PIPE COATINGS MARKET ANALYSIS

Pipe Coatings MarketSize and Trends

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.