Market Size of Pipe Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pipe Coatings Market Analysis
The pipe coatings market is expected to grow at a CAGR of over 5% during the forecast period.
COVID-19 impacted the global pipe coatings industry in 2020. However, the rise in the water treatment industry post-pandemic has propelled the demand for pipe coatings globally.
- The major factors driving the growth of the market studied are the upsurge in shale oil and gas production in North America, growing infrastructure and industrialization in Asia-Pacific, rise in irrigation and agricultural activities in Southeast Asia, and rising demand for energy in Europe.
- On the flip side, plunging oil prices due to oversupply, operational challenges in newly discovered energy reserves, and competition from renewable energy substitutes are the restraints hampering the growth of the studied market.
- The growth in deep-water exploration and production activities and industrial growth in the Middle East & Africa are likely to provide opportunities for the market studied during the forecast period.
- Asia-Pacific dominated the market across the globe, where the demand is driven by the growing demand for applications in the irrigation sector, construction, oil and gas, and other industries.
