LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• • High demand from oil & gas industry is expected to drive the pipe coatings market
• • The market size for pipe coatings is projected to reach USD 14.42 billion by 2021, at a CAGR of 4.7% from 2016 to 2021
• • The global pipe coatings industry is expected to grow due to the increasing demand in economies such as China, India, South Korea, Africa, Mexico, the U.S., Germany, Brazil, and Argentina, among others.
• • Fusion bonded epoxy, the fastest-growing pipe coatings type.
• • North America, the largest market and South America, the fastest growing market for pipe coatings
• • This is majorly due to the increasing demand for oil & gas in the region.
• • The demand has promoted E&P activities for onshore and offshore reserves, which is facilitating the demand for pipelines and hence driving the pipe coatings market.
High demand from oil & gas industry is expected to drive the pipe coatings market
The market size for pipe coatings is projected to reach USD 14.42 billion by 2021, at a CAGR of 4.7% from 2016 to 2021. Increasing demand from the oil & gas industry is the major driver for the pipe coatings market. The global pipe coatings industry is expected to grow due to the increasing demand in economies such as China, India, South Korea, Africa, Mexico, the U.S., Germany, Brazil, and Argentina, among others. The fluctuating demand from the oil & gas industry is a major concern for the pipe coatings market.
Fusion bonded epoxy, the fastest-growing pipe coatings type
Fusion Bonded Epoxy (FBE) coating is the fastest-growing type of pipe coating. This is due to its high adherence to steel pipes and the fact these are resistant to chemical and physical stress. These coatings are widely used in various industries as they also help to improve the flow efficiency of the contents in the pipes.
North America, the largest market and South America, the fastest growing market for pipe coatings
North America is the largest market for pipe coatings globally, with the U.S. being the leading market in this region, which is attributed to the large oil & gas industry. The increasing demand for shale gas is driving the market in this region. Further, transportation, distribution and Exploration & Production (E&P) activities in the oil & gas industry are expected to drive the market. South America is estimated to be the fastest growing market for pipe coatings during the forecast period, 2016-2021. This is majorly due to the increasing demand for oil & gas in the region. The demand has promoted E&P activities for onshore and offshore reserves, which is facilitating the demand for pipelines and hence driving the pipe coatings market.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into three categories: by company; by designation; and by region.
By Company Type: Tier 1 42%, Tier 2 25%, and Tier 3 33%
By Designation: Sales Executives 33%, Managers 42%, and Researchers & Consultants 25%,
By Region: Asia-Pacific 58%, Middle-East & Africa 8%, Europe 17%, North America 17%
The report also includes company profiles and competitive strategies adopted by the major market players such as PPG Industries, Inc. (U.S.), Akzo Nobel N. V. (The Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems Ltd. (U.S.), Wasco Energy Ltd. (Malaysia), Arkema S.A. (France), Shawcor Ltd. (Canada), The 3M Company (U.S.), and Specialty Polymer Coatings, Inc. (Canada).
This research report categorizes the market for pipe coatings based on type, form, end-use industry, and region. It forecasts revenue growth and includes an analysis of trends in each of the submarkets. These segments are further described in detail with their subsegments in the report with value and volume forecasts till 2021. It also includes company profiles and competitive strategies adopted by the major players in the global pipe coatings market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysesindustry analysis (industry trends), market ranking of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the pipe coatings market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on pipe coating types offered by the top market players
Product Development/Innovation: Detailed insights on emerging technologies, Research & Development (R&D) activities, and new product launches in the pipe coatings market
Market Development: Comprehensive information on lucrative emerging markets the report analyzes the pipe coatings market across regions
Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the pipe coatings market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the pipe coatings market
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