Pipe Coatings Market: Global Opportunity Analysis and Industry Forecast 2023-2030 Market

Pipe Coatings Market Analysis

Pipe coating is applied on the surface of the pipe to save it from corrosion, abrasion, and reaction with water and other reactive substances. This improves the performance and increases the longevity of the pipelines. Pipe coatings can be applied in a single as well as triple layer. Selecting the apt pipe coating depends on a couple of aspects such as required properties, expected performance output, environmental concerns, and regulatory norms of the particular region. Therefore, these aspects are required to be followed while selecting a proper pipe coating.               

COVID-19 impact:

• The world is facing a pandemic situation due to the sudden outbreak and widespread of the novel coronavirus. 
• Lockdown has been enforced by several governments in response to the current situation. As a result, various industries have witnessed signs of negative growth. 
• The construction industry has witnessed negative growth as it was totally non-operational. Logistics and supply chains have been disrupted. This had led to significant reduction in the pipe coatings market. However, post lockdown, the market is expected to pick up pace at a sluggish rate. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis:

The increase in demand for pipe coatings is attributed to the development of the pipeline industry and increase in technological advances in the pipe coatings market. The oil & gas and chemical industries are the major consumers of pipe coatings. There is a specific demand for safe transfer of oil, gas, and chemicals, which escalates the demand for pipelines and pipe coatings. Pipelines are extensively used in constructions and infrastructural facilities. The development of construction and infrastructural facilities, especially in developing countries, such as India and China, is another factor that drives the growth of the pipe coatings market. Additionally, the application of pipe coatings in various industry verticals and the rise of developing countries are expected to positively impact the demand for pipe coatings. The increase in demand witnessed in the development of shale gas is another factor that is expected to drive the growth of the pipe coatings market. A key trend observed is the increase in usage of abrasion-resistant overlays (ARO). ARO is a kind of coating, which is specially designed to resist and withstand the toughest of abrasions and surface damages. The implementation of AROs ensures better performance of the pipes and also increases their longevity. This is another driver which affects the pipe coatings market in a positive manner. 

However, the high cost of pipe coatings is expected to have significant impact on the growth of the pipe coatings market. Recently, the dynamic prices of oil and its derivatives have impacted the market as there is a surplus of the product in inventories. This is expected to hinder the growth of the pipe coatings market.

Regional analysis:

On the basis of region, North America has been the market leader in terms of value as well as volume. Countries in this region are growing substantially, owing to easy access & abundance of shale gas and newly discovered reserves of oil. The market growth in North America is also attributed to various manufacturing facilities present in the region. This leads to the requirement of construction, which leads to the growth of the market share of pipe coatings. In addition, the chemicals industry is also expected to witness a rise as raw materials are available in abundance in this region. Following North America, the Middle East & African countries have large production facilities for petroleum and other liquids. Developing countries, such as India and China, are expected to grow, owing to increase in investment in construction activities.

Key benefits of the report:

• This study presents the analytical depiction of the pipe coatings market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the pipe coatings market share.
• The current market is quantitatively analyzed to highlight the pipe coatings market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the pipe coatings market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Pipe Coatings Market: Global Opportunity Analysis and Industry Forecast 2020-2027 Report Highlights