government rules to the prevention of disease spread is important in many workplaces. Due to business shutdowns, social distancing, and limited market operations, there is a decline in the pipe coatings market.
Pipe coating manufacturers face a downfall in production from 2020. Reduced raw materials availability, supply chain disruptions, and restricted trade operations affect the market. The end-users such as glass, foundry, and ceramic & refractories are facing losses in this period. From 2021, the market operations are gradually resuming. The supply and demand are stable. However, newer waves of covid will create more impact on the market. From 2022 new market restrictions will occur.
Market dynamics
Demand from the oil and gas industry is a crucial driver of the market. Oil and gas demand is booming in upcoming years. There is a significant depletion of energy in many regions. Due to this, the need for oil and gas is surging. The oil & gas industry is expected to drive immense demand for the pipeline market. This will result in the expansion of the overall pipe coatings market. Oil and gas contain chemicals that can severely damage the pipes. Especially, gas industries have a heavy investment in pipes.
Due to less lifecycle of these pipes, the expenditure is surging. However, with pipe coating, chemical reaction on pipes and corrosion is reduced. This reduces the overall cost of these industries. The rising demand for oil and gas will lead to more each of these facilities. This will ultimately benefit the pipe coatings market.
Demand is expected to grow in emerging economies. It is a crucial driver that will create more profitability for the market. emerging countries such as APAC and South America have launched new manufacturing facilities. This upgradation will result in more pipeline fixtures and purchases. This will significantly raise the use of pipe coating in these regions.
The emergence of mobile coating technology will create pipe coatings market growth opportunities. Today, Coating services are provided on the project site using mobile coating technology. It is widely known as revolutionary portable coating technology in many regions. There are plenty of benefits of these coating techniques.
This technology enhances project streamlining, reduces shipping and operating expenses. Also, overall timing for coat finishing is reduced by half through this technology. Pipe coatings require this technology for external anti-corrosion procedures. Also, mechanical protection, thermal insulation, and buoyancy control are some of the other benefits.
This technique can lower many costs in the industries. The cost of repairing and maintenance is less. Through this coating, technique pipelines are expected to work more efficiently. The installation of a mobile coating facility is effortless.
Also, training workers to use mobile coating technology is a simple task. All these benefits of mobile coating technology will attract many users. The supply of pipe coating will expand due to the launch of these techniques. Also, rising investments are other factors responsible for promising opportunities. Especially, developing nations will increase investments in the market. All these growth factors will improve the supply rates of this market.
The presence of high VOC in pipes coating is a retaining factor of the market. Today different solvent-based coatings are utilized in pipes. Most of these solvents contain a massive amount of volatile organic compounds. The presence of VOCs and HAPS is hazardous to the environment. High levels of VOC emission into the atmosphere can lead to adverse effects. They are hazardous to humans as well as the environment. They damage the greenhouse effect.
High capital investment is essential to adopt low-solvent or non-solvent coatings. The use of new equipment or organic coating requires more training. Enhanced surface for better wetting and flow are other requirements for this purpose. More technical experience and training on organic coating application is another restraint. These environmental limitations and cost-related restraints can affect market growth.
The less favorable weather conditions and harsh terrains pose a market challenge. Pipe coatings are required in many regions. Additional pipelines erected in different regions such as rocky areas, mountains, steep slopes, rivers, and roads with wet, frozen, trench materials can create new challenges. These regions have unfavorable weather that can pose a challenge to creating providers.
Pipelines installed in cold regions are hard to coat. Less developed infrastructure and providing less support for the pipeline operation is another challenge. Furthermore, pipeline size and larger diameter pipelines in harsh regions are tough to coat. The pipe coating is majorly to resist corrosion. However, in these areas providing corrosion protection is not possible. Wet conditions and harsh weather can create more corrosion on pipes. This makes the work of pipe coatings less effective. All these challenges can hinder the growth of this market.
The growth trend for the pipe coating market trends is stable in the forecast period. There are plenty of factors that contribute to market growth. Demand from the oil and gas market plays a prominent role to boost demand. Further, the thermoplastic polymer coating will gain more traction. The properties of the thermoplastic coating are exceptional and they are cost-efficient. It increases their demand among end-users.
However, higher environmental hazardous of pipe coatings can act as a restraint. Also, harsh weather and climates can pose a challenge to pipe coatings. Still, overall market growth is sustainable growth high growth opportunities. The mobile coating will create an exceptional impact on the market.
The North American region dominates with the highest pipe coatings market share. The rapid increase in demand for pipe coatings from end-use sectors is a major driving factor. Especially, water and wastewater treatment, oil and gas markets have a higher demand for pipe coatings. , Furthermore, the demand for pipe coatings is stirred due to the oil refiners in this region.
The development in demand for chemical processing and oil & gas will continue to positively impact this market. further, the growing use of pipe coatings in construction, energy, and sewage industries are other market drivers. These factors are expected to contribute to high demand in North America.
Segment overview
By Type
By Form
By End-User
By region
Regional analysis
North America will continue to dominate the overall pipe coatings market. There are plenty of demand drivers in this market. The demand from the oil and gas industry sustains the growth. Also, in the forecast period, it is a region with high revenue rates. The Asia Pacific is known as the fastest-growing pipe coatings market.
The rising construction activities contribute to the growth of this market. Also, the new sewage and water treatment facilities increase the adoption rate. Europe is a region that has a higher emanation of pipe coating. In the forecast period, it is a region with higher market growth opportunities.
The key players in the pipe coatings market are
Industry News
Report overview
Report Attribute/Metric | Details |
---|---|
Market Size | 2030 15,968.4 million |
CAGR | 5.18% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2020 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Form, Surface Type and End-Use |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Arkema S.A., Bayou Companies, AkzoNobel N.V, 3M, Axalta Coating Systems Ltd, The Sherwin-Williams Company, Specialty Polymer Coating Inc., BASF SE, DowDupont Inc., PPG Industries Inc., Wasco Energy, Shawcor, LyondellBasell Industries Holdings B.V, Tenaris |
Key Market Opportunities | Adoption of Green Coatings can Offer Lucrative Opportunities |
Key Market Drivers | Increasing Construction and Infrastructural Facilities to Favor the Market Expansion |
The global pipe coatings market size can touch USD 15,968.4 million by 2030.
The global pipe coatings market stood at USD 11,800 million in 2030.
The global pipe coatings market is expected to expand at 5.18% CAGR from 2020-2030
The oil & gas industry drives the global pipe coatings market.
Arkema SA, BASF SE, Shawcor, 3M, AkzoNobel N.V, The Bayou Companies, LLC, Wasco Energy, Tenaris, PPG Industries, Inc, The Sherwin-Williams Company, Specialty Polymer Coating Inc, DowDupont Inc, LyondellBasell Industries Holdings B.V, and Axalta Coating Systems Ltd are key players of the global pipe coatings market.