According to the report “Pipe Coatings Market by Form (Powder, and Liquid), Type (Thermoplastic Polymer, Fusion Bonded Epoxy, Concrete Coatings), End-Use Industry (Oil & Gas, Water & Wastewater Treatment, Chemical Processing), and Region-Global Forecast to 2021,” from MarketsandMarkets™, the global pipe coatings market is projected to reach USD 14.42 Billion by 2021, at a CAGR of 4.7%.
This growth is fueled by the high demand for pipelines in various end-use industries such as oil & gas, water & wastewater treatment, and chemical processing, along with increasing demand for pipe coatings in the Asia-Pacific, North America, South America, and Middle East & Africa.
Other findings include:
Thermoplastic Polymer: The most-widely used type of pipe coatings
Thermoplastic polymer is the largest type of pipe coating used in different end-use industries. The market for thermoplastic polymer coatings is strong because these polymers offer various advantages such as resistance to chemicals and physical stress, high flexibility, and easy applicability. Polyethylene coatings are the largest type of thermoplastic polymer coatings. Other types of thermoplastic polymer coatings are Polypropylene and Polyurethane coatings.
Oil & Gas: The largest end-use industry of pipe coatings
Oil & gas is the largest end-use industry of pipe coatings due to the high demand for oil & gas across the world. Pipe coatings are used for protecting pipelines from corrosion and, therefore, pipe coatings are used on a large scale in the oil & gas industry. Growth in upstream, midstream and downstream activities are also driving the pipe coatings market in the industry.
North America: The largest pipe coatings market
North America was the leading region in the pipe coatings market, in terms of value and volume, in 2015. Countries in this region such as the U.S., Canada and Mexico are witnessing significant increase in the use of pipe coatings by different end-use industries. There is increased demand for pipelines in end-use industries such as oil & gas, water & wastewater treatment, and chemical processing. The U.S. is projected to be the fastest-growing market in this region until 2021. This growth is mainly due to increased demand for pipelines and rehabilitation activities in the country.