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Pipe Coatings Market Global Growth 2019, Strategic Trends Analysis, Sales Revenue, Demand Overview and Future Potential of Industry 2023
Feb 25, 2019 (MarketersMedia via COMTEX) —
Global Pipe Coating Market by Product Type, by Surface Type, by End use, by Region and Forecast to 2023
Pipe Coatings are materials that provide pipes with a protective layer against chemical reaction & corrosion in order to increase the working life of pipelines used across industries. Furthermore, these coatings offer a range of advantages such as providing excellent resistance to intense heat, acids and alkalis, and high voltage electricity with strong adhesion and bendability. Owing to these properties, pipe coatings are extensively applied in the pipelines that carry crude oil and hazardous chemicals to various regions.
Simultaneously, these coatings also find their applications in the pipelines used to collect and transport turbid and polluted water from different sources to water treatment plants; where the water is made safe for drinking and other purposes. The augmented demand from some of the burgeoning industries like O&G, water treatment & chemicals has been escalating the market on the global platform.
Acknowledging the exponential traction, the market is enjoying currently, Market Research Future (MRFR) in its recently published study report asserts that the Global Pipe Coating Market will reach over USD 15,968.4 MN by 2023 registering a phenomenal CAGR throughout the forecast period (2017 – 2023).
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In addition, other factors contributing to the market growth include, rapidly expanding industrialization, chemical industries coupled with the augmenting demand for underwater transportation pipeline of crude oil fueled by the increasing environmental concerns erected due to the oil spills and gas leakages through the damaged pipes.
Currently, this industry is confronting some major challenges of developing a Pipe Coating suitable for construction projects in unstable environments while making it compatible with the newly developed steel pipe technology.
Secondly, pipelines operating in the extreme weather conditions impose threats of VOC (volatile organic compounds) emission in the environment, while, carrying explosive materials. Against which various government bodies have legislated strict regulations restricting the use of toxic chemicals used in the production of Pipe Coatings. This, in turn, has augmented the demand for innovative bio-based coatings with similar properties & increased service life.
This demand from the end user industries has prompted the manufacturers to develop environmentally sustainable Pipe Coating which offers similar coating properties compared to established systems. However, this increases the manufacturing costs increasing the product's overall cost. On the other hand, customers are increasingly demanding for cost reduction of Pipe Coatings.
Global Pipe Coating Market – Segmentation
For enhanced understanding, the report has been segmented into five key dynamics.
By Product Type: Thermoplastic Polymer Coatings, Fusion Bonded Epoxy, Metallic Coatings, and Concrete Coatings among others.
By Surface Type: Internal and External.
By Form: Liquid and Powder.
By End-Use: Oil and Gas, Marine, Chemical Processing, and Water & Waste Water Treatment, among others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Global Pipe Coating Market – Regional Analysis
The North America Pipe Coating Market, heading with the rapid industrialization and the augmented demand from some of the burgeoning end-user industries such as water treatment and O&G, accounts for the largest market share, globally.
While, the MEA (the Middle East & Africa) region is expected grow phenomenally owing to the augmented demand from the burgeoning oil & gas industry of Iraq, the UAE, Saudi Arabia, Iran, & Kuwait.
The European market of Pipe Coating is predicted to upsurge owing to the increased expenditure in innovation and growing purchasing power of consumers primarily in the countries like Germany, Italy, Spain, France, Russia, and the UK. Furthermore, the presence of major chemical manufacturers in Germany will boost regional market growth.
The pipe coating market in the Asia Pacific region is emerging as a profitable market, globally, led by the increasing processing units of crude oil and petroleum refineries mainly in India and China
Global Pipe Coating Market – Competitive Landscape
The highly competitive, pipe coating market appears to be fragmented owing to the presence of numerous well-established players. Due to the low product differentiation and the availability of a wide range of similar products in the market, manufacturers try to minimize brand recall through effective marketing communications. The pipe coating market demonstrates a high growth potential due to which several new entrants are expected to get attracted to this market during the anticipated period.
Key players leading the Global Pipe Coatings Market include PPG Industries, Inc. (US), The Sherwin-Williams Company (US), The Valspar Corporation (US), Akzo Nobel N.V. (the Netherlands), Axalta Coating Systems Ltd. (US), 3M (US), Wasco Energy Ltd. (Malaysia), SHAWCOR (Canada), Arkema S.A. (France), and Specialty Polymer Coatings, Inc. (Canada) among others.
For More Information on this Pipe Coatings Industry – Global Market Report @ https://www.marketresearchfuture.com/reports/pipe-coatings-market-4981
Industry/ Innovation/Related News:
February 13, 2019 — Shanghai Metal Corporation (China), a reputed seamless steel pipe manufacturer announced the availability of with different types of surface coatings, such as anti-corrosion oil, varnish painting, galvanized and others at the most reasonable prices for customers around the globe. The company also mentioned that it is capable of addressing all custom demands and manufacturing galvanized steel pipes according to their precise requirements.
February 12, 2019 — The Vortex Companies (the US), a leading trenchless rehabilitation industry solutions provider announced the completion of the acquisition of The Ted Berry Company (the UK), a trenchless rehabilitation solutions provider. The Ted Berry Company has developed an excellent reputation in the market by providing exceptional service leveraged by its team's depth of experience within the trenchless infrastructure rehabilitation market.
The Vortex Services division provides lining and coating solutions, pipe bursting, CCTV and inspection. With this acquisition, Vortex will be able to deliver the combination of added services and Ted Berry's experience that further fortifies Vortex's position in the industry.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Source URL: https://marketersmedia.com/pipe-coatings-market-global-growth-2019-strategic-trends-analysis-sales-revenue-demand-overview-and-future-potential-of-industry-2023/485649
Release ID: 485649
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