Pipe Coating Market Will Worth USD 10.02 Billion By 2030 : Greyviews

(MENAFN- GlobeNewsWire - Nasdaq)

Pune India, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the pipe coating market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the pipe coating market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as material type, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global pipe coating market are Arkema S.A., Dura-Bond Industries, Tenaris, Wah Seong Corporation Berhad, The 3M Company, Winn & Coales Ltd, Shawcor Ltd., PPG Industries, Wasco Energy Group of Companies, BASF SE, L.B. Foster Company, Aegion Corporation, Eupec Pipecoatings Company Ltd., Berry Plastics CPG among others. To achieve a substantial market share in the worldwide pipe coating market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A pipe coating protects the metal surface of the pipe from corrosion, wear, and other damage. As end-user industries such as the oil and gas industry continue to grow, process pipe coating demand is on the rise, driving the market for process pipe coating. The pipes by which the fluids are carried should be maintained in order to prevent leaks. In an effort to expand the process pipe coating industry, which will increase the need for advanced and environmentally friendly goods such as water-based coatings. Producers face an uncertain cost environment when it comes to raw materials for pipe coating. There is one primary threat facing the industry of process pipe coating: the rising cost of raw materials, which raises production costs, adversely affecting market growth. Raw material prices are expected to increase throughout the projected period, which will increase the cost of production. This may pose a major challenge for the process pipe coating industry as a whole. Moreover, as new products and treatment procedures are introduced to the global pipe coatings market, the competition between the market's players is growing. For the global pipe coatings market to continue to sustain its competitive environment, players are utilizing innovative creativities such as strategic mergers and acquisitions and increased research and development expenditures for the introduction of new products.

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Scope of Pipe Coating Market Report:

Report Metric	Information
Study Period	2022-2030
Base Year	2022
Forecast Period	2023-2030
Market Share Unit	USD Billion
Segments Covered	Material Type, End-User, and Regions.
Regions Covered	North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players	Arkema S.A., Dura-Bond Industries, Tenaris, Wah Seong Corporation Berhad, The 3M Company, Winn & Coales Ltd, Shawcor Ltd., PPG Industries, Wasco Energy Group of Companies, BASF SE, L.B. Foster Company, Aegion Corporation, Eupec Pipecoatings Company Ltd., Berry Plastics CPG among others

Segmentation Analysis

Thermoplastic is expected to be the fastest-growing segment in 2022.

The material type segment includes thermoplastic and thermoset. The thermoplastic segment is expected to witness the highest growth rate during the forecast period. Among the most commonly used types of pipe coating, thermoplastic polymer coatings are PE, PP, and PU, all of which are commonly used in polyolefin coatings. 3LPE coatings are now being preferred on a large scale as they have the added advantage of thermoplastic polymer coatings and epoxy fusion bonded coatings. They are primarily used for oil and gas applications.

Oil & gas is expected to be the fastest-growing segment in 2022.

The end-user segment includes chemical processing, oil & gas, mining, infrastructure, and others. The oil & gas segment is expected to witness the highest growth rate during the forecast period. Oil and gas hold the largest share in the market because of its rapid growth, which in turn drives demand for pipe coatings. As well, these coatings are expected to be more in demand due to their excellent corrosion and wear resistance properties, as well as their ability to resist chemical attacks.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the pipe coating market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The Asia Pacific region witnessed a major share. A large share of the market is held by the Asia-Pacific region due to the increasing demand for end-use industries, such as water and wastewater treatment, pipeline coatings for oil and gas, and pipeline coatings for oil and gas pipelines. A growing environmental regulation system, an increasing demand for water, and a shortage of fresh water supply have also contributed to the development of more water treatment facilities in the region.

Country Analysis

• Germany

Germany's pipe coating market size was valued at USD 0.51 billion in 2022 and is expected to reach USD 0.73 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.
A major end user of pipe coatings in the country is the oil and gas industry. This industry relies heavily on heat-resistant coatings due to the high temperatures in which the company operates. In the oil and gas industry, these coatings are used for tanks, valves, and others to prevent corrosion when exposed to moist and damp conditions.

• China

China's pipe coating market size was valued at USD 0.67 billion in 2022 and is expected to reach USD 0.98 billion by 2030, at a CAGR of 4.9% from 2023 to 2030.
A nonprofit organization dedicated to children's health, Nemours, reports that most Chinese mothers stop breastfeeding their newborn children too soon. This increases demand for breast pumps in China.

• India

India's pipe coating market size was valued at USD 0.52 billion in 2022 and is expected to reach USD 0.75 billion by 2030, at a CAGR of 4.8% from 2023 to 2030.
As a result of high birth rates, rising disposable income, and a growing working women population, the market is expected to grow during the projection period. Moreover, the Indian breast pump market is attractive to top breast pump manufacturers because of the tremendous population pool.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising demand for pipe coatings in various end-user industries.

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