Oil & Gas Pipeline Coatings Market to Exceed US$ 4 Bn by 2019 End
Oil & gas industry continues to be one of the most significant contributors to global economy. However, as energy reserves are depleting, companies are exploring new and advanced technical possibilities that promise reliable energy supply in the future. Additionally, as the drive to cut capital costs and need to adhere to strict environmental regulations are inherent to the industry, long life of coating systems and effective protection of assets are of paramount importance. Future Market Insights, in its new study, outlines the growth trail of the oil & gas pipeline coatings market, which is estimated to surpass US$ 4 Bn mark in 2019.
Key Growth Influencers – Oil & Gas Pipeline Coatings Market
Oil & Gas Industry Players Focus on Optimum Corrosion Protection
Oil & gas pipelines are an essential part of the energy infrastructure, and tackling corrosion is one of the primary challenges for the industry. Pipeline failures can cause environmental damage on a global scale; hence, the application of oil and gas pipeline coatings is of utmost importance to operators.
According to the 'International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT)' study, the global cost of corrosion removal was estimated to be around US$ 2,505.4 Bn in 2013. This is equivalent to 3.4% of the global GDP. However, by using current available corrosion control practices, approximately 15% to 35% of the total cost of corrosion can be saved, which is between US$ 400 Bn to US$ 900 Bn, globally. Therefore, manufacturers involved in the pipeline coatings industry have added new solutions such as self-healing and damage-tolerant pipeline coatings. These have microcapsules loaded with film forming, and anti-corrosion agents that create a barrier to prevent any moisture from reaching the surface.
Rising Investments in E&P Exploration Paving the Way for New Pipeline Projects
Pipelines play a major role in the transportation of oil and gas products from one facility to another. Major intra-country and inter-country pipeline projects are under development to meet the growing demand from the oil & gas sector across the globe. With the global crude oil prices recovering, global investments in the industry are anticipated to grow by 6% between 2017 and 2023. As a part of these investments, an estimated 36,000 kilometers of onshore and offshore pipelines are planned in the coming 5 years to connect various production facilities, processing plants, refineries, and distribution facilities.
Stringent Regulations on VOC (Volatile Organic Compound) Emissions
The coatings industry is one of the most heavily-regulated industries across the globe. Hence, in recent years, manufacturers have been focusing on the production of coating technologies, which meet regulatory standards. Due to high VOC emissions, the solvent-based coatings market is witnessing volatility. Various environmental regulatory bodies such as European Environment Agency (EEA) and Environment Protection Agency have set VOC content limits for various coatings in the market. Therefore, the increasing stringent regulations on VOC emissions are expected to hinder market growth of traditional solvent-borne coatings.
Oil and Gas Pipeline Coatings Market Structure Analysis
- The global oil and gas pipeline coatings market is a moderately fragmented market owing to the presence of more number of players in the global market.
- Manufacturers operating in the oil and gas pipeline coatings market are focusing on business expansion through mergers, acquisitions, and joint ventures. Key market players focus on strategies such as offering customized products, adding production lines in developing countries, and enlargement of distribution channels, which will help increase sales of oil and gas pipeline coatings.
- For instance, in July 2019, Akzo Nobel N.V. announced plans to add three new production lines in China at its Changzhou powder coatings plant.
- In September 2019, Shawcor started offering custom coatings to ensure maximize protection for customer projects.
- In September 2016, RPM International Inc. acquired Specialty Polymer Coatings, a manufacturer of oil and gas pipeline coatings.
- Major players in the oil and gas pipeline coatings market include, Akzo Nobel N.V., Axalta Coating Systems, Sherwin-Williams Company, PPG Industries, RPM International Inc., BASF SE, LyondellBasell Industries Holdings B.V., 3M, Koninklijke DSM N.V., Shawcor Ltd., Arkema SA, and Chase Corporation.
Fusion Bonded Epoxy Powder-based Coating Accounts for over 40% Share
Fusion bonded epoxy coating continues to witness higher demand as compared to its polyolefin and polyurethane counterparts. A gradual shift from solvent-based coatings to powder- and water-based coatings, as the latter reduce the concentration of flammable materials that build up in a confined space, has contributed to growing demand for fusion bonded epoxy coating. Accounting for over 40% of total sales of oil & gas pipeline coatings, manufacturers are specifically emphasizing this category. Concrete and coal tar enamel coatings, on the other hand, are accounting for relatively low revenue share, despite their primacy in pipeline industry for over a century.
South Asia’s Opportunistic Potential Rising
Demand for oil & gas pipeline coatings is currently based on increasing number of oil & gas pipeline projects, significant advances in pipeline coating technologies, and ongoing exploration of new energy reserves. Growth prospects of the market will remain high in North America owing to increasing energy demand at above-average levels and ascending oil production in the U.S. South Asian market is also set to reflect a lucrative opportunity, as a number of projects lined up for the years to come. With oil & gas companies seeking to further develop their downstream sector, South Asia becomes the top target market for them.
* This data is only a representation. Actual data may vary and will be available in report.
Key Players Targeting Whitespaces in Nanotechnology
Manufacturers are focusing on leveraging new technologies and formulations to stay ahead of the curve and are currently focusing on the use of nanotechnology. Nanostructured pipeline coatings are not only hard and abrasion-resistant but also provide effective coating to internal and external complex surfaces. Moreover, greater emphasis on eco-friendly products has led to realignment of manufacturers’ strategies with the use of nanotechnology.
Fusion bonded epoxy remains top selling category
Demand for polyurethane coating picks pace
Powder-based coatings remain highly preferred
Demand for water-based coatings on rise
High application in downstream sector
Adoption in midstream sector increases rapidly
How Growth will Unfold
With an exponential rise in oil exploration activities, deeper offshore installations, and more unconventional oil and gas transporting through pipelines, new corrosion challenges are appearing. This, in turn, is leading to surge in demand for innovative oil & gas pipeline coatings. Aggressive chemicals and erosion-corrosion continue to take a toll on equipment and structures in the downstream sector, thereby potentially raising the demand for oil & gas pipeline coatings. Adoption in the downstream sector accounts for relatively high sales, while growing application of oil & gas pipeline coatings in the midstream sectors is expected to result in increased market share in near future.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Oil and Gas Pipeline Coatings Market Analysis 2019 - 2029
A recent market study published by FMI on the oil and gas pipeline coatings market includes the global industry analysis for 2014-2018 & opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.
Oil & Gas Pipeline Coatings Market Taxonomy
Oil and Gas Pipeline Coatings Market: Taxonomy
- Fusion Bonded Epoxy
- Coal Tar Enamel
- North America
- Latin America
- South Asia
- East Asia
The report initiates with the executive summary of the oil and gas pipeline coatings market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the oil and gas pipeline coatings market.
In this chapter, readers can find the definition and a detailed taxonomy of the oil and gas pipeline coatings market, which will help them understand the basic information about the oil and gas pipeline coatings market. Along with this, comprehensive information about oil and gas pipeline coatings is provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the oil and gas pipeline coatings market report.
The oil and gas pipeline coatings market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed industry trends are provided in this section.
This section includes key successful factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the oil and gas pipeline coatings market for the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical oil and gas pipeline coatings market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the oil and gas pipeline coatings market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the oil and gas pipeline coatings market in the forecast period of 2019-2029.
This chapter explains key macro-economic factors that are expected to influence the growth of the oil and gas pipeline coatings market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the oil and gas pipeline coatings market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on coating type, the oil and gas pipeline coatings market is segmented into fusion bonded epoxy, polyurethane, coal tar enamel, concrete, polyolefin and others. In this chapter, readers can find information about the key trends and developments in the oil and gas pipeline coatings market and market attractiveness analysis based on coating type.
This chapter provides details about the oil and gas pipeline coatings market on the basis of formulation base and has been classified into water-based, solvent-based, and powder-based. In this chapter, readers can understand the market attractiveness analysis based on formulation base.
This chapter provides details about the oil and gas pipeline coatings market based on application and has been classified into upstream, midstream and downstream. The upstream application is again classified into two types- onshore and offshore.
This chapter explains how the oil and gas pipeline coatings market will grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America oil and gas pipeline coatings market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.
This chapter provides the growth scenario of the oil and gas pipeline coatings market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Important growth prospects of the oil and gas pipeline coatings market based on its end users in several countries such as Germany, France, the U.K., Spain, Italy, Russia, NORDICS, and the Rest of Europe are included in this chapter.
This chapter highlights the growth of the oil and gas pipeline coatings market in South Asia by focusing on India, ASEAN, and the Rest of SA. This section also helps readers understand the key factors that are responsible for the growth of the oil and gas pipeline coatings market in South Asia.
This chapter highlights the growth of the oil and gas pipeline coatings market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the oil and gas pipeline coatings market in East Asia.
This chapter highlights the growth of the oil and gas pipeline coatings market in Oceania by focusing on Australia and New Zealand. This section also helps readers understand the key factors that are responsible for the growth of the oil and gas pipeline coatings market in Oceania.
This chapter provides information about how the oil and gas pipeline coatings market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, North Africa, and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the oil and gas pipeline coatings market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the oil and gas pipeline coatings market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are BASF SE, LyondellBasell Industries N.V., 3M, Sherwin-Williams Company, PPG Industries, Inc., Koninklijke DSM N.V., Akzo Nobel N.V., Arkema S.A., among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the oil and gas pipeline coatings market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the oil and gas pipeline coatings market.
How the research was conducted?
- C - Level Executives
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- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- International Trade Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits