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Pipe Coatings Market Trends

Report ID: GMI8214
Published Date: Feb 2024
Report Format: PDF

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Pipe Coatings Market Trends

As environmental regulations become more stringent, there is a growing demand for coatings with low volatile organic compounds (VOCs) and reduced environmental impact. Coating manufacturers are investing in research and development to create innovative, eco-friendly formulations while maintaining high-performance corrosion protection. Additionally, the market is witnessing a shift towards smart coatings with functionalities such as self-healing and monitoring capabilities, enhancing the overall efficiency and longevity of coated pipelines. These trends align with the industry's commitment to sustainable practices and the pursuit of advanced technologies to meet evolving market demands.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for pipe coatings was USD 8.8 billion in revenue in 2023 and is set to expand at over 4.7% CAGR between 2024 and 2032 owing to the rising demand for corrosion protection in the oil & gas sector, water and wastewater infrastructure, and industrial applications.

Water-based pipe coatings industry held 39.6% revenue share in 2023 and is estimated to witness high demand through 2032 owing to their lower VOC content, reduced environmental impacts, and compliance with stringent regulations.

North American pipe coating accounted for 20.4% revenue share in 2023 and is anticipated to record substantial growth through 2032 attributed to robust industrial and technological infrastructure across the region.

Some of the leading enterprises engaged in the pipe coating market are AkzoNobel N.V., BASF SE, The Sherwin-Williams Company, Axalta Coating Systems, 3M Company, and Shawcor Ltd.