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Pipe Coatings Market worth 14.42 Billion USD by 2021
The report "Pipe Coatings Market by Form (Powder, and Liquid), Type (Thermoplastic Polymer, Fusion Bonded Epoxy, Concrete Coatings), End-Use Industry (Oil & Gas, Water & Wastewater Treatment, Chemical Processing), and Region-Global Forecast to 2021", The global pipe coatings market is projected to reach USD 14.42 Billion by 2021, at a CAGR of 4.7% from 2016 to 2021.
Browse 139 market data tables and 49 figures spread through 183 pages and in-depth TOC on "Pipe Coatings Market by Form (Powder, and Liquid), Type (Thermoplastic Polymer, Fusion Bonded Epoxy, Concrete Coatings), End-Use Industry (Oil & Gas, Water & Wastewater Treatment, Chemical Processing), and Region-Global Forecast to 2021"
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This growth is fueled by the high demand for pipelines in various end-use industries such as oil & gas, water & wastewater treatment, and chemical processing and increasing demand for pipe coatings in the Asia-Pacific, North America, South America, and Middle East & Africa.
Thermoplastic Polymer: The most-widely used type of pipe coatings
Thermoplastic polymer is the largest type of pipe coating used in different end-use industries. The market for thermoplastic polymer coatings is large because these polymers offer various advantages such as resistance to chemicals and physical stress, high flexibility, and easy applicability. Polyethylene (PE) coatings are the largest type of thermoplastic polymer coatings. Other types of thermoplastic polymer coatings are Polypropylene (PP) and Polyurethane (PU) coatings.
Oil & Gas: The largest end-use industry of pipe coatings
Oil & gas is the largest end-use industry of pipe coatings due to the high demand for oil & gas across the world. Pipe coatings are used for protecting pipelines from corrosion and hence pipe coatings are used on a large scale in the oil & gas industry. Further, the market of oil & gas currently is witnessing growth in upstream, midstream and downstream activities, which is driving the market for pipe coatings.
North America: The largest pipe coatings market
North America was the leading region in the pipe coatings market, in terms of value and volume, in 2015. Countries in this region such as the U.S., Canada and Mexico are witnessing significant increase in the use of pipe coatings by different end-use industries. The increased demand for pipelines in end-use industries such as oil & gas, water & wastewater treatment, chemical processing, and others is driving the pipe coatings market. The U.S. is projected to be the fastest-growing market in this region till 2021. This growth is mainly due to increased demand for pipelines and rehabilitation activities in the country.
There are few global players competing for the pipe coatings market share. These companies are actively investing in various strategies such as expansions, new product developments, mergers & acquisitions, and joint venture projects globally to increase their market shares. Major players such as PPG Industries, Inc. (U.S.), Akzo Nobel N. V. (The Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems Ltd. (U.S.), Wasco Energy Ltd. (Malaysia), Arkema S.A. (France), Shawcor Ltd. (Canada), 3M Company (U.S.), and Specialty Polymer Coatings, Inc. (Canada) have adopted various organic and inorganic growth strategies.
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