Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
In 2019, The Global Oil & Gas Pipeline Coatings Market Was Valued At US$ 3.90 Bn And Expanding At A CAGR Of 6.3% Over The Forecast Period (2020-2028).
The global oil & gas pipeline coatings market is majorly driven by the surge in offshore exploration and production activities worldwide. The growing cross-country pipeline projects and steadying crude oil prices are some other factors projected to enhance the global market demand over the forecast period. The rise in the restoration of existing pipeline systems coupled with rising oil & gas industry across the globe are some other major factors projected to enhance the market growth during the forecast period.
The rapidly growing technological advancements along with the adoption of mobile coating technology are some other major factors projected to drive the market demand in years to come. The increased focus of oil & gas industry players for optimum corrosion protection is one of the key factors estimated to fuel the market growth over the forecast period.
Moreover, growing oil & gas pipeline projects in Asia Pacific are expected to support the market growth throughout the forecast period. However, stringent government regulations for volatile organic compound emissions are some market restraints anticipated to hinder the market demand during the forecast period.
By Coating Type, Fusion Bonded Epoxy expected to continue its dominance in the Global Oil & Gas Pipeline Coatings Market
The fusion-bonded epoxy coatings had a major share in the global oil & gas coating market in 2019. The segment had its dominance due to the gradual shift towards powder-based & water-based coatings from solvent-based coatings to reduce flammable materials concentration. The surge in focus by manufacturers on fusion-bonded epoxy is another major factor for the segment growth during the forecast period. The deeper offshore installations are further projected to drive the demand for fusion bonded epoxy over the forecast period. Therefore, the fusion bonded epoxy segment is estimated to continue its dominant position in the global market during the forecast period.
By End-use, Upstream segment anticipated continuing its dominance in the Global Oil & Gas Pipeline Coatings Market
By End-Use, Upstream Accounted For The Major Share Of XX% In Global Oil & Gas Pipeline Coatings Market In 2019.
Based on the application the global oil & gas pipeline coatings market is segmented into upstream, downstream, and midstream segments. The upstream segment accounted for a key share in the global market in 2019 owing to growing oil & gas exploration activities and surge in investments for coating activities. The surge in pipeline projects across the globe is another major factor projected to enhance segment growth during the forecast period. The growing pipeline projects in Asia Pacific is further projected to enhance the segment growth in years to come. Hence, the upstream segment is projected to continuing its dominance in the global market over the upcoming years.
Growth prospects of Oil & Gas Pipeline Coatings are high in Asia Pacific
Asia Pacific is estimated to expand at a rapid pace throughout the forecast period in the global oil & gas pipeline coatings market. The growing oil & gas industry and a surge in pipeline projects are the major factors for the regional growth over the forecast period. In Asia Pacific, over 10,000 miles of pipeline projects are under construction and more than 9,750 miles of planned projects that are projected to drive regional growth in years to come.
In 2019, North America accounted for the major share in the global oil & gas pipeline coatings market owing to the increased energy demand and increasing oil production in the region. The U.S. had a major share in the North America oil & gas pipeline coatings market in 2019 owing to the presence of major market players such as Axalta Coating Systems, Sherwin-Williams Company, PPG Industries, Inc. and others.
Global Oil & Gas Pipeline Coatings Market is dominated by some major players and it is technology-driven. BASF SE, Akzo Nobel N.V., RPM International, Inc., PPG Industries, Inc., Axalta Coating Systems, Sherwin- Williams Company, Lyondell Basell Industries N.V., 3M, Koninklijke DSM N.V., Arkema S.A., Shawcor, Wah Seong Corporation Berhad, Chase Corporation, The Jotun Group, Tekons Group, Borouge, Seal for Life Industries, LLC, and Jining Xunda Pipe Coating Materials, Co. Ltd. The key market players are focusing on acquiring technology-driven coating manufacturers to enhance their product portfolio and to increase their market presence across the globe.
Oil and Gas Pipeline Coatings Market Segmentation:
Oil and Gas Pipeline Coatings Market By Coating Type:
- Fusion Bonded Epoxy
- Coal Tar Enamel
Oil and Gas Pipeline Coatings Market by Formulation Base:
- Solvent- Based
- Powder- Based
Oil and Gas Pipeline Coatings Market By Application:
Oil and Gas Pipeline Coatings Market By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa