Pipe coatings are protective coatings applied to the interiors and exteriors of pipelines, in order to prevent corrosion. The pipe coatings market is divided into two segments namely, external and internal coatings. The external corrosion usually occurs in the form of oxide formation due to exposure to air and water, while internal corrosion is the result of chemically active materials present in the pipeline stream reacting with the pipe material.
Pipe coating has been observed to be the most reliable method for corrosion prevention, as it offers increased wear resistance, flow enhancement, and reduced effect of abrasion. Other corrosion prevention methods such as impressed current cathodic protection, sacrificial anode, and inhibitors are not very effective and hence used in conjunction with pipe coatings. The coatings are decided based on parameters such as operating environment (water, air, and soil), operating temperatures and pressures, state and chemical properties of the fluid, viscosity, and flammability.
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The oil & gas industry and chemical processing industry are the largest end-user segments of the pipe coatings market. The cost effectiveness of pipelines has led to the development of both, upstream and downstream industries. Pipelines used in oil & gas industry are both, onshore and offshore. Furthermore, they transport crude oil, natural gas, refined product lines, water and CO2 (injection) to various countries. Instability of the oil prices and concerns regarding the effect on marine and land ecosystems remain major restraints to growth of the market. Moreover, the pipe coatings market in water transportation pipelines is also the key end-use industry in the pipe coatings market. The pipe coatings are largely applied in sewage and potable water pipelines.
Surging demand in Asia-Pacific and North America Augmenting Market Growth
The North American region is a dominant region in the global pipe coatings market. Increased production of oil from the Permian and Delaware Basins has increased the demand for new pipelines and expansion of current ones to the Gulf Coast Refineries. In addition, pipelines construction, being more cost effective than trucking, allows companies to cut losses. Additionally, the pipe coating industry is expected to be positively impacted by to the recently installed, US$ 86 billion worth pipelines in Alaska and British Columbia (Canada), by increasing the demand for pipe coatings for corrosion prevention. The Asia-Pacific region is estimated to be the fastest-growing region in global pipe coatings market, with fastest growing markets in India, China, and Indonesia. The demand for chemical products have boosted the chemical industry. Increased FDI in emerging economies such as India is projected to augment market growth. Rapid urbanization experienced in emerging economies has led to the boom of the real estate market for both residential and commercial purposes, has resulted in the rampant pipeline infrastructure for sewage and potable water. In Europe, the declining gas production in the British and Dutch fields of Europe has increased the demand from Russia, resulting in the spur of pipeline projects. For instance, Nord Stream 2 project from Russia to Germany through the Baltic Sea and the Turkish Stream project from Russia to Europe via Turkey. Latin America has seen the announcement of pipeline projects in Brazil, Argentina, Ecuador, and Mexico. Though environmental concerns persist due to close proximity of many pipelines to ecologically sensitive Amazon forests and coral reefs, which result in outcry from the public and environmental lobby, is the major restraint for growth of the pipe coatings in Latin America.
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Some major players in the pipe coatings market are The Dow Chemical Company, Covestro AG, Celanese Corporation, Bayou Companies, Wasco Energy Group of Companies, Bredero Shaw, and E.I. Du Pont Nemours and Co.
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