The ‘Global Pipe Coating Market 2017 - 2021’ report has been added to Research and Markets' offering.
The global pipe coating market to grow at a CAGR of 4.41% during the period 2017 - 2021.
The report covers the present scenario and the growth prospects of the global pipe coating market for 2017 - 2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is growth in deepwater exploration. The offshore oil and gas pipelines must be heavily coated with concrete to control the pipeline's buoyancy in shallow waters. The ongoing drive for deepwater exploration and production drives the need for thermal insulation pipe coating. These types specialized pipe coatings are thick and heavy, thus increasing the transportation costs of pipes.
According to the report, one driver in the market is shale gas boom in North America. Currently, the shale gas revolution in the US and Canada has led to the high production of oil and natural gas. Technological developments in oil and natural gas production, such as a combination of hydraulic fracturing and horizontal drilling, coupled with low oil and gas prices, have favoured the production of oil and gas in the US and Mexico. The US is also benefitted by the accessibility of domestic energy resources, which reduces the country's dependence on imported energy sources.
Further, the report states that one challenge in the market is stringent government regulations and policies. The stringent regulations imposed by European Commission and federal government agencies are leading manufacturers toward achieving a green environment with minimum or zero harmful emissions.
Read the article online at: https://www.worldpipelines.com/business-news/16082017/global-pipe-coating-market-2017--2021-report/