The current pipe coatings market is estimated to be USD 7.5 billion in 2021 and is projected to reach USD 9.4 billion by 2026, at a CAGR of 4.7% during the forecast period. The pipe coatings market has witnessed consistent growth owing to significant growth in oil and gas, water and wastewater, chemical processing, mining, and agriculture. Factors such as the consistently growing oil and gas industry, water and wastewater, and agriculture industries have boosted the demand for pipe coatings across application industries. Moreover, the significant growth of the chemical industry in developing countries and the demand for thermal management solutions are driving the pipe coatings market.
External Coating is estimated to lead the pipe coatings market in 2020
The market for external coatings is projected to be the larger and the faster-growing surface in the pipe coatings market. External corrosion is the major cause of the deterioration of the buried transmission pipelines. The installation of pipelines is costly; hence, external surface coatings play an important role in protecting these pipelines from corrosion and extending their lifespans.
Thermoplastic polymer coatings is estimated to be the leading the pipe coatings type
Thermoplastic polymer coatings are the most used type of pipe coatings. Thermoplastic polymer coatings was the largest segment in terms of value in 2020 compared to the other types of pipe coatings. The high demand for thermoplastic polymer coatings is attributed to its excellent properties and a broad spectrum of applications in various end-use industries. Thermoplastic polymer coatings are expected to rise significantly in the pipe coatings market during the forecast period.
Oil & gas is the largest end-use industry of pipe coatings.
Oil & gas is the largest end-use industry of pipe coatings. The rapid growth in the oil & gas segment drives the market of pipe coatings globally. Furthermore, properties, including superior resistance to corrosion, abrasion, and protection from chemical attacks, are expected to drive the demand for these coatings. Significant development of the pipe coatings market in all the regions can be attributed to the increased use of pipe coatings in municipal water supply, oil & gas, industrial, chemical processing, among other end-use industries.
North America projected to account for the largest share of the pipe coatings market during the forecast period
North America accounted for the largest market share followed by APAC and Europe. The growth of APAC can be attributed to the rapidly increasing demand for pipe coatings from end-use industries, especially water & wastewater treatment and oil & gas. Furthermore, the demand for pipe coatings is mainly triggered by growing demand from oil & gas, among other end-use industries. The Alaska LNG Project is a planned liquefied natural gas export facility near Nikiski, Alaska. It is regarded as one of the largest natural gas development projects in the world. The project, which is expected to cost between 45 USD billion and 65 USD billion, will involve the building of an LNG plant, storage facility, and shipping port, as well as a 1,287-kilometer pipeline from the North Slope to the LNG facility and a gas treatment plant. This way the development in demand for chemical processing and oil & gas, as well as the growing use of pipe coatings in construction, energy, and sewage industries, are the key factors expected to drive the demand for pipe coatings during the forecast period project, which is expected to cost between $45 billion and $65 billion, will involve the building of an LNG plant, storage facility, and shipping port, as well as a 1,287-kilometer pipeline from the North Slope to the LNG facility and a gas treatment plant.
The demand for pipe coatings is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of pipe coatings are PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US). These companies, along with other regional companies, cater to the demand for pipe coatings globally.
By Company Type: Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
By Designation: C-level Executives: 21%, Directors: 23%, and Others: 56%
By Region: North America: 15%, Europe: 45%, Asia Pacific: 27%, South America: 7%, and Middle East & Africa: 6%.
The pipe coatings market comprises major manufacturers such as PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US
Research Coverage
The market study covers the pipe coatings market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, by form, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position pipe coatings market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall pipe coatings market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
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