Pipe Coatings Market

Pipe Coatings Market Size (2023-2028):

The pipe coatings market is expected to rise from USD 8.3 billion in 2022 to reach USD 10.6 billion by 2028, at a CAGR of 6.8% during the foreseen period 2023-2028

Pipe coating is a protective coating put on metal surfaces mainly to stop the corrosion of pipes. The coating is put from one layer to a triple-layer array to go through harsh environments like UV, solvents, moisture, etc. Apart from that, protection from the corrosion pipe coatings is also made for abrasion resistance. The choosing of the correct coating depends on different factors, some of which are performance level, economic consideration, regulatory worries, technical properties needed, etc. Polymeric pipe coating like fusion bonded epoxy coating also called FBE coating and olefin-based is popular owing to coating with lower residual stress and uniform coating without weld tenting.

Drivers of the Pipe Coatings Market:

The high call in the target market is credited to the increasing pipeline business worldwide. Also, the call is driven by the escalating technological developments in the pipeline coatings industry. Pipe coatings have risen as a price-effective and efficient solution for maintaining pipeline probity. The oil & gas segment remains the major customer of pipe coatings and is probable to show major calls for such coatings in the next coming years. The worldwide consumption of oil and gas continues to escalate due to a number of macroeconomic factors. Pipe coatings come with many advantages like enhanced flow assurance, a reduced price of energy, and corrosion prevention that make it a suitable product for pipeline integration management.

The pipe coating industry is driven mainly by the industrial sector of the end-user business. Apart from that, the abrasion resistance overlay (ARO) is a trendsetter in the pipe coating market. Also, regional stringent government rules for the environment and health safety (EHS), assists in the expansion of the pipe coating industry. The fast expansion of end-use businesses, like oil and gas, is estimated to be a major force triggering the development of the global pipe coating industry. Transportation of crucial liquids through pipelines needs proper maintenance of pipes to avoid losses. Governments around the globe are putting stringent rules relating to VOCs that create the requirement for the advancement of the latest and eco-friendly products like water-based coatings that are estimated to drive the industry’s expansion. The focus of government across key regions to improve sewage and potable water infrastructure is also estimated to boost industry expansion over the foreseen period.

Worldwide, the increasing requirement for smooth transportation of oils and acids, and higher shelf life, increasing advancement of infrastructure, stringent government rules for the environment and health safety (EHS) across the world, and escalating shale gas development activities in North America are the major growth drivers of the global pipe coating industry. In addition to that, the emergence and increasing focus on mobile coating technology, escalation in the adoption of pipe coating for applications in new business verticals, and growing economies like China, India, and others, will create new opportunities for the worldwide pipe coating industry.

Challenges in the Pipe Coatings Market

Nevertheless, the higher price of pipe coating and oversupply situations of crude oil are the major restraints for the worldwide pipe coating industry. The escalating raw material price that further adds to the price of manufacturing may prove to be a key challenge for the global pipe coating industry over the outlook period.

PIPE COATINGS MARKET REPORT COVERAGE:

Pipe Coatings Market Segmentation

Pipe Coatings Market - By Pipe Surface

• External

• Internal

Pipe Coatings Market - By Form

• Liquid coating

• Powder coating

Among the two forms present in the pipe coatings industry, powder coatings are the leading and quickest-developing sector.

Pipe Coatings Market - By Product Type

• Metallic Coatings

• Concrete coatings

• Fusion Bonded epoxy powder coatings

• Thermoplastic polymer coating

• Others

The thermoplastic polymer is the most significant type of pipe coating employed in various end-use businesses. The industry for thermoplastic polymer coatings is huge because these polymers provide different benefits like resistance to chemicals and physical stress, high flexibility, and easy applicability.

Pipe Coatings Market - By End-Use Industry

• Industrial

• Drainage and Sewage

• Potable Water

• Oil and Gas

• Others

Oil & gas is the prominent end-use business of pipe coatings owing to the high call for oil & gas across the globe. Pipe coatings are employed for protecting pipelines from corrosion, and therefore pipe coatings are employed on a huge scale in the oil & gas business.

Pipe Coatings Market Regional Analysis:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

North America is estimated to be the dominating region in the global pipe coatings industry, on the basis of value and volume, between 2020 and 2025. Nations in this region, like the U.S., Canada, and Mexico, are experiencing a high escalation in the usage of pipe coatings by various end-use businesses. The escalated call for pipelines in end-use businesses like oil & gas, water & wastewater treatment, chemical processing, and others is driving the local pipe coatings industry. The U.S. is estimated to be the quickest developing area in this region until 2025. Following North America in the Middle East and Africa (MEA), where Saudi Arabia, Qatar, etc., are promising areas for the pipe coating industry, which is supported by the crucial manufacturing of petroleum and other liquids. In the Asia Pacific, China, India, Taiwan, Japan, and South Korea are significant for the expansion of the pipe coating industry. Europe, driven by the UK, France, Italy, and Germany's pipe coating industry size, may experience steady profits due to the availability of different companies in this vicinity. Escalating steel calls along with different operations accompanied by by-product use should drive regional business expansion.

Pipe Coatings Market Key Players:

1. PPG Industries Inc. (US)

2. Akzo Nobel N.V. (Netherlands)

3. Shawcor Ltd. (Canada)

4. Sherwin-Williams Company (US)

5. Axalta Coating Systems Ltd. (US)

6. Arkema (France)

7. Wasco Energy Group of Companies (Malaysia)

8. 3M Company (US)

9. Specialty Polymer Coatings Inc (Canada)