DUBLIN--(BUSINESS WIRE)--The "The Global Pipe Coatings Market: Growth, Trends, and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The pipe coatings market is expected to grow at a CAGR of around 5.35% during the forecast period of 2019-2024.
The major factors driving the growth of the market studied are the upsurge in shale oil & gas production in North America, growing infrastructure & industrialization in Asia-Pacific, rise in irrigation and agricultural activities in South East Asia, and rising energy demand in Europe.
On the flipside, plunging oil prices due to oversupply, operational challenges in newly discovered energy reserves, and competition from renewable energy substitutes are the restraints hampering the growth of the studied market.
- Oil & gas segment dominated the market in 2018 and is likely to grow during the forecast period, with increasing pipeline infrastructure along with growing oil and gas exploration & production activities.
- The growth in deep-water exploration & production activities and industrial growth in Middle-East & Africa are likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe, where the demand is driven by the growing demand for application in the irrigation sector, construction, oil & gas, and other industries.
Major Market Trends
Oil & Gas Segment to Dominate Market Demand
- In the oil & gas industry, pipes are required in petroleum offshore & onshore production and refineries.
- In the petroleum industry, pipes are required in upstream, midstream, and downstream. Hence, it generates higher demand for pipe coatings.
- In the oil & gas industry, epoxy pipe coating is used extensively, due to the resistance it offers from high temperatures, chemicals, and corrosion.
- Without pipeline corrosion protection, damages occur, which lead to equipment failure and lost production time. Tubing, pipes, fasteners, and equipment are subjected to the punishing effects of chemicals, water, and sea salt spray.
- Industry-standard hot-dip galvanized, cadmium, and zinc-plated coatings lack durability and deteriorate in tough offshore environments. However, metal coatings proprietary gas pipe coating products minimize the effects of corrosion & abrasion and improve the longevity of costly equipment.
- With recovery prices in oil & gas industry, the exploration & production has started increasing across the globe. The major increase in oil & gas offshore exploration & production activities is noticed in North Sea, North America, and Middle Eastern regions. With this, the pipeline projects are also increasing to supply oil & gas output from fields to the refineries.
Asia-Pacific to Dominate the Global Market
- Asia-Pacific region dominated the global market share in 2018. The demand for market studied is driven by the growing demand for pipeline infrastructure from oil & gas, chemical, mining, water & wastewater, agriculture, and construction industries.
- In Asia-Pacific, the construction sector has been witnessing strong growth in countries, such as India, Indonesia, China, Vietnam, and Singapore, owing to which the demand for construction pipes have been increasing in the region.
- The oil & gas exploration and production activities rebounded since 2018. About 50 oil & gas fields with collective resources of 4 billion barrel of oil equivalent are expected to be approved for development between the period of 2018-2020.
- Besides, gas projects are likely to be developed in Indonesia and Malaysia, which is expected to increase pipeline projects in these countries. Malaysia accounted for largest percentage of overall gas resources to be developed.
- In addition, water treatment facilities have also been increasing in the region due to the growing environment regulations, increasing shortage of fresh water supply, and growing water demand for industrial use.
- With all such trends in the market, the demand for pipes have been increasing from such industries, which is further expected to drive the demand for pipe coatings market in the region.
The pipe coatings market is a consolidated market, where few players account for significant share of the market demand. Some of the noticeable players in the market include PPG Industries, 3M, BASF, The Sherwin Williams Company, and AkzoNobel, amongst others.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Upsurge in Shale Oil & Gas Production in North America
4.1.2 Growing Infrastructure & Industrialization in the Asia-Pacific Region
4.1.3 Rise in Irrigation & Agricultural Activities in Southeast Asia
4.1.4 Rising Energy Demand in Europe
4.2.1 Operational Challenges in Newly Discovered Energy Reserves
4.2.2 Competition from Renewable Energy Substitutes
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 Material Type
5.1.2 Epoxy Layered
5.1.3 Coal Tar Enamel
5.1.4 Asphalt Enamel
5.1.6 Other Material Types
5.2 End-User Industry
5.2.1 Oil & Gas
5.2.2 Water & Wastewater Treatment
5.2.5 Chemical Processing & Transport
5.2.7 Other End-user Industries
5.3.2 North America
5.3.4 South America
5.3.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 A.W. Chesterton Co.
6.4.3 Aegion Coating Services (also operates through subsidiary Bayou Coating)
6.4.4 AkzoNobel N.V.
6.4.5 Al Qahtani Pipe Coating Industries
6.4.6 Allan Edwards Inc.
6.4.7 Arabian Pipe Coating Co. (APCO)
6.4.8 BASF SE
6.4.9 Bauhuis B.V.
6.4.10 Borusan Mannesmann
6.4.11 Bredero Shaw Ltd.
6.4.12 BSR Coatings
6.4.13 Celanese Corporation
6.4.14 Corinth Pipeworks (Cenergy Holdings S.A.)
6.4.16 Dura-Bond (DBB Acquisition LLC)
6.4.17 Mutares AG
6.4.18 GBA Products Co. Ltd.
6.4.19 Hempel Coatings
6.4.21 Lyondellbasell Industries Holdings B.V.
6.4.22 Perma-Pipe Inc.
6.4.23 PPG Industries Inc.
6.4.24 Shaic International Co.
6.4.25 Shawcor Ltd.
6.4.26 Sherwin-Williams (Valspar)
6.4.27 Tenaris S.A.
6.4.28 Wasco Energy Group of Companies
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Industrial Growth in the Middle East & Africa
7.2 Growth in Deepwater Exploration & Production Activities
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