Steel Pipe Coatings Market

Steel Pipe Coatings Market Growth Outlook (2023 to 2033)

The global steel pipe coatings market is estimated to be valued at US$ 8.8 billion in 2023 and it is expected to grow at a CAGR of 4.7% to reach US$ 14.0 billion by the end of 2033.

Coatings for pipes are more successful than other corrosion prevention techniques including cathodic protection, sacrificial anodes, and inhibitors. As a result, steel pipe coating is gaining traction.

Report Attributes	Details
Steel Pipe Coatings Market Size (2022A)	US$ 8.4 Billion
Estimated Market Value (2023E)	US$ 8.8 Billion
Forecasted Market Value (2033F)	US$ 14.0 Billion
Global Market Growth Rate (2023-2033)	4.7% CAGR
North America Market Share (2023)	21.8%
East Asia Market Growth Rate (2023-2033)	5.8 % CAGR
Key Companies Profiled	Sherwin-Williams PPG Akzo Nobel 3M Axalta Arkema

Historic and Future Pathway Analysis for the Steel Pipe Coatings Market

One of the main forces driving the demand for steel pipe coatings is mushrooming oil and gas industry. In the coming years, demand for oil and gas will soar and as a result, the demand for steel pipe coatings is anticipated to experience tremendous demand.

• Short Term (2023-2026): Rising automotive industry across the globe pave the way to increase the demand for steel pipe coatings products.
• Medium Term (2026-2029): Emerging economies such as India and China drive the demand for steel pipe coatings in the medium term, due to the growing oil and gas industry.
• Long Term (2029-2033): Market players are adopting various ground-breaking strategies to curb the demand pool and gain high-profit margins. This is likely to drive the steel pipe coatings market in a long run.

According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.7% CAGR between 2023 and 2033.

Market Dynamics Outlook

“Mushrooming Marine Infrastructure Surging the Demand for Steel Pipe Coatings Market”

Steel pipe coatings help in preventing corrosion as well as providing efficient flow control in the pipeline. Long-distance transportation can be done with it successfully, and the demand for steel pipe coatings is rising quickly due to the rise in the development of the marine industry.

The majority of maritime infrastructure is submerged deep beneath the ocean's surface and plays a pivotal role in the effective process of offshore energy and communication systems. Offshore operations including oil and gas, wind energy, tidal energy, and telecom have a strong foundation for these offshore platforms, underwater structures, pipelines, mooring facilities, and cable connections.

The aforementioned factors above drive the steel pipe coatings market growth, hence, the steel pipe coatings are anticipated to witness growth on the back of the mushrooming marine industry.

“High-Cost Manufacturing Process to Hamper Steel Pipe Coatings Demand”

Unexpected barriers such as fluctuation in commodity prices are disrupting supply chains making it difficult for the manufacturers to continue to generate profits. Hence, volatile raw material prices are anticipated to limit the growth of the market across the globe.

In addition, low-solvent coatings require high capital investment. Furthermore, it requires new technology and organic coating.

Moreover, more technical experience and training in organic coating application is another restraint. The growth of the market may be hampered by these environmental restrictions and financial constraints.

Country-wise Insights

What are the Factors Driving Steel Pipe Coatings Demand Across the US?

The increase in oil and gas production in the United States is one of the main factors propelling the market for steel pipe coatings. Additionally, it is projected that rising demand in the automotive, aerospace, electronics, and other end-use industries would further fuel the rise in demand for steel pipe coatings in the US.

In addition, more than five of the top 10 manufacturers are based at the United States. The country's shale gas revolution has raised the use of steel pipes, which in turn raises the demand for steel pipe coatings.

Leading market players with high-volume production are also present in large numbers. The nation will maintain its prominent position in the global market in terms of consumption and production as a result of significant investment in the oil and gas sector.

Why is the India Steel Pipe Coatings Market Expected to Be Highly Lucrative?

With the Jamnagar Refinery, which is owned by Reliance Industries and has a production capacity of 1.24 million barrels per day, India is recognized for having a sizable petroleum refinery capacity. This calls for the delivery of oil through long-lasting, corrosion-resistant pipes.

In addition, expanding city gas distribution projects in India are driving up pipeline demand there. This is expected to increase demand for external pipe coating options as well as steel distribution pipes.

Apart from the oil & gas industry, rapid construction of water treatment facilities and extensive construction activities are fuelling demand for steel pipe coatings in the country.

Category-wise Insights

Why is Fusion Bonded Epoxy Coatings Highly Demanded across the Globe?

Fusion-bonded epoxy coatings have a sizable market share, and throughout the projection period, demand is anticipated to grow at a rapid pace.

Both the internal and external surfaces of the pipeline can be coated. The internal coating ensures that the liquid, fluid, gas, etc. delivered by the pipeline flows well and also prevents corrosion. Coatings on the outside are applied to stop natural erosion and corrosion brought on by water, dirt, and air.

The optimum inner coating for steel pipes carrying corrosive fluids containing sulfur, sand, or other reactive ingredients has been found to be fusion-bonded epoxy resins. Due to its superior durability and environmental advantages (coatings don't include any solvents or VOCs), powder-based epoxy is the most popular fusion-bonded epoxy material on the market.

Will Market Growth Be Led by the Growing Oil & Gas Industry?

Over the past few decades, the oil and gas pipeline business has experienced significant growth. Pipelines can efficiently carry fluids like gas, oil, and water. Stopping pipeline corrosion is becoming an international issue as a result.

Due to the oil and gas industry's rapid growth and the rapid construction of pipelines around the world, businesses involved in the sector are asking for more durable solutions for pipeline corrosion protection.

Due to the corrosive nature of crude oil, steel pipes with anticorrosion properties are the best option for transportation. The oil and gas industry has reported that corrosion has resulted in a sizable amount of loss. Since this discovery, the demand for steel pipe coatings has increased, generating significant sales and income for coating manufacturers.

Eminent Players Key Stratagems

Prominent steel pipe coatings manufacturers are Sherwin-Williams, PPG, Akzo Nobel, 3M, Axalta, Arkema, Shawcor, TMK, Chugoku Marine Paints, and Denso Group.

The companies are focusing on collaborations & partnerships that will accelerate innovation and manages risk at the same time and strategize toward expanding business domestically and internationally.

Companies are looking for better research and development facilities to make their products more unique and focusing on collaborative efforts in research and development to bring about future growth possibilities.

Fact.MR has provided detailed information about the price points of key manufacturers of steel pipe coatings positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Steel Pipe Coatings Industry Research

• By Pipe Diameter:

  • DN 350 - DN 600
  • DN 700 - DN 1000
  • DN 1200 - DN 2000
  • DN 2000 - DN3000
  • DN 3000 & Above

• By Solution:

  • Solvent-free
  • Solvent-based

• By Coating Material:

  • Fusion Bonded Epoxies
  • Fluoropolymer
  • Polyolefin
    • Polyethylene
    • Polypropylene
      • 2LPP
      • 3LPP
  • Coal Tar Epoxies
  • Epoxy Coated
  • High Performance Powder
  • Flow Efficiency
  • Liquid Epoxy
  • Others

• By Application Area:

  • Internal
  • External

• By End-use Industry:

  • Oil & Gas Industry
    • On Shore
    • Off Shore
  • Aerospace Industry
  • Automotive Industry
  • Marine Industry
  • Water Transportation Industry
    • Fresh Water
    • Brine
  • Others

• By Region:

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