With the emergence and long-term Impact of COVID-19, the Global Pipe Coatings Market is to reach USD 13.5 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Pipe Coatings Market is poised to raise up to USD 13.5 Billion by 2030. Pipe Coatings is a sensible solution carried out on purpose to preserve the integrity of pipes. This coating assists in maintaining a protective layer that shields pipes from corrosion’s harmful effects. This improves the performance and increases the longevity of the pipelines. Pipe coatings can be applied in a single as well as triple layer. One of the key reasons fueling the growth of the pipe coating industry is the rising need for sewage treatment throughout the globe.
The market is growing faster because to the rising interest in pipe coating, which has a number of benefits including improved flow, decreased abrasion, and higher wear resistance. The market is also influenced by the widespread use of Pipe coating is used in the oil and gas industry to carry heavy oil, crude oil, and petroleum products. Growth in the oil and gas sector is propelling the market. Pipes are necessary in petroleum offshore and onshore production as well as refineries in the oil and gas sector. Upstream, middle, and downstream pipelines are necessary in the petroleum sector. As a result, the need for pipe coatings increases.
According to BP, oil output in 2021 grew by around 1.6% over the previous year and is likely to rise further throughout the projection period. Global oil output is expected to reach 4,221 million tonnes in 2021, up from 4,171 million tonnes in 2020. Additionally, increase in the popularity of mobile coating technology is anticipated to create the lucrative opportunity for the market during forecast period. However, the high content of volatile organic compounds (VOCs) in pipe coatings stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Pipe Coatings Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing growing demand for applications in the irrigation sector, construction, oil and gas, and other industries. Also, growth in the oil & gas and infrastructure industries in the region is anticipated to support the market growth. North America is expected to grow significantly during the forecast period, owing to the rapid expansion of the oil and gas industry, growing focus on asset protection and longevity, infrastructure development, and growing oil and gas production.
The global Pipe Coatings Market is highly competitive owing to the presence of several key manufacturers such as 3M, A.W. Chesterton Co., Aegion Coating Services, Akzo Nobel NV, Al Qahtani Pipe Coating Industries, Allan Edwards Inc., Arabian Pipe Coating Co., BASF SE, and others.
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Global Pipe Coatings Market Size study & Forecast, by Product (Fusion Bonded Epoxy, Metallic Coatings, Concrete Coatings, Thermoplastic Polymer Coatings), By Form (Liquid, Powder) By Surface Type (External, Internal), By End-use (Chemical Processing Marine, Water & Water Treatment, Oil & Gas Industry, Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Pipe Coatings Market is anticipated to grow with a healthy growth rate of more than 4.90% over the forecast period 2023-2030.
- In the Product segment, thermoplastic polymer coatings emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to growing demand for applications in the irrigation sector, construction, oil and gas, and other industries.
- North America is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Fusion Bonded Epoxy
- Metallic Coatings
- Concrete Coatings
- Thermoplastic Polymer Coatings
By Surface type:
By End User:
- Chemical Processing Marine
- Water & Water Treatment
- Oil & Gas Industry
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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