Global Pipe Coatings Market - Segmented by Material Type and End-user Industry - Growth, Trends, and Forecast (2018 - 2023)
The global pipe coatings market is expected to witness a moderate CAGR during the forecast period, 2018 to 2023. The oil & gas industry accounted for the highest share, followed by water & wastewater treatment industry, in 2017. The growing infrastructure and rapid industrialization in the developing economies is expected to boost the growth during the forecast period.
Growing Infrastructure and Industrialization in Asia-Pacific
Asia-Pacific provides lucrative market conditions for myriad of chemical processing, paper & pulp, agriculture, automotive, and electrical & electronics industries. Pipeline coatings, particularly, specialty pipeline coatings are forecasted to experience an enormous growth in the aforementioned industries. Proliferate commissioning and expansion of production units, increased strategic acquisitions and partnerships among the major industry players for procuring global presence, due to favorable geographical conditions, and the growing consumer demand, are the main drivers behind the ongoing industrialization in Asia-Pacific. Such trends are likely to increase the consumption demand for both conventional and specialty pipeline coatings.
Asia-Pacific to Dominate Market Growth
Asia-Pacific is being regarded as the global economic powerhouse of the coming decade, due to the growing energy demand, infrastructure needs in construction, and irrigation sectors. In particular, the Asian infrastructure market is forecasted to grow by 7% to 8% annually over the next decade, and is expected to account for almost 60% of the global infrastructure market. Due to the growing population and increasing extent of urbanization, the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has emphasized that the commencement of PPP mode (public-private partnership) of financing will contribute to the sustainable development in Asia-Pacific. Energy demand has forced enhanced recovery and technological advances in new or incremental sources, such as frontier gas, deep water, Liquefied Natural Gas (LNG), tight gas, shale gas, oil sands, and shale oil. Along with oil & gas pipelines, demand for water-related pipelines contribute to the need for advanced coating solutions.
Key Developments in the Market
June 2017: Hempel established a new R&D facility solely focused on passive fire protection (PFP) coatings near Barcelona, Spain. The center is likely to be fully functional by the end of 2018.
May 2017: Jotun developed a unique maintenance coating system that offers protection, durability, and ease of application, while reducing costs in the offshore operations. It is the world’s first NORSOK approved offshore maintenance coating system for brush and roller application, on power-tooled and water-jetted surfaces.
Major Players: Aegion Coating Services, Sherwin Williams, Akzonobel N.V., PPG Industries, Shawcor, Hempel, Dura-Bond, DowDuPont , among others.
Reasons to Purchase this Report
Current and future global pipe coatings market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel).
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