The pipe coating industry is primarily driven by the industrial segment of the end-user industry
Market Overview:
The worldwide pipeline coatings industry is predicted to grow from $ 6.7 billion in 2020 to $ 8.1 billion by 2025, with a CAGR of 4.8% over the foreseen period. The high call is attributed to the growing worldwide pipeline industry. Additionally, call is driven by escalating technological advances in the pipe coatings industry. Pipe coating is a protective layer on metal surfaces that is primarily needed to prevent pipe corrosion. Pipe liners can be made below and above the inner and outer layer of ground level. The coating is applied from a single layer to a triple layer matrix to withstand harsh environments like UV rays, solvents, humidity, etc. Furthermore, the corrosion protection of the pipes is also developed to resist abrasion. The choice of a suitable coating depends on several factors, some of which are the level of performance, economic considerations, regulatory concerns, technical property requirements, etc. Coating with lower residual stress and uniform coating without welding. The oil and gas industry is the main end user of the pipe lining industry, as the transport of heavy oil and liquids is very frequent and the useful life of the pipe is of great concern. The pipe coatings industry was slightly affected by the oil industry slump in 2019, but pipe coatings industry expansion is predicted to advance in the second half of 2020.
Market drivers and restraints:
The pipe coating industry is primarily driven by the industrial segment of the end-user industry. The need for longer life and smooth transportation of oils and acids is driving the pipe coating industry. Additionally, Abrasion Resistance Overlay (ARO) is a pioneer in pipe lining solutions. In addition, the strict environmental and health safety (EHS) regulations of the regional government are contributing to the expansion of the pipe coating industry. Pipe liners have become a cost effective and efficient solution for maintaining pipe integrity. The oil and gas industry continues to be the largest consumer of pipe coatings and is predicted to show significant call for these coatings over the next two years. Worldwide oil and gas consumption continues to rise due to a number of macroeconomic factors. The installation of pipelines for the transportation of oil and gas has escalated due to the rapid development of the countries. The profitability of the pipelines has led to the development of both upstream and downstream industries. The pipelines employed in the oil and gas industry are both onshore and offshore. The pipe coatings industry for water transport pipes is also the main end-use sector in the pipe coatings industry. Pipe coatings are widely applied in potable water and sewer pipes.
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Report segmented as:
By type:
Thermoplastic polymer coatings
Fusion bonded epoxy coatings
Concrete coatings
Bituminous coatings
By surface:
External surface
Internal surface
Geographical analysis:
The North American region is a dominant region in the worldwide pipe lining industry. North America is the world forerunner in the pipe coatings industry in terms of value and volume, and this trend is predicted to continue through 2025. Countries in this region, like the United States, Canada and Mexico, are experiencing expansion in oil and gas industry owing to the easy presence of shale gas and the discovery of oil reserves. Furthermore, the chemical processing industry is predicted to grow due to the availability of raw materials in this region. North America has a significant share of the pipe lining industry due to escalated natural gas production from shale formation. North America is followed by the Middle East and Africa (MEA), especially Saudi Arabia, Qatar is lucrative for the pipe lining industry due to large production of oil and other liquids.
Important market players:
PPG Industries Inc. (US), Akzo Nobel N.V. (Netherlands), Shawcor Ltd. (Canada), Sherwin-Williams Company (US), and Axalta Coating Systems Ltd. (US), Arkema (France), Wasco Energy Group of Companies (Malaysia), 3M Company (US), Specialty Polymer Coatings Inc (Canada) and Seal For Life (Netherlands) are the dominating pipe coatings makers in the industry.