Process Pipe Coating Market to Witness Impressive Expansion of USD 21.7 billion by 2029 | Top Spending Regions and Market Price Trends with Developments in Pipe coating Industry to Cushion Growth; Says Exactitude Consultancy
Exactitude Consultancy
Updated 6 min read
“Green reinforcements on pipelines would lead to increased interest from leading manufacturers,” The growth of the Process Pipe Coating market is supported by notable development in the coating industry, prominent infrastructural activities in emerging nations, and rising demand for Pipe coating,
Luton, Bedfordshire, United Kingdom, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Process Pipe Coating market.
The global Process Pipe Coating Market size is projected to surpass around USD 21.7 billion by 2029 from valued at USD 14.5 billion in 2021 and growing at a CAGR of 4.6% from 2022 to 2029.
Pipe coating is a technique which utilizes protective materials to protect a pipe from corrosion and abrasion. The coating used can be single or triple layer depending on the requirement. Pipe coatings are important for protecting a pipe from harmful environmental components such as moisture, ultra violet rays, acid, carbon dioxide, hydrogen disulfide, and so on, as these components can directly interfere with a pipe's performance, reliability, durability, and flow. Internal and external coatings are applied to pipes.
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The report provides market sizing and forecast across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2017 and 2020 are considered historical years, 2021 as the base year, 2022 as the estimated year, and years from 2022 to 2029 are considered the forecast period.
Leading fusion bonded epoxy coating suppliers and finished goods providers such as Northpoint, Dura-Bond Industries, Europipe, and Kelly-Pipe play a significant role in driving overall market growth.
Sherwin-Williams is constantly broadening its base. In April 2022, it acquired major player SIKA AG, allowing it to expand its manufacturing facilities along with gaining unique technology.
In June 2022, AkzoNobel strengthened its African footprint by signing an agreement with Kansai Paints to acquire all its activities in Africa. On 1st April 2020, the company acquired a Mauritius leading paints and coatings company - Mauvilac Industries Limited.
The dominance of the North American region is credited to the rapid growth of the oil and gas industry owing to the easy availability of shale gas.
North America is anticipated to be the dominant region in the global process pipe coatings market owing to the increase in natural gas production from shale formation. Middle East and Africa (MEA), especially Saudi Arabia and Qatar, will closely follow North America and expected to be major markets for process pipe coating because of high production of petroleum and other liquids in the region.
The use of pipe coating in numerous industrial verticals, as well as the growth of developing countries, is likely to boost demand for process pipe coatings.
Coating services are provided at the project site using mobile coating technology, also known as revolutionary portable coating technology. It improves project streamlining, reducing shipping and handling expenses as well as the time it takes to finish the coating. Pipe coatings and linings require this technology for external anti-corrosion, mechanical protection, thermal insulation, and buoyancy control. This technique can lower the cost of repairing transportation and handling issues while also allowing pipeline builders to work more efficiently.
Report Scope:
Report Attribute/Metric
Details
Market Size
USD 21.7 billion by 2029
USD 14.5 billion in 2021
CAGR
4.6% (2022-2029)
Base Year
2021
Forecast Period
2022 to 2029
Historical Data
2017 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type and Applications
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Adoption of Green Coatings can Offer Lucrative Opportunities
Key Market Drivers
Increasing Construction and Infrastructural Facilities to Favor the Market Expansion
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects.
The major players in the market are AkzoNobel, Arkema, 3M, The Sherwin-Williams Company, Axalta Coating Systems, Specialty Polymer Coating, DowDuPont, BASF, PPG, Shawcor, Wasco Energy, LyondellBasell Industries, The Bayou Companies, Tenaris.
Process Pipe Coating Market by Type, 2022-2029, (USD Million)
Coal Tar Enamel Coating
Concrete Coating
Metallic Coating
Thermoplastic Polymer Coating
Fusion Merged Epoxy Ash Coating
Asphalt Coating
Process Pipe Coating Market by Application, 2022-2029, (USD Million)
Residential
Industrial
Commercial
Process Pipe Coating Market by Region, 2022-2029, (USD Million)
North America
Europe
Asia Pacific
South America
Middle East and Africa
Process Pipe Coating Market: Dynamics
Drivers:
Robust growth of end use industries, such as oil and gas, is anticipated to be a prime force triggering the growth of process pipe coating market. Transportation of crucial liquids through pipelines requires proper maintenance of pipes to avoid losses.
overnments around the world are putting strict regulations regarding VOCs, which creates the need for the development of new and eco-friendly products such as water-based coatings, which is anticipated to drive market’s growth. Focus of government across major regions to enhance sewage and potable water infrastructure is also anticipated to supplement market growth over the forecast period.
Restraints:
Increasing raw material cost, which further adds to the cost of manufacturing, may prove to be a major challenge for the global process pipe coating market over the forecast period.
Trends:
Preference for abrasion resistance overlay (ARO) is growing in the process pipe coatings market. ARO is designed to protect FBE (Fusion bonded epoxy) coated pipes during directional applications, such as thrust bore, river crossing and slick bore.
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