New York, NY, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Pipe Coating Market by Form (Powder and Liquid), by Type (Thermoplastic Coatings, Metal Coatings, Fusion Bonded Epoxy, and Concrete Weight Coatings), by Application (Oil & Gas, Chemical Processing, Industrial, Municipal Water Supply, and Other End-User Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global pipe coating market was valued at USD 7,845 million in 2017 and is expected to reach USD 12,781 million in 2024, growing at a CAGR of 5.4% between 2018 and 2024.
Pipe coating is a feasible and cost-effective solution to sustain pipes' reliability. Pipe coating offers continuous protecting layers that assist to protect a pipe from corrosion prevention methods used by industries today.
Browse through 88 Tables & 37 Figures spread over 110 Pages and in-depth TOC on “Global Pipe Coating Market Size & Share 2017: Industry Type, Demand, Growth Analysis and Forecast, 2024”.
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Pipe coating is generally used for the protective coating of a pipe, which are widely used in various chemical industries and water sewage treatment industries. Pipe coating is more suitable for various end-user industries and it has generated a massive demand in 2017. The increasing end-user demand for pipe coating is anticipated to fuel the market. Robust growth of end-user industries like oil and gas across the globe is expected to be the major driver for the growth of the pipe coating market. Government is supporting as well as promoting the ecological policies. Sufficient raw material accessibility helps in increasing the market demand. The increasing water sewage treatment and the developing potable water infrastructure in the emerging economies are major factors driving the market growth. The fluctuating prices of the raw materials may hamper the growth of the market. The manufacturing companies are focusing on new product launches which anticipate opening new opportunities for the market.
Depending on the form, the global pipe coating market includes powder pipe coating and liquid pipe coating. In terms of value, powder pipe coating type is expected to grow at the highest CAGR in the forecast period. Powder pipe coating is more preferable in multiple applications and thus lead to huge demand in 2017. Thermoplastic coatings are the most widely used type of pipe coatings. Chemical processing end-use industry is anticipated to grow at fastest pace incorporating pipe coatings because of rising demand in the chemical industry. Easy availability of the shale gas is the reason for the pipe coating market growth for the chemical processing end-user industry segment.
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Oil and gas end-user industry segment was the significant division among other end-user industries in 2017. In the global pipe coating market, oil and gas application segment accounted for over 35% share. It is predictable to continue its ascendancy in the forecast period of 2018 to 2024. The cost-effectiveness of pipe has lead to the development of upstream as well as downstream industries. Pipe coatings are used in oil & gas industry. These pipes are used for transporting natural gas, crude oil, water CO2 (injection), and refined product lines to different regions. Pipe coating has an increased demand in the chemical processing industry thus propelling the market growth.
Pipe coating is widely used for waste and wastewater treatment end-user industries. Increasing investments in chemical processing and oil & gas end-user industries are projected to augment demand for the product over the forecast period. The growth of the pipe coating market is directly attributed to growth of oil & gas end-user industry segment. The wastewater treatment, municipal water end-user industry segment holds several opportunities and expected to be the major growth driver for the pipe coating market in the future.
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In 2017, North America dominated the pipe coating market and counted for more than 40% share of the market. Region wise, the U.S. is the largest consumer of the pipe coating. The growth in the region is mainly attributed to the growing demand for natural gas production from the shale formation. Government rules and regulations are expected to encourage the utilization of pipe coating in the region.
In the U.S, demand for oil & gas industry is anticipated to grow significantly over the forecast period and it is one of the major consumers of pipe coatings. Rapid urbanizations have contributed towards the growth of chemical process industry sectors which are anticipated to propel the pipe coating market. Utilization of pipe coating in drinking water pipes, firefighting pipes, and raw water pipes in thermal plants leads to drive the market.
Browse the full "Pipe Coating Market by Form (Powder and Liquid), by Type (Thermoplastic Coatings, Metal Coatings, Fusion Bonded Epoxy, and Concrete Weight Coatings), by Application (Oil & Gas, Chemical Processing, Industrial, Municipal Water Supply, and Other End-User Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/pipe-coating-market
The Middle East and Africa registered the second largest market of pipe coating holding around 23% share of the pipe coating market among the other regions. Rising demand for pipe coating in oil & gas end-user industries is expected to boost the market size in the region over the forthcoming years. Further textile, chemical, paper, and glass industry fuel the demand for the pipe coating product. Pipe coating market is developed and its production is enough to meet regional needs.
The Asia Pacific region is expected to grow in the global pipe coating market in the near future. India, China, and Indonesia are projected to emerge as the fastest growing countries in the global pipe coating market. Moreover, the increasing chemical processing industrial activities, construction and building sectors in China, India, and Indonesia are anticipated to propel the market’s profit margin in the forecast period. The need for high-quality infrastructure in developing countries such as India and China has been driving the market in the recent years. In emerging economies such as India, the raised Foreign Direct Investments (FDI) is anticipated to enhance market growth. Robust urbanization experienced in emerging countries has lead to the boom of the residential as well as commercial real estate market. It has resulted in the widespread pipe infrastructure for wastewaters, sewage, and potable water projects.
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In Europe, particularly the decreasing gas production in the Dutch field, the market in this region is expected to observe comparatively inferior growth over the forecast period. Furthermore, the rising industrial activities in the UK, France, and Germany are anticipated to propel the market’s profit margin. The UK, France, and Germany regions are the matured market for pipe coating suppliers. Moreover, emerging industries such as wastewater management and chemical processing industries in the region are projected to grow the business of pipe coating materials in the region in the near future.
Some of the major players of the global pipe coating market are Dow Chemical Company, BASF SE, Covestro AG, Akzo Nobel N.V., Tenaris SA, Wasco Energy Group of Companies, LyondellBasell Industries Holdings B.V., E.I. Du Pont De Nemours & Co., Arkema S.A., and Celanese Corporation, among others. Major companies in the market adopted acquisitions, mergers and expansions strategy to enlarge their production capacities and share in the pipe coating market in the forecast period.
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This report segments the global pipe coating market as follows:
Global Pipe Coating Market: Form Analysis
- Powder
- Liquid
Global Pipe Coating Market: Type Analysis
- Thermoplastic Coatings
- Metal Coatings
- Fusion Bonded Epoxy
- Concrete Weight Coatings
Global Pipe Coating Market: Application Analysis
- Oil & Gas
- Chemical Processing
- Industrial
- Municipal Water Supply
- Others
Global Pipe Coating Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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