Global Pipe Coatings Market Size To Grow USD 10.49 Billion by 2032 | CAGR of 4.62%

Global Pipe Coatings Market worth USD 10.49 billion by 2032

According to a research report published by Spherical Insights & Consulting, the Global Pipe Coatings Market Size To Grow from USD 7.23 Billion in 2022 to USD 10.49 Billion by 2032, at a Compound Annual Growth Rate CAGR of 4.62% during the forecast period.

Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on "Global Pipe Coatings Market Size, Share, and COVID-19 Impact, By Product (Liquid, Powder), By Application (Oil And Gas, Marine, Chemical Processing), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/pipe-coatings-market

To protect a pipe's surface from corrosion, abrasion, and other sorts of damage, various substances known as pipe coatings are applied. In industries like infrastructure, water and wastewater treatment, chemical processing, and oil and gas, coatings are commonly used. Common pipe coatings include fusion-bonded epoxy (FBE), polyethylene (PE), polypropylene (PP), polyurethane (PU), and other corrosion-resistant metals. The choice of coating is influenced by the type of pipe, the planned usage, and any special requirements for chemical resistance, temperature tolerance, or corrosion protection. Pipe coatings provide as a barrier between the surface of the pipe and the environment's corrosive elements, such as moisture, chemicals, and soil. They help to prevent corrosion and extend the life of the pipes.

COVID 19 Impact

Lockdowns, travel restrictions, and temporary factory closures all affected the global supply chain. As a result, manufacturing was slowed down and costed more money because there weren't enough raw materials and components to create pipe coatings. A large number of development projects have been delayed or postponed as a result of legislative restrictions and social segregation laws. Pipe coatings were directly impacted by the decline in building activity because pipes are commonly utilised in industrial applications, oil and gas pipelines, and infrastructure projects. The pandemic caused a significant fall in the global demand for oil and gas, primarily as a result of decreased travel, decreased industrial activity, and a slowing economy. The market for pipe coatings used in the transfer of oil and gas was impacted by the decrease in pipeline construction due to the downturn in demand for fossil fuels. The uncertainty surrounding the pandemic caused market instability and a decline in investment in a number of different businesses. It was challenging for suppliers and manufacturers to anticipate and successfully plan in the pipe coatings market because to the demand and price instability.

The demand for corrosion protection in the pipeline industry, rising infrastructure construction, expanding oil and gas exploration, and more all have an effect on the growth of the pipe coatings market. The market for pipe coatings has grown as a result of more oil and gas exploration and production activities. Due to the demand for energy resources, pipelines are needed to transport oil and gas over long distances, both onshore and offshore. Corrosion, which can lead to leaks, environmental harm, and high maintenance costs, must be stopped by pipe coatings. Other than the oil and gas sector, pipe coatings are used in the water and wastewater, chemical, and infrastructure sectors. The robustness and lifespan of the pipelines are improved by the coatings' ability to withstand corrosion, abrasion, and insulation. As a result of ongoing infrastructure construction projects, particularly in developing countries, the market for pipe coatings is anticipated to keep expanding. Rapid urbanisation, population growth, and investments in water and wastewater management systems will be the main drivers of the need for pipelines and, consequently, pipe coatings.

The creation of pipe coatings typically involves the use of resins, pigments, and additives. Changes in the price of these raw materials can have a significant impact on the entire production costs and profitability of pipe coating operations. Additionally, the pipe coatings industry is closely tied to the building of infrastructure, such as water and gas pipelines, industrial buildings, and water distribution systems. Deteriorating economic conditions or delays in infrastructure projects may have an impact on the market for pipe coatings. Market participants must carefully monitor infrastructure development trends and adjust their strategies as necessary. Environmental sustainability and the use of eco-friendly coatings are becoming more and more crucial. 

Product Insights

Powder segment is dominating the market with the largest market share over the forecast period

On the basis of product, the global pipe coatings market is segmented into powder and liquid. Among these, the powder segment is dominating the market with the largest market share over the forecast period. Powder pipe coatings are a less expensive alternative to traditional coating methods. The powder coating technology minimises material waste due to its high transfer rates and efficiency. The ability to recycle extra powder further increases cost savings. Powder pipe coatings are more widely used now than ever before because of their superior corrosion resistance, low cost, favourable environmental effects, versatility, and regulatory compliance. As long as industries continue to prioritise performance, efficiency, and sustainability, the market for powder pipe coatings is expected to grow.

Application Insights

Oil and gas segment accounted for the largest market share over the forecast period

Based on the application, the global pipe coatings market is segmented into Oil and Gas, Marine, Chemical Processing, Water and Wastewater Treatment, and Others. Among these, the oil and gas segment accounted the largest market share over the forecast period. Pipe coatings are crucial to the oil and gas sector because they protect pipelines from corrosion, abrasion, and other sorts of damage. These coatings are applied to both onshore and offshore pipelines in order to maintain the integrity and durability of the pipes. Some pipe coatings are specifically designed to increase the flow of the fluids being conveyed. These coatings have a smooth surface that decreases frictional resistance, lowers pressure drop, and improves flow rates while using less energy as a result.

Regional Insights

Asia Pacific region is dominating the market growth over the forecast period

Asia Pacific is dominating the market with the highest market growth over the forecast period. The key factors influencing the demand for pipe coatings in this region are the rapid industrialization, urbanisation, and infrastructure development taking place in countries like China, India, Japan, South Korea, and Southeast Asian countries. The Asia Pacific region consumes a lot of oil and gas, with China and India dominating this market. By avoiding pipeline corrosion caused by abrasive working conditions and corrosive materials, pipe coatings play a crucial role in the oil and gas industry in ensuring the safe and efficient transfer of oil and gas products.

North America, on the other hand, is witnessing the fastest market growth over the forecast period. The oil and gas sector dominates the pipe coatings market in North America. Since there are many shale gas reserves in the area, the need for coated pipelines to ensure the safe transport of hydrocarbons has significantly increased as a result of exploration and production activities. The corrosion resistance, insulation, and other benefits of coatings boost the structural durability and longevity of oil and gas pipelines.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Pipe Coatings Market based on the below-mentioned segments:

Pipe Coatings Market, Product Analysis

• Powder
• Liquid

Pipe Coatings Market, Application Analysis

• Oil and Gas
• Marine
• Chemical Processing
• Water and Wastewater Treatment
• Others

Pipe Coatings Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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