Pipe Coating Market by Form (Powder and Liquid), by Type (Thermoplastic Coatings, Metal Coatings, Fusion Bonded Epoxy, and Concrete Weight Coatings), by Application (Oil & Gas, Chemical Processing, Industrial, Municipal Water Supply, and Other End-User Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global pipe coating market expected to reach USD 12,781 million in 2024, growing at a CAGR of 5.4% between 2018 and 2024. Pipe coating is a feasible and cost-effective solution to sustain pipes' reliability. Pipe coating offers continuous protecting layers that assist to protect a pipe from corrosion prevention methods used by industries today.

20-Jul-2018 | Number of pages: 110 | Report Code: ZMR-1405 | Report Format : | Status : Published

Analysis

Pipe coating is a shielding to pipe surfaces necessary to prevent pipe corrosion. These coatings are applied to the external and internal side of pipes. 

The global pipe coating market is anticipated to grow at a substantial rate in the forecast period. The growing demand for oil and gas from emerging economies fuels the market growth. The increased use of pipe coating was widely observed in industrial, oil & gas industry, chemical processing, and municipal water supply in most of the regions. The increased demand for the pipe coating in the oil & gas industry segment is anticipated to be the prime driver for the global pipe coating market within the forecast period. The essential requirement of higher shelf life and smooth transportation of oils and acids are driving the growth of pipe coating market in the forecast period. Government rules and regulation regarding VOCs, which creates the need for the development of new and eco-friendly products of pipe coating is anticipated to further increase the growth of the pipe coating market in the forecast period. Growing initiatives by the municipality for improving sewage and potable water infrastructure are also expected to propel the pipe coating market in the near future. Fluctuating raw material prices of pipe coating may hinder the market in the coming years. Lack of warning labels by the manufacturer on products containing pipe coating may limit the global pipe coating market. Nonetheless, product innovation and emerging markets in the Asia Pacific are likely to open new avenues for the major players in the market during the years to come.

Global Pipe Coating Market

Global pipe coating market has been classified in terms of form, type, end-user industry, and region. In terms of form, the pipe coating market is categorized into powder and liquid. Powder coating is the most dominant form, which accounted for the major market share in 2017. Powder pipe coating is widely used in oil & gas industry applications. 

Based on the type, the global pipe coating market is mainly divided into metal coatings, thermoplastic coatings, concrete weight coatings, and fusion bonded epoxy. Based on various end-user industries, the global pipe coating market is mainly segmented into oil & gas, chemical processing, industrial, municipal water supply, and others. In terms of value, concrete weight coatings are expected to grow at highest CAGR in the forecast period owing to increasing environmental concerns. The thermoplastic coating was registered as the leading end-user industry segment of the global pipe coating market in 2017. 

The usage of pipe coating is expected to increase in the oil & gas industry, as it is mainly used for protecting the pipe from corrosion and abrasion. The rapid growth in the oil & gas industry coupled with the increased use of pipe coating as a protective agent from corrosion is driving the market growth. Government focus on developing initiatives, encouraging industrial development, waste and wastewater treatment, chemical processing are some of the factors aiding the development of the pipe coating market in the forecast period.

In terms of geographies, the pipe coating market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America was estimated to be the largest market for pipe coating. This growth is mainly attributed to the rising demand for pipe coating from various countries like the U.S., Canada, and Mexico. Moreover, North America is predicted to be the fastest growing market for pipe coating within the forecast period owing to the increasing demand for pipelines and rehabilitation activities in the region. North America was followed by the Middle East and Africa particularly Saudi Arabia and Qatar because of the high production of gasoline and other products in the region. The market growth rate in North America and the Middle East and Africa is expected to stay higher in the forecast period. 

The major players of the global pipe coating market include The Dow Chemical Company, BASF SE, Covestro AG, Akzo Nobel N.V., Tenaris SA, Wasco Energy Group of Companies, LyondellBasell Industries Holdings B.V., E.I. Du Pont De Nemours & Co., Arkema S.A., and Celanese Corporation, among others.


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