Demand For Steel Pipe Coatings Market Driven By Shifting Consumer Perceptions And Growing Awareness
As per a new report published by Fact.MR – market research and competitive intelligence provider, the global steel pipe coatings market exceeds a valuation of US$ 8.1 Bn, and is set to expand at a CAGR of 4.7% over the forecast period of 2021 to 2031.
The construction of oil and gas pipelines has a history of more than 100 years. Pipeline transportation is an effective transmission method for water, oil, gas, and other fluid media. As such, preventing pipeline corrosion has become a prime challenge across the globe. Therefore, improving anticorrosion technology to reduce economic losses due to corrosion is a long-term issue in the anti-corrosion industry.
With the fast growth of the oil and gas industry and rapid expansion of pipelines across the globe, companies operating in the oil & gas industry are demanding more resilient solutions for pipeline corrosion protection. Crude oil is corrosive in nature and steel pipelines with anti-corrosion properties are the best option for transporting crude from one place to another.
It has been observed from the past several years that the oil & gas industry has experienced a high volume of loss due to corrosion. Demand for steel pipe coatings came into existence after this observation, and as a result, coating manufacturers are experiencing high sales and revenue generation
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Market Segments Covered in Steel Pipe Coatings Industry Research
By Pipe Diameter
- DN 350 – DN 600 Steel Pipes
- DN 700 – DN 1000 Steel Pipes
- DN 1200 – DN 2000 Steel Pipes
- DN 2000 – DN3000 Steel Pipes
- DN 3000 & Above Steel Pipes
- Solvent-free Steel Pipe Coatings
- Solvent-based Steel Pipe Coatings
By Coating Material
- Fusion Bonded Epoxies
- Fluoropolymer Steel Pipe Coatings
- Polyolefin Steel Pipe Coatings
- Coal Tar Epoxies
- Epoxy Coated Steel Pipes
- High Performance Powder Steel Pipe Coatings
- Flow Efficiency Steel Pipe Coatings
- Liquid Epoxy Steel Pipe Coatings
By Application Area
- Internal Steel Pipe Coatings
- External Steel Pipe Coatings
By End-use Industry
- Steel Pipe Coatings for Oil & Gas Industry
- On Shore
- Off Shore
- Steel Pipe Coatings for Aerospace Industry
- Steel Pipe Coatings for Automotive Industry
- Steel Pipe Coatings for Marine Industry
- Steel Pipe Coatings for Water Transportation Industry
- Fresh Water
- Steel Pipe Coatings for Oil & Gas Industry
Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.
Some of the key developments are:
- On 1st April 2020, AkzoNobel acquired a leading Mauritius-based paints and coatings company Mauvilac Industries Limited. The complete acquisition helps the company strengthen its distribution network across Europe and Africa.
- In January 2021, AkzoNobel signed an agreement with Guangdong Water to supply powder coatings for a landmark water pipeline in China.
- In February 2021, Arkema acquired Poliplas, a leader in hybrid-technology sealants and adhesives. The acquisition reinforce its presence in the Brazilian fast-growing construction adhesives market.
- On 5th May 2021, Axalta completed the expansion of its waterborne coatings plant in Shanghai, China. Expansion of the plant was done looking into the growing demand for sustainable coating solutions for commercial and industrial markets in China and the Asia Pacific region.
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Key Takeaways from the Market Study
- By end use application, music streaming services to make major use, expanding at 5% CAGR
- More than 3 out of 5 background music services to be deployed across cafes & restaurants
- U.S to emerge as a lucrative market, accounting for over 50% background music demand
- India experiencing substantial uptake, poised to register 2/5th of global background music demand
- Emergence of coffee joints to propel demand in Germany, registering a CAGR of 8%
- China, Japan and South Korea likely to emerge as highly opportunistic markets
- Global background music market demand to expand nearly 2x by 2031
“Emphasis on providing conducive ambience is prompting outdoor settings, including restaurants, cafes and gyms, to invest in good quality background music solutions, inclining growth,” says the Fact.MR analyst.
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