USD 9.8 billion
Report ID:
SQMIG15E2533 |
Region:
Global |
Published Date: May, 2024
Pages:
184
|Tables:
125
|Figures:
69
Global Pipe Coating Market size was valued at USD 9.8 billion in 2022 and is poised to grow from USD 10.29 billion in 2023 to USD 14.43 billion by 2031, growing at a CAGR of 4.96% in the forecast period (2024-2031).
Increasing investments in infrastructure projects, particularly in sectors such as oil and gas, water and wastewater, and chemicals, drive the demand for pipe coatings. Infrastructure expansion initiatives, urbanization, and industrialization contribute to the growth of the market. Advances in coating technologies, formulations, and application methods enhance the performance, durability, and efficiency of pipe coatings. Innovations such as nano-coatings, smart coatings, and environmentally friendly formulations drive market growth by offering improved protection and efficiency. Moreover, the coatings having a longer life and better protective properties are chosen for the pipelines. The major factors driving the market's growth are the upsurge in shale oil and gas production in North America, growing infrastructure and industrialization in Asia-Pacific, a rise in irrigation and agricultural activities in Southeast Asia, and rising demand for energy in Europe. On the flip side, plunging oil prices due to oversupply, operational challenges in newly discovered energy reserves, and competition from renewable energy substitutes are the restraints hampering the growth of the studied market.
Overall, the global pipe coating market is poised for continued growth, driven by ongoing infrastructure development projects, increasing demand for corrosion-resistant coatings, and advancements in coating technologies. Focus areas include environmentally sustainable coatings, digitalization and automation, asset integrity management, and regulatory compliance. The global pipe coating market is characterized by its resilience, innovation, and strategic importance in supporting critical infrastructure needs across industries worldwide.
Global Market Size
USD 9.8 billion
Largest Segment
Oil and Gas Industry
Fastest Growth
Oil and Gas Industry
Growth Rate
4.96% CAGR
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Based on the surface, the pipe coating market is divided into two categories - internal surface coatings and external surface coatings. Based on form, the pipe coating market is divided into powder coatings and liquid coatings. Based on type, the pipe coating market is segmented into thermoplastic polymer coatings, fusion bonded epoxy (FBE) coatings, concrete coatings, coal tar enamel, asphalt enamel, vinyl ester-based metal coatings, and others. Thermoplastic polymer coatings can be further segmented into polyethylene (PE) coatings, polypropylene coatings, and polyurethane coatings. Based on end use, the pipe coating market is segmented into the oil and gas industry, water and wastewater treatment, chemical processing, mining, agriculture, infrastructure, and others. The oil and gas industry segment is further divided into upstream, midstream, and downstream segments of the petroleum industry. Based on region Pipe coating market is segmented into North America, Asia Pacific region, Europe, Middle East Asia
Analysis By Type
The pipe coating market is segmented based on the type of coating used. The segments include fusion bonded epoxy, metallic coatings, concrete coatings, and thermoplastic polymer coatings. In the global pipe coating market, the dominant segment by type is fusion-bonded epoxy (FBE) coatings. FBE coatings provide excellent corrosion protection to pipelines, making them highly effective in extending the lifespan of pipelines. They form a strong, durable barrier that shields the pipe surface from corrosive elements such as moisture, chemicals, and soil. FBE coatings are suitable for various types of pipelines, including steel, ductile iron, and concrete. They are used in a wide range of industries, including oil and gas, water and wastewater, and chemical processing, for both new construction and rehabilitation projects. It has a long history of proven performance in the pipeline industry. They have been extensively tested and used worldwide, demonstrating their reliability and effectiveness in protecting pipelines from corrosion-induced damage.
The fastest-growing segment in the global pipe coating market by type is often the thermoplastic coatings segment, with polyethylene (PE) and polypropylene (PP) coatings leading the way. Thermoplastic coatings, particularly polyethylene and polypropylene coatings, are witnessing increasing demand across a wide range of industries, including oil and gas, water and wastewater, and chemical processing. Their versatility and excellent performance characteristics make them suitable for diverse applications in pipeline construction and maintenance.
Analysis By Form
The market for pipe coating can be divided into two segments: liquid and powder.
In the global pipe coating market, the dominant segment by form is often the powder coating segment. Powder coatings offer excellent corrosion protection properties, making them highly effective in extending the lifespan of pipelines. They create a durable barrier that shields the pipe surface from corrosive elements such as moisture, chemicals, and abrasion, thereby minimizing the risk of degradation and failure. Powder coatings can be applied uniformly to the surface of pipes, ensuring consistent coverage and thickness. This uniformity is crucial for providing reliable protection against corrosion and maintaining the integrity of the pipeline over its operational lifespan.
The global pipe coating market's fastest-growing segment by form is often the liquid coatings segment, particularly the polyurethane and polyethylene liquid coatings subsegments. Polyurethane coatings offer exceptional resistance to chemicals, making them suitable for pipelines transporting corrosive substances such as acids, alkalis, and solvents. Polyurethane coatings exhibit flexibility and elasticity, allowing them to withstand thermal expansion and contraction, ground movement, and mechanical stresses without cracking or delamination. The liquid segment is expected to grow at the highest Compound Annual Growth Rate (CAGR). The government has enforced strict regulations on Volatile Organic Compounds (VOC) which has increased the demand for more advanced and eco-friendly products such as liquid-based coatings. This has, in turn, led to an expansion of the process pipe coating industry. Additionally, the government's emphasis on upgrading sewer lines and potable water facilities has become another driving force for the growth of this industry.
Analysis By End Use
The pipe coating industry comprises various sectors, including chemical processing, marine, water and waste management, as well as the oil and gas industry. The oil and gas industry holds the largest share of the market. In this industry, pipes are required for offshore and onshore petroleum production and refineries. Upstream, midstream, and downstream pipes are needed in the petroleum field, leading to a greater demand for pipe coating. The oil and gas industry relies heavily on extensive pipeline infrastructure for the transportation of crude oil, natural gas, and refined petroleum products. These pipelines traverse vast distances, both onshore and offshore, connecting production sites, refineries, storage facilities, and distribution networks.
In the global pipe coating market, one of the fastest-growing segments in terms of end users is the water and wastewater sector. Many regions around the world are investing in upgrading and expanding their water and wastewater infrastructure to meet the growing demand for clean water and sanitation services. This includes the construction of new pipelines for water distribution, wastewater collection, and treatment facilities. In developed countries, much of the existing water and wastewater infrastructure is aging and in need of repair or replacement. Pipe coatings play a crucial role in extending the lifespan of these pipelines by providing corrosion protection and preventing leaks and failures.
Analysis by Region
Asia Pacific is a rapidly growing region for the pipe coating market, driven by infrastructure development, urbanization, and industrialization. Countries like China, India, and Southeast Asian nations are witnessing significant investments in pipeline construction projects across various industries.
North America: North America has a mature pipe coating market driven by the presence of established industries such as oil and gas, water and wastewater, and construction. The region experiences steady demand for pipe coatings due to ongoing infrastructure projects, pipeline maintenance activities, and regulatory compliance requirements.
Europe has a well-established pipe coating market, supported by robust industrial and infrastructure sectors. The region's demand for pipe coatings is driven by pipeline expansion projects, rehabilitation of aging infrastructure, and regulatory compliance initiatives.
The Middle East and Africa region have a significant demand for pipe coatings driven by oil and gas production, water infrastructure projects, and industrial development. Countries like Saudi Arabia, UAE, and South Africa are key markets for pipe coatings.
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North America has often been considered one of the dominant regions in the global pipe coating market is expected to experience significant growth soon, thanks to the rapid expansion of the oil and gas industry. The increased production of oil from the Permian and Delaware Basins has led to a rise in demand for new pipelines, as well as the expansion of existing ones, that connect the Gulf Coast Refineries. Companies prefer pipelines over trucking because they are more cost-effective and allow them to cut losses. Furthermore, the pipe coating industry is expected to see a positive impact due to the recently installed pipelines worth US$ 86 billion in Alaska and British Columbia (Canada). This is expected to increase the demand for pipe coatings to prevent corrosion.
The Asia-Pacific region is currently fastest growing region in the pipe coating the market as an increasing amount of government spending is being directed towards new pipelines for the water and water treatment industry in the region. The demand for this market is driven by the growing need for pipeline infrastructure from various industries such as oil and gas, chemical, mining, water and wastewater, agriculture, and construction. Specifically, in Asia-Pacific, countries such as India, Indonesia, China, Vietnam, and Singapore are experiencing strong growth in the construction sector, which is leading to an increased demand for construction pipes in the region. In addition to this, Water treatment facilities have been increasing in the region due to a variety of factors including growing environmental regulations, increasing shortage of fresh water supply, and rising water demand for industrial use. As a result, demand for pipes has been increasing from these industries, which is expected to further drive the demand for pipe coatings in the region.
In European countries like Germany, the UK, France, and the Netherlands have well-established pipeline networks in industries such as oil and gas, water distribution, and chemicals. Demand for pipe coatings in this region is driven by pipeline refurbishment, maintenance activities, and the adoption of advanced coating technologies. Eastern European countries are also witnessing growth in pipeline construction projects, particularly in the energy sector. Investments in infrastructure modernization and transportation networks further contribute to the demand for pipe coatings in this region.
The Middle East, particularly countries like Saudi Arabia, UAE, and Qatar, have extensive oil and gas infrastructure, driving demand for pipe coatings to protect against corrosion in harsh environments. Investments in pipeline expansion projects and industrial development further contribute to market growth. Africa's growing population and economic development spur investments in infrastructure projects, including pipelines for oil and gas transportation, water distribution, and utilities. The demand for pipe coatings in Africa is driven by the need for corrosion protection and asset integrity management.
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Restraints
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The competitive landscape of the pipe coating market includes information about the companies involved in it. This information includes company overview, financials, revenue, market potential, investment in R&D, new initiatives, global presence, production sites and facilities, production capacities, strengths and weaknesses, product launch, product range, and application dominance. All of the above-mentioned data points are related only to the companies' focus on the pipe coating market.
Some of the major players in the pipe coating market are PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Valspar Industrial, Axalta Coating Systems, LLC, WASCO ENERGY GROUP OF COMPANIES, Arkema Group, 3M, SHAWCOR, Berry Plastics Cpg, Tenaris, Winn & Coales (Denso) Ltd, Aegion Corporation, Dura-Bond Industries, Eupec Pipecoatings France, L.B. Foster Company, Arabian Pipe Coating Company, Perma-Pipe, Inc, Jotun, and DuPont.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Our extensive research on the global pipeline market reveals that the use of pipe coatings in various industries, combined with the growth of emerging economies, is expected to increase the demand for pipe coatings. The implementation of abrasion-resistant overlays (ARO) is on the rise, which enhances the performance of pipes and prolongs their lifespan, increasing the revenue of the pipe coating market. In Asia-Pacific, the construction sector has been witnessing strong growth in countries such as India, Indonesia, China, Vietnam, and Singapore, leading to a higher demand for construction pipes in the region and in the petroleum industry, pipes are needed for offshore and onshore petroleum production and refineries. With the current market trends, the demand for pipes has been increasing from these industries, which is further expected to drive the demand for the pipe coatings market in the region.
However, the pipe coatings market is likely to face a major challenge due to the high cost of pipe coatings. Additionally, the market has been affected by the fluctuating prices of oil and its byproducts, leading to a surplus of the product in inventories. As a result, the growth of the pipe coatings market is expected to be hindered.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 9.8 billion |
Market size value in 2031 | USD 14.43 billion |
Growth Rate | 4.96% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Pipe Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pipe Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pipe Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pipe Coatings Market for additional countries.
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Report ID: SQMIG15E2533
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