Increasing offshore exploration and production activities as well as expanding energy infrastructure is likely to enhance the consumption of these coatings across its various application areas.
Oil and gas pipelines play a critical role in the transportation of hydrocarbon resources, such as crude oil and natural gas, over long distances. These pipelines are subject to various environmental and operational challenges, including corrosion, mechanical damage, and harsh weather conditions. To protect the pipelines and ensure their integrity, pipeline coatings are applied to provide a durable and reliable barrier.
Pipeline coatings serve several purposes, including corrosion prevention, insulation, and damage resistance. They are typically applied in multiple layers to achieve optimal protection.
Witnessing robust expansion over 2022 – 2029, the global market for Oil & Gas Pipeline Coatings will reach the revenues worth US$ 6,958.0 Million 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 increasing demand for oil & gas pipeline coatings in the market.
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Oil & gas Pipeline Coatings Market? Key Takeaways
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, Akzo Nobel N.V., PPG INDUSTRIES, Sherwin-Williams Company, Axalta Coating Systems, RPM International Inc., and BASF SE, are focusing on acquisitions of smaller and technology-driven paint & coating manufacturers to build on their product expertise and enhance market positioning.
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Oil & Gas Pipeline Coatings Markey By Category
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 13, 2023