Pipe Coatings Market is Estimated to Touch a Valuation of US$ 9.4 billion by 2026- Exclusive Report by MarketsandMarkets™

Pipe Coatings Market is Estimated to Touch a Valuation of US$ 9.4 billion by 2026- Exclusive Report by MarketsandMarkets™

January 28
05:15 2023
Pipe Coatings Market is Estimated to Touch a Valuation of US$ 9.4 billion by 2026- Exclusive Report by MarketsandMarkets™
Browse 283 market data Tables and 57 Figres spread through 270 Pages and in-depth TOC on “Pipe Coatings Market”
Pipe Coating Market by Surface (Internal and External), type (Fusion Bonded Epoxy, Thermoplastic, Bituminous, Concrete), End-Use Industry (Oil & Gas, Water & Waste Water, Chemical Processing, Mining, and Agriculture), and Geography

Pipe coatings are applied on pipes to protect the pipelines from corrosion, increase their lifespan, maintain flow, and ensure the delivery of a clean product. The different types of pipe coatings materials are manufactured and further used by various end-use industries in specific applications. Pipe coatings provide corrosion control, where conventional methods, such as frequent pigging and inhibitions, fail to protect these pipes. The selection of suitable coating material is crucial for the long lifespan of the pipes. The two forms of coatings available are powder and liquid forms. 

The two forms of coatings used for pipes are liquid and powder coatings. Powder coatings have a larger market share than liquid coatings in the pipe coatings market. Liquid coatings are mainly used for repair & rehabilitation purposes. Initially, the drill-pipe coatings were in liquid form. However, in the 1970s, pressured by the newly passed Clean Air Act, the industry tried to use powder coatings to cut the use of solvents and reduce emissions. Efforts to coat drill pipes with powder were less successful. However, over time, the acceptance of powder coatings was easier as these are environmentally friendly and reduce the emission of VOC content. Currently, powder coatings are preferred over liquid coatings in the end-use industries.

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MarketsandMarkets expects the global pipe coatings market size to grow from USD 7.5 billion in 2021 to USD 9.4 billion by 2026, at a CAGR of 4.7% from 2021 to 2026. The market for pipe coatings is segmented based on type as These categories are thermoplastic polymer coatings, fusion bonded epoxy (FBE) coatings, concrete coatings, bituminous coatings, etc. The thermoplastic is the largest and is expected to maintain growth through the forecast period. Suitability for several applications, low cost, and high performance fuels the usage of thermoplastic in several industrial applications. 

On the basis of surface coating, the global pipe coatings market is categorized into external and internal surface coating The market for external surface is projected to be the larger and the faster-growing segment of the market, in terms of value globally, during the forecast period. This is because external coating protects the pipelines from corrosion caused by soil and other materials contained in the backfill. External surface coating is the primary protection for the pipes against external corrosion. External corrosion protection is a must for extending the lifespan and reducing the operation cost of a pipeline. Therefore, the external surface market is a larger and faster-growing surface for the pipe coatings market.

On the basis of end-use industry, the global pipe coatings market is categorized into oil and gas, agriculture, water and wastewater, chemical processing,  mining, and others.

From oil & gas to chemical processing, pipe coatings are progressively being used as the material of choice. Owing to their unique combination of properties, such as hydrophobic, anti-corrosiveness nature, pipe coatings are gradually being used in various industrial and commercial applications. They are widely used as a thermoplastic polymer, fusion bonded epoxy, metallic, and concrete coatings in various industries, such as oil & gas, chemical processing, and water & wastewater treatment. Oil & gas is the major end-use industry of pipe coatings as it accounts for the largest share of the pipe coatings market. Furthermore, it also finds applications in chemical processing, mining, agriculture, infrastructure, and water & wastewater treatment end-use industries. Significant R&D activities are being undertaken to develop pipe coatings for the oil & gas, chemical processing, and other industries using fusion bond epoxy and polyurethane.   

The pipe coatings market is studied for five regions, namely, North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific region accounted for the largest market share in 2020, in terms of both value and volume.

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The demand for pipe coatings is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of pipe coatings are PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US). These companies, along with other regional companies, cater to the demand for pipe coatings globally.

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