Stringent Policies Drive Surge in Oil and Gas Pipeline Coating Market, Forecasted to Reach US$ 8.9 Billion by 2034

Oil and Gas Pipeline Coating Oil and Gas Pipeline Coating

According to Future Market Insights (FMI), the global oil & gas pipeline coatings market registered a year-on-year (YoY) growth of 4.4% in 2023. Demand in the oil & gas pipeline coatings market is projected to grow at a value of 5.4% CAGR between 2024 and 2034. Future Market Insights (FMI) forecasts the market value to top USD 8.9 billion in 2034.

Witnessing robust expansion over 2022 to 2029, the global market for oil & gas pipeline coatings will reach revenues worth US$ 7 Billion towards 2029 end. Growing offshore exploration and production activities, stabilizing crude oil prices, rise in cross-country pipeline projects, and rehabilitation of existing pipelines are some of the key factors that would majorly account for the increasing demand for oil & gas pipeline coatings in the market.

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Oil & gas Pipeline Coatings Market​ Key Takeaways

  • Fusion-bonded epoxy (FBE) coatings, attributed to their low coefficient of friction and low permeability, create a tight barrier that prevents the permeation of cold and hot liquids. This property would continue to position them as a preferred choice for oil & gas pipeline coatings.
  • The Asia Pacific region, which has more than 10,000 miles of pipeline under construction and further over 9,750 miles of planned pipeline projects, is likely to reflect robust growth opportunities facing players operating in the oil & gas pipeline coatings market.
  • With crude oil prices recovering, investments in the oil & gas industry are projected to rise by 6% between 2017 and 2025. These will fuel exploration & production activities around the world, propelling oil & gas pipeline coatings demand.
  • In the upstream segment, although the onshore sector constitutes most of the market share, the offshore sector, driven by increasing investments, is estimated to witness robust growth in the oil & gas pipeline coatings market.
  • Stringent regulations pertaining to volatile organic compound (VOC) emissions are anticipated to impede the growth of solvent-based oil & gas pipeline coatings, which are prone to VOC emissions during the drying process.

Pipe laying in deep waters or high operating temperatures, and increasing corrosive properties of flow materials have been driving advancements in pipeline coatings. These advances such as thermal insulation will bring forth a range of new technological frontiers in the pipeline coatings space in the near future.

Market Landscape Moving Towards Consolidation

The oil & gas pipeline coatings market is technology-driven and remains dominated by a handful of players that possess extensive R&D capabilities. Leading players operating in the global oil & gas pipeline coatings market,

Leading Oil and Gas Pipeline Coating Brands

  • LyondellBasell Industries N.V.
  • 3M
  • Sherwin-Williams Company
  • PPG Industries, Inc.
  • Koninklijke DSM N.V.
  • Akzo Nobel N.V.
  • Arkema S.A.
  • RPM International Inc.
  • Axalta Coating Systems
  • Shawcor
  • Wah Seong Corporation Berhad
  • Chase Corporation
  • The Jotun Group
  • Teknos Group
  • Borouge
  • Seal for Life Industries, LLC
  • Jining Xunda Pipe Coating Material Co., LTD

What Does the Future Hold?

Crude oil prices are extremely volatile in nature, affected by growing US oil & gas production, OPEC production cuts, and oversupply of crude oil. Considering the number of pipeline projects in the construction phase and older, existing pipelines in need of reconditioning, the oil & gas pipeline coatings market is projected to witness robust growth during the forecast period.

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Interested in Detailed Actionable Insights?

Future Market Insights has published a market research report on the oil & gas pipeline coatings market that contains a global industry analysis for 2014–2018 and an opportunity assessment for 2019–2029. The report provides an insightful analysis of the oil & gas pipeline coatings market through four different segments, namely coating type, formulation base, application, and region.

The oil & gas pipeline coatings market report also provides demand trends of different coating types across three industry verticals, a comprehensive list of service providers in the market, various pipeline coating projects around the world along a detailed overview of the parent market.

Oil & Gas Pipeline Coatings Markey By Category

By Coating Type:

  • Fusion Bonded Epoxy
  • Polyurethane
  • Coal Tar Enamel
  • Concrete
  • Polyolefin
  • Others

By Formulation Base:

  • Water Based
  • Solvent Based
  • Powder Based

By Application:

  • Upstream
    • Onshore
    • Offshore
  • Midstream
  • Downstream

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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