"The increasing demand from industrial and chemical processing end-use industries and high economic growth in the Asia-Pacific countries is driving the pipe coatings market"
The market size for pipe coatings is projected to reach US$11.63 billion by 2020, registering a CAGR of 4.5% between 2015 and 2020. Increasing demand from end-use industries such as industrial and chemical processing is the major driver for the pipe coatings market. Further, growing sewage industry in developing countries is expected to drive the pipe coatings market.
"Industrial and chemical processing are the fastest-growing end-use industries of pipe coatings"
Industrial and chemical processing are the largest end-use industries of pipe coatings. As pipe coatings are characterised by flexibility, toughness, and high abrasion resistance, they protect the pipes from corrosion and increase their durability. Industrial segment is another fastest-growing end-use industry of pipe coatings for civil infrastructure, energy, sewage and mining industries, globally.
"North America is the largest market for pipe coatings"
North America is the largest market for pipe coatings due to the presence of numerous key companies in the region and growth in demand due to increase in pipeline construction activities in the region. Abundance of shale oil and gas reserves in the country, upsurge in production from shale operations, and deepwater E&P in the Gulf of Mexico are some of the major factors influencing the pipe coatings demand in the region. The superior mechanical and anti-corrosion properties, low conductivity, and longer shelf-life have increased the demand of pipe coatings for general purpose as well as in specialty end-use industries.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided in three categories:
- By company type – Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%.
- By Designation – C-levels: 30%, Researchers: 40%, and Presidents: 30%.
- By Region – North America: 45%, Europe: 22%, Asia-Pacific: 17%, and ROW: 16%.
The report also includes company profiles and competitive strategies adopted by the major market players such as The Dow Chemical Company (US), AkzoNobel N.V. (the Netherlands), BASF SE (Germany), Celanese Corporation (US), and others.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/12072016/pipe-coating-market-global-forecasts-to-2020/