The global market for Pipe Coatings is projected to reach US$11.63 bln by 2020

The global market for Pipe Coatings is projected to reach US$11.63 bln by 2020, registering a CAGR of 4.5% between 2015 and 2020, as per MarketsandMarkets. This growth is fueled by the high potential from the industrial end-use industry, increasing shale gas development in North America, and increasing infrastructure development activities in the Asia-Pacific region. Thermoplastics such as PVC, PP, PE, and others are widely used in different applications of pipe coatings. These pipes are lightweight and cheaper than polyester, epoxy, and vinyl-ester-based pipes. They are predominantly used in sewage, irrigation, construction, mining, and chemical processing applications due to their excellent chemical resistance capacity. Thermoplastic coated pipes are environmentally friendly as compared to other pipes and can be recycled for reuse. Polyethylene thermoplastic coating provides excellent corrosion protection. Pipe coatings are widely used in the oil & gas industry for smooth transportation of hydrocarbons from one place to another and also from country to country for the end-use consumption. Pipe coatings help to increase the shelf-life of the piping system and reduce replacement cost. Owing to their impressive resistance to corrosion, abrasion, and excellent mechanical properties, pipe coatings are the popular material preferred in the oil & gas end-use industry. Thermoplastic coatings are the most appropriate and adaptable pipe coatings in the oil & gas end-use industry. Oil & gas is the leading end-use industry performing significantly in the Pipe Coatings Market with growth in developing unconventional reserves and exploration & production activities. North America is the largest market for pipe coatings due to the presence of numerous key companies in the region. In North America, the demand for pipe coatings has grown due to increase in pipeline construction activities in the region. Abundance of shale oil & gas reserves in the country, upsurge in production from shale operations, and deep-water E&P in the Gulf of Mexico are also some of the major factors contributing to the demand of pipe coatings. The pipe coatings market has a few numbers of global players competing for the market share, who are actively investing in various strategies such as new product developments and joint venture & collaboration projects globally to increase their market reach. Also, companies are investing on R&D activities. Major players such as Arkema S.A. (France), LyondellBasell Industries Holdings B.V. (Netherlands), AkzoNobel N.V. (Netherlands), and BASF SE (Germany) among others have adopted various organic and inorganic developmental strategies.