Global steel pipe coating market worth €5 bln

06-Sep-10

The global steel pipe coating market is worth circa €5 billion, reveals the market study released by Applied Market Information Ltd. (AMI). The pipe coating industry was affected by the global economic crisis, but the magnitude, timing and duration of the effects varied broadly from region to region and even among countries in the same region. In Asia, volumes continued to grow during the crisis (driven primarily by sustained activity in China), albeit considerably less than previously expected. In all other regions, the demand dropped, especially in the second half of 2009. In 2010, the Asian growth appears to resume its pace, while in Europe, NAFTA and South America the effects of the crisis still linger. Pipe coating market volume (sq. meters) in 2010 and forecast for 2013. Nevertheless, during the 2010-2013 interval the volumes are expected to grow by nearly 30%. While Asia, South America and the CIS will experience the fastest growth rates, other regional markets (including Europe and NAFTA)are also expected to expand. The report identifies the sustained demand for oil and gas, the geographic changes affecting energy supply and demand, the proportionally higher demand for gas and the increased complexity of coatings as the main growth drivers identified for the next interval.