The current pipe coatings market is estimated to be USD 7.5 billion in 2021 and is projected to reach USD 9.4 billion by 2026, at a CAGR of 4.7% during the forecast period. Coatings are mainly used on pipelines to protect them from corrosion. The application of a coating involves huge investment; hence, they are selected based on their efficiency to sustain under harsh conditions and resist chemicals. Moreover, the coatings having a longer life and better protective properties are chosen for the pipelines. Hence, the leading players in the pipe coatings market are mainly focused on developing newer technological advancements in the existing coatings or combinations of new coatings, which are affordable, easy to apply, and able to sustain for a longer time.
The demand for pipe coatings is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of pipe coatings are PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US). These companies, along with other regional companies, cater to the demand for pipe coatings globally.
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Owing to the COVID-19 pandemic, there has been a mixed impact on the Pipe coatings market on the globe. Various industries such as oil and gas, water and wastewater, mining have witnessed significant slump.
Most European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in overall pipe coatings market. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing the supply-demand gap in the supply chain and led to a sharp spike in raw material prices. However, during the pandemic period, the growing demand from the oil and gas support to offset the marginal decline in demand caused due to the slowdown in the manufacturing sector across the globe.
PPG Industries, Inc. has manufacturing and distribution facilities across the world. As of May 2021, the company had 150 production facilities in 47 countries across the globe. PPG’s performance coatings segment has major manufacturing and distribution centers in the Netherlands, the UK, Hungary, Australia, South Korea, the US, Italy, France, Canada, Poland, Denmark, and Mexico. The company offers its products to paint dealers, company-owned stores, home centers, other regional or national consumer retail outlets, independent distributors, and company-owned distribution networks. It also sells its products directly to manufacturing companies and retail customers. Such strong manufacturing and distribution capabilities show its extensive scope and provide it with a substantial competitive advantage.
Akzo Nobel N.V. strategizes to build on the foundation and grow in line with the relevant market segments. Recently, the company has made high investments in R&D and production facilities and now plans to focus on improving its organic growth strategies. It plans to adopt a new, different organizational model and undertake advantageous acquisitions soon. Also, the company’s strategy to reduce operational costs and complexity in its organizational model is advantageous to its market position. The cutting down of management layers has helped the company to reduce costs.
Other companies have initiated the following developments:
Pipe Coatings Market by Surface (Internal and External), type (Fusion Bonded Epoxy, Thermoplastic, Bituminous, Concrete), End-Use Industry (Oil & Gas, Water & Waste Water, Chemical Processing, Mining, and Agriculture), & Region - Global Forecast to 2026
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