Pipe Coatings Market 2023 Grow with a High CAGR

 

The pipe coatings market refers to the market for various types of coatings that are applied to pipes to protect them against corrosion, abrasion, and other forms of damage. Pipe coatings are used in a variety of industries including oil and gas, water and wastewater, and chemical processing.

The global pipe coatings market size was valued at USD 9.6 billion in 2020 and is projected to reach USD 13.1 billion by 2026, growing at a CAGR of 5.1% during the forecast period.

There are several types of pipe coatings available in the market, including epoxy, polyethylene, polyurethane, fusion bonded epoxy, and others. Epoxy coatings are the most widely used type of pipe coatings, owing to their excellent adhesion, chemical resistance, and durability. Polyethylene coatings are also gaining popularity due to their high resistance to abrasion and impact.

The oil and gas industry is the largest end-use industry for pipe coatings, accounting for over 60% of the market share in 2020. The growth of this industry is expected to drive the demand for pipe coatings, particularly in emerging economies such as China and India.

Geographically, Asia-Pacific is the largest market for pipe coatings, followed by North America and Europe. The growth of the oil and gas industry in Asia-Pacific is a major driver for the demand for pipe coatings in this region.

The major players in the pipe coatings market include AkzoNobel N.V., Arkema S.A., Axalta Coating Systems Ltd., BASF SE, Covestro AG, Dow Inc., Hempel A/S, Jotun A/S, PPG Industries Inc., and The Sherwin-Williams Company.

In conclusion, the pipe coatings market is expected to continue to grow due to the increasing demand from various end-use industries, particularly in the Asia-Pacific region. The development of new and innovative pipe coatings that offer superior protection against corrosion and abrasion is expected to drive further growth in the market.

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