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Pipe Coatings Market- Emerging Trends, Leading Global Players Insight and Forecast upto 2023
Pipe Coatings Market is dominated by North America region which is holding 28% global Pipe Coatings Industry share followed by Asia Pacific and Middle East and Africa
As per our Analysis, some of the prominent market factors and trends identified in the Global Pipe Coatings Market include increasing chemical industries owing to rapid industrialization in the developing countries such as China, India and Japan; rising demand for crude oil pipeline transportation through underwater, and rising environmental concerns in order to curb the oil spills and gas leakages from the oil & gas industry owing to the pipeline damages. Moreover, the demand for pipe coatings is predicted to witness a significant growth over the assessment period due to surging water treatment industry. Rising population across the globe, increases the demand for water supply is anticipated to be an important driver for pipe coatings market during the review period. The biggest challenges in manufacturing pipeline coatings for construction projects in unpredictable environments, compatibility with new developments in steel pipe technology, installing pipelines in marine and other deeper environments, pipelines operating at higher temperature environments impose emission of volatile organic compounds (VOCs) threat, pipelines carrying increasingly aggressive materials, under harsher conditions through more difficult environments, and customers increasingly interested in cost reduction of Pipe Coatings. However, implementation of strict regulations by various government bodies have restricted the use of toxic organic chemicals used in the production of pipe coatings, which is expected to hamper the growth of the market.
Pipe Coatings are manufactured for various industries in order to protect them from chemical reactions and increase the working life of pipelines. These coatings provide excellent resistance to alkalis and acids, broad temperature range functionality, strong adhesion, resistance to electricity, good bendability, and also internal coatings enhance the fluid flow.
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Top Global Key Players:
Some of the prominent players operating in the global pipe coatings market are BASF SE (Germany), Ecolab (U.S.), The Dow Chemical (U.S.), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Akzo Nobel N.V. (the Netherlands), Axalta Coating Systems Ltd. (U.S.), 3M (U.S.), Wasco Energy Ltd. (Malaysia), SHAWCOR (Canada), Specialty Polymer Coatings, Inc. (Canada), and Arkema S.A. (France) among others.
The global pipe coatings market is segmented on the basis of type, application, and region. Based on type, the market is categorized into oil soluble and water soluble. Based on application, the pipe coatings market is classified into crude oil, sludge oil treatment, oil based power plants, petro refineries, lubricant manufacturing, and others. Based on region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The Global Pipe coatings market is categorized into five regions based on geography, namely- North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
Among them, North America accounts for around 28% market share as of 2016 and is predicted to grow with the healthy CAGR over the assessment period. The Middle Eastern & African market is categorized into Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait. The aforementioned countries are predicted to drive the demand for pipe coatings in the upcoming years due to presence of matured oil reserves, resulting in the higher consumption of pipe coatings. Moreover, the rising demand for energy and increasing crude oil production in the Middle East & African countries is predicted to fuel the growth of the market. In North America, the pipe coatings market is predicted to grow with the highest CAGR during the assessment period, 2017 to 2023. Crude oil is the main area for pipe coatings consumption in the region, as majority of crude oil produced in North America is from oil sands, offshore oilfields, shale formations & tight oil. Relatively, crude oil production from oil sands and offshore oilfield results in increased consumption of pipe coatings, which in turn lead to high demand for pipe coatings in this region.
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