Pipe Coatings Market Worth $ 9.4 Billion By 2026 – MarketsandMarkets ™ Exclusive Report
CHICAGO, July 20, 2021 / PRNewswire / – According to New Market Research Report “Pipe Coatings Market by surface (internal and external), type (fusion bonded epoxy, thermoplastic, bituminous, concrete), end-use industry (oil and gas, water and wastewater, chemical processing, mining and agriculture) and region – Global Forecast for 2026 “, published by MarketsandMarkets ™, the market for pipe coatings is estimated at $ 7.5 billion in 2021 and should reach $ 9.4 billion by 2026, at a CAGR of 4.7% over the forecast period.
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Factors such as the constantly growing oil and gas industry, water and wastewater industries, and agriculture have driven the demand for pipe coatings in application industries. In addition, the significant growth of the chemical industry in developing countries and the demand for thermal management solutions are driving the pipe coating market.
External Coating is Estimated to Dominate the Pipe Coating Market in 2020
The external coatings market is expected to be the largest and fastest area in the pipe coatings market. External corrosion is the major cause of deterioration of buried transport pipelines. The installation of pipelines is expensive; therefore, external surface coatings play an important role in protecting these pipelines against corrosion and in extending their service life.
Thermoplastic polymer coatings are believed to be the main types of pipe coatings
Thermoplastic polymer coatings are the most widely used type of pipe coating. Thermoplastic polymer coatings were the largest segment in terms of value in 2020 compared to other types of pipe coatings. The high demand for thermoplastic polymer coatings is attributed to its excellent properties and a wide range of applications in various end use industries. Thermoplastic polymer coatings are expected to increase significantly in the pipe coatings market during the forecast period.
Oil and gas is the largest end-use industry for pipe coatings.
Oil and gas is the largest end-use industry for pipe coatings. The rapid growth of the oil and gas segment is driving the pipe coating market globally. In addition, properties including superior corrosion resistance, abrasion resistance and protection against chemical attack are expected to drive demand for these coatings. The significant development of the pipe coatings market in all regions can be attributed to the increased use of pipe coatings in municipal water supply, oil and gas, industrial processing, chemical, among other industries of end use.
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North America is expected to account for the largest share of the pipe coatings market during the forecast period
North America accounted for the largest market share followed by APAC and Europe. The growth of ICCA can be attributed to the rapid increase in demand for
end-use industries, in particular water and wastewater treatment and oil and gas. In addition, the demand for pipe coatings is mainly driven by the increasing demand for oil and gas, among other end-use industries. The Alaska LNG Project is a liquefied natural gas export facility near Nikiski, Alaska. It is considered to be one of the largest natural gas development projects in the world. The project, which should cost between 45 USD billion and 65 USD billion dollars, will involve the construction of an LNG plant, storage facility and shipping port, as well as a 1,287 kilometer pipeline from the North Slope to the LNG facility and a gas processing plant. In this way, the development of the demand for chemical processing and oil and gas, as well as the increasing use of pipe coatings in the construction, energy and wastewater industries, are the key factors. which are expected to drive the demand for pipe coatings during the forecast period. Pipe coatings is mainly supported by the global players manufacturing these coatings for various end use industries. Some of the major companies involved in the manufacture of pipe liners are PPG Industries, Inc. (USA), Akzo Nobel NV (Netherlands), The Sherwin-Williams Company (United States), ShawCor (Canada) and Axalta Coating Systems Ltd. (United States). These companies, along with other regional companies, meet the global demand for pipe coatings.
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