As per the assessment conducted by Market Research Future (MRFR), the global pipe coatings market is expected to acquire a market value of more than USD 15,968.4 million by 2023.
The pipe coating market is anticipated to be majorly driven by the growing demand for a higher shelf life of products and increasing initiatives to expedite water & wastewater treatment facilities during the forecast period. The surging demand for sewage treatment is projected to be another salient cause that can underpin the market expansion in the assessment timeframe. In addition, the rapid urbanization in developing countries is expected to offer lucrative opportunities for the pipe coating industry. Also, various benefits of pipe coating such as; decreased cost of energy and prevention of corrosion are other salient causes projected to enhance the demand for pipe coating, thereby augmenting the market.
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Some of the eminent players of the global market for pipe coating are Arkema S.A., AkzoNobel N.V, 3M, Axalta Coating Systems Ltd, The Sherwin-Williams Company, Specialty Polymer Coating Inc, BASF SE, DowDupont Inc, PPG Industries, Inc, LyondellBasell Industries Holdings B.V, Shawcor, Wasco Energy, The Bayou Companies, LLC, and Tenaris
The segmental analysis of the global market for pipe coating is done by surface type, product form, and end-use.
The surface type-based segments of the global market for pipe coating are internal and external.
The product-based segments of the global market for pipe coating are fusion bonded epoxy, metallic coatings, concrete coatings, and thermoplastic polymer coatings. The thermoplastic polymer coatings segment is further sub-segmented into polyethylene (P.E.), polytetrafluoroethylene (PTFE), polypropylene (P.P.), and polyurethane (P.U.).
The form-based segments of the global market for pipe coating are liquid and powder.
The end-use based segments of the global market for pipe coating are water & water treatment, marine, oil & gas industry, chemical processing, and others.
Based on the region, the Pipe Coating Market for pipe coating is segmented into Asia-Pacific, Europe, North America, and Middle East & Africa.
As per the analysis by MRFR, APAC is estimated to expand at a CAGR of 5.13% by 2023. The growing demand for energy in the region is expected to be a critical factor that can propel the market during the forecast period. The increasing expenditure of emerging nations to develop a new pipeline for water and water treatment is anticipated to underpin the market expansion in the assessment period. Besides, the oil & gas sector is predicted to play a salient role in augmenting the regional market. In addition, China and India are likely to thrive at a CAGR of 6% and 5.5%, respectively. The rapid expansion of industries in evolving nations is expected to grow the demand for pipe coating that can significantly boost the market growth.
Europe is anticipated to grow significantly by acquiring a notable market share during the forecast period due to the expansion of the oil & gas industry, which is expected to enhance the demand for pipe coating. The region is likely to expand at a CAGR of 4.10% during the assessment period. The participation of Germany and Russia is expected to provide a thrust to the expansion of the industry in the region.
North America is expected to procure a significant market value with a stable CAGR during the forecast period. The U.S. is anticipated to make the most notable participation to grow the regional market in the coming period.
MEA is likely to acquire a small market share during the forecast period due to the lack of awareness and poor economies.
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