The Pipe Coating Market is being driven by Innovation of mobile coating technologies
The Pipe Coating Market is expected to grow at a CAGR of 5.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.22 billion. The pipe coating market is experiencing significant growth due to the increasing adoption of eco-friendly and high-performance coating technologies. These technologies, including waterborne and high solids, account for approximately 75% of the global coating market. The use of high-performance bio-based polymers in pipe coatings contributes to a decrease in carbon footprint through the elimination of toxic raw materials and reduction in coating solvent content. Additionally, the implementation of coated carbon steel instead of stainless steel in piping systems can result in a 30% reduction in total carbon dioxide emissions. Furthermore, pipe coatings offer environmental benefits such as improved asset lifetime through resistance to photo-oxidation and corrosion, increased application efficiency, and coating-enabled energy savings from lightweight substrates, heat dissipation, drag reduction, and heat reflection. These factors are expected to drive the demand for pipe coatings in various industries.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Thermoplastic coatings, Metal coatings, Fusion-bonded epoxy coatings, Concrete weight coatings, Others) Application (Oil and gas, Industrial and chemical processing, Municipal water supply, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Pipe Coating Market Research Report
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The Pipe Coating Market encompasses a range of products including 3LPE coatings, abrasion-resistant overlays (ARO), sustainable coatings, corrosion inhibitors, and eco-friendly coatings. These coatings are essential for pipeline design and construction, providing durability against corrosion, erosion, and external factors. Coating adhesion and performance are critical factors, with solutions like tungsten, cathodic protection, and sacrificial anodes used for corrosion mitigation. Water and wastewater treatment plants benefit from these protective coatings, which can be applied via liquid or powder methods. Coating inspection and application techniques, such as high-velocity oxy fuel, ensure optimal coating thickness and system performance for pipeline integrity management. Industrial coatings, including anti-corrosion, erosion resistant, and marine varieties, are applied internally and externally for infrastructure protection during pipeline maintenance and rehabilitation. Coating systems, including tungsten carbide coatings, are applied through surface preparation processes to enhance pipeline repair and replacement.
The pipe coating market is a significant segment of the global construction materials market, which encompasses the manufacturing industry of various materials, including pipe coatings, sand, clay, gypsum, lime, aggregates, cement, concrete, bricks, and others. According to Technavio, key growth drivers for the global construction materials market include the surge in the building and construction industry, particularly in water and wastewater treatment, fracking, chemical processing, potable water facilities, and pipeline corrosion protection applications. Factors such as the need for corrosion resistance, abrasion resistance, and chemical resistance in pipelines are fueling the demand for advanced pipe coatings, including 3LPP coatings, metallic coatings, fusion bonded epoxy, hardide coatings, and PU coatings. These coatings enhance the durability and longevity of pipelines, reducing maintenance costs and ensuring efficient operations in various industries, including oil and gas, water and wastewater treatment, and chemical processing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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