Report into the global pipe coatings market: (2019 - 2024)

The pipe coatings market is expected to grow at a CAGR of around 5.35% during the forecast period of 2019 - 2024.

The major factors driving the growth of the market studied are the upsurge in shale oil and gas production in North America, growing infrastructure and industrialisation in Asia-Pacific, rise in irrigation and agricultural activities in South East Asia, and rising energy demand in Europe.

On the flipside, plunging oil prices due to oversupply, operational challenges in newly discovered energy reserves, and competition from renewable energy substitutes are the restraints hampering the growth of the studied market.

Key highlights

• Oil and gas segment dominated the market in 2018 and is likely to grow during the forecast period, with increasing pipeline infrastructure along with growing oil and gas exploration and production activities.
• The growth in deep-water exploration and production activities and industrial growth in Middle-East and Africa are likely to provide opportunities for the studied market during the forecast period.
• Asia-Pacific dominated the market across the globe, where the demand is driven by the growing demand for application in the irrigation sector, construction, oil and gas, and other industries.

Read the article online at: https://www.worldpipelines.com/special-reports/21062019/report-into-the-global-pipe-coatings-market-2019-2024/