Market Overview:
Pipe coatings are protective
coatings on metal pipes that are applied primarily to prevent corrosion and
sustain harsh environmental conditions such as UV rays, moisture, solvents and
others. The report published by Market Research Future (MRFR) states that the
global pipe coatings market is anticipated to expand steadily at a CAGR of
5.18% during the forecast period of 2017-2023 and reach the valuation of USD
15,968.4 Mn by the end of 2023 from USD 11,800 Mn in the year 2017.
Key Players:
·
AkzoNobel N.V
·
Arkema SA
·
3M
·
The Sherwin-Williams Company
·
BASF SE
·
Axalta Coating Systems Ltd
·
Specialty Polymer Coating Inc
·
DowDupont Inc
·
PPG Industries, Inc
·
Wasco Energy
·
Shawcor
·
LyondellBasell Industries Holdings B.V
·
The Bayou Companies, LLC
Market Drivers:
The substantial rise in the
demand for energy from conventional sources has led to the increase in
exploration and transport activities of oil and natural gas. The extensive
application of pipe coatings in oil and natural gas industry in order to
protect the pipelines from corrosion and environmental damage and increase the
lifespan of the pipes are majorly fueling the growth of the global pipe
coatings market.
The metal pipelines used in water
and wastewater treatment plants are highly susceptible to corrosion due to
constant contact with water and moisture. Increasing demand for high-quality
pipe coatings in water and wastewater treatment plants in order to improve the
durability of pipelines are propelling the growth of the global pipe coatings
market.
Increased research and
development activities are aiding in the introduction of high quality and
long-lasting pipe coating chemicals. High adoption of chemical resistant,
salinity resistant and long-lasting pipe coatings in marine and chemical
processing units are aiding in the expansion of the global pipe coatings
market.
Market Segmentation:
The global pipe coatings market
has been segmented on the basis of product type, surface type, form and end
use. Based on product type, the pipe coatings market has been segmented into
thermoplastic polymer coatings, fusion bonded epoxy, metallic coatings,
concrete coatings and others. The thermoplastic polymer coatings segment has
been sub-segmented into polyethylene (PE), polypropylene (PP), polyurethane
(PU), polytetrafluoroethylene (PTFE) and others.
Based on surface type, the pipe
coatings market has been segmented into internal and external. Based on form,
the pipe coatings market has been segmented into liquid and powder. Based on
end use, the pipe coatings market has been segmented into oil and gas, marine,
chemical processing, water and wastewater treatment and others.
Regional Analysis:
Geographically, the global Pipe
Coatings Market has been segmented into five major regions such as
Latin America, North America, Asia Pacific, Europe and the Middle East and
Africa. The Asia Pacific region is projecting dominance over the global pipe
coatings market owing to the mounting demand for energy and increasing
government investment for the installation of new pipelines for water and
wastewater treatment in this region. The Europe region holds second position in
the global pipe coatings market, with respect to market size. The presence of
large number of manufactures of pipe coatings is majorly fueling the growth of
the global pipe coatings market in this region.
Industry Updates:
In September 2018, Altamont
Capital Partners has announced the acquisition of major assets of The Bayou
Companies, LLC, a Louisiana-based leading onshore and offshore pipeline
coatings and insulation provider.
In February 2018, Shawcor Ltd., a
Canadian oilfield services company, has received a conditional contract with
the valuation of C$50 Mn from the EEW Group to provide anti-corrosion and
concrete weight coatings for the replacement and upgrading activities being
carried out at an offshore pipeline located in Qatar.
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