Pipe Coatings Market | Key players operating in the market include PPG Industries, Inc., Akzo Nobel N. V., The Sherwin-Williams Company, ShawCor, Axalta Coating Systems Ltd.

According to recent market research "Pipe Coatings Market by Surface (Internal and External), type (Fusion Bonded Epoxy, Thermoplastic, Bituminous, Concrete), End-Use Industry (Oil & Gas, Water & Waste Water, Chemical Processing, Mining, and Agriculture), & Region - Global Forecast to 2026", The current pipe coatings market is estimated to be USD 7.5 billion in 2021 and is projected to reach USD 9.4 billion by 2026, at a CAGR of 4.7% during the forecast period. Factors such as the consistently growing oil and gas industry, water and wastewater, and agriculture industries have boosted the demand for pipe coatings across application industries. Moreover, the significant growth of the chemical industry in developing countries and the demand for thermal management solutions are driving the pipe coatings market.

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The market for external coatings is projected to be the larger and the faster-growing surface in the pipe coatings market. External corrosion is the major cause of the deterioration of the buried transmission pipelines. The installation of pipelines is costly; hence, external surface coatings play an important role in protecting these pipelines from corrosion and extending their lifespans.

Thermoplastic polymer coatings are the most used type of pipe coatings. Thermoplastic polymer coatings was the largest segment in terms of value in 2020 compared to the other types of pipe coatings. The high demand for thermoplastic polymer coatings is attributed to its excellent properties and a broad spectrum of applications in various end-use industries. Thermoplastic polymer coatings are expected to rise significantly in the pipe coatings market during the forecast period.

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The current pipe coatings market is estimated to be USD 7.5 billion in 2021 and is projected to reach USD 9.4 billion by 2026, at a CAGR of 4.7% during the forecast period. Coatings are mainly used on pipelines to protect them from corrosion. The application of a coating involves huge investment; hence, they are selected based on their efficiency to sustain under harsh conditions and resist chemicals. Moreover, the coatings having a longer life and better protective properties are chosen for the pipelines. Hence, the leading players in the pipe coatings market are mainly focused on developing newer technological advancements in the existing coatings or combinations of new coatings, which are affordable, easy to apply, and able to sustain for a longer time.

The demand for pipe coatings is mainly catered to by global players manufacturing these coatings for various end-use industries. Some of the leading companies involved in the manufacturing of pipe coatings are PPG Industries, Inc. (US), Akzo Nobel N. V. (Netherlands), The Sherwin-Williams Company (US), ShawCor (Canada), and Axalta Coating Systems Ltd. (US). These companies, along with other regional companies, cater to the demand for pipe coatings globally.

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Most European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in overall pipe coatings market. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing the supply-demand gap in the supply chain and led to a sharp spike in raw material prices. However, during the pandemic period, the growing demand from the oil and gas support to offset the marginal decline in demand caused due to the slowdown in the manufacturing sector across the globe.

PPG Industries, Inc. has manufacturing and distribution facilities across the world. As of May 2021, the company had 150 production facilities in 47 countries across the globe. PPG’s performance coatings segment has major manufacturing and distribution centers in the Netherlands, the UK, Hungary, Australia, South Korea, the US, Italy, France, Canada, Poland, Denmark, and Mexico. The company offers its products to paint dealers, company-owned stores, home centers, other regional or national consumer retail outlets, independent distributors, and company-owned distribution networks. It also sells its products directly to manufacturing companies and retail customers. Such strong manufacturing and distribution capabilities show its extensive scope and provide it with a substantial competitive advantage.

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