Pipe Coatings Market

Pipe Coatings Market - An Overview

The global pipe coatings market is expected to witness strong growth during the forecast period between 2021 and 2031.

Pipe coatings are used to fill gaps in pipes. Pipe coatings are used in both inner and outer components of any pipe. Pipe coatings are segmented into external and internal coatings.

External corrosion in pipes happens owing to chemical substances in the pipe while internal corrosion is caused by chemical materials that are prevalent within the pipeline, which come in contact with pipe materials and corrode the pipe.

Pipe coatings have proven beneficial in surface characteristics such as protection from heat, color, wear and tear, and increased resistance to electricity.

Pipe Coatings Market - Trends and Opportunities

Rising product demand from oil and gas industry is the key growth driver for global pipe coatings market.

Also, increasing penetration of mobile coatings technology is expected to fuel the growth in overall pipe coatings market, in the coming years.

In addition to this, increasing advancements to pipe coatings could fuel product demand and help create revenue-generating opportunities for leading players in pipe coatings market, in the years ahead.

Surge in demand to produce shale gas could trigger the demand for pipe coatings and stimulate the growth in pipe coatings market, in future.

Rapid industrialization, especially in developing countries and improving economic conditions could also help augment the growth in pipe coatings market, in years to come.

Powdered product segment is expected to make the largest contribution, in terms of revenue, to overall market owing to eco-friendly product nature, absence of solvent constituents and improved product durability leading to increased product demand in prominent countries worldwide.

Pipe Coatings Market - Competitive Landscape

Competitive landscape in global pipe coatings market is fragmented owing to increased presence of prominent players in global market. Many of these players have become successful owing to years of delivering consistent results and are projected to account for a large share in overall market, in future.

New pipe coatings launch could assist well-established players in gaining an edge over competitors and help generate revenue streams.

Research and development activities to produce improved coatings could be key, revenue-generating growth strategy for leading players in global pipe coatings market.

Leading pipe coatings market players are signing collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.

AkzoNobel, in January 2021, signed a collaborative agreement with Guangdong Province in a bid to offer powder coatings to water pipeline in China.

Some of the prominent players in global pipe coatings market players include The Dow Chemical Company, Covestro AG, Bayou Companies, and Celenese Corporation.

Pipe Coatings Market - Regional Assessment

The global pipe coatings market is classified into five regions, namely, North America, Asia Pacific Europe, Latin America, and Middle East and Africa.

North America is expected to be the dominant region in global pipe coatings market in future because of increasing demand from oil and gas industry in countries such as the U.S and Canada.

Prominent presence of well-established market players in countries such as the U.S and Canada could also help North America emerge as leader in global market, in future.

Asia Pacific is anticipated to witness significant growth in global pipe coatings market owing to rising foreign direct investments in developing economies in countries such as India and China.

Europe is projected to witness strong growth in overall pipe coatings market in the coming years owing to reducing gas manufacturing leading to increased demand for pipe coatings in countries such as the U.K and Germany.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in pipe coatings market, in future.