Pipe Coatings Market | Key players: PPG Industries, Inc. , Akzo Nobel N. V., The Sherwin-Williams Company , The Valspar Corporation , Axalta Coating Systems Ltd. , Wasco Energy Ltd., Arkema S.A., Shawcor Ltd., 3M Company , and Specialty Polymer Coatings,

According to recent research "Pipe Coatings Market by Form (Powder, and Liquid), Type (Thermoplastic Polymer, Fusion Bonded Epoxy, Concrete Coatings), End-Use Industry (Oil & Gas, Water & Wastewater Treatment, Chemical Processing), and Region-Global Forecast to 2021", The global pipe coatings market is projected to reach USD 14.42 Billion by 2021, at a CAGR of 4.7% from 2016 to 2021.

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The market size for pipe coatings is projected to reach USD 14.42 billion by 2021, at a CAGR of 4.7% from 2016 to 2021. North America is the leading market for pipe coatings, in terms of value and volume. Countries in this region such as the U.S., Canada, and Mexico are witnessing a gradual increase in the use of pipe coatings in various end-use industries such as oil & gas, chemical processing, water & wastewater treatment, and others. South America is expected to be the fastest-growing market till 2021. The pipe coatings industry in South America is expected to grow as this region is witnessing a high demand for oil & gas. Further, the increase in the number of pipelines for water & wastewater treatment is also driving the pipe coatings market in this region.

The U.S. leads the North America pipe coatings market due to the rise in the oil & gas industry and increasing upstream, midstream & downstream activities that are promoting the use of pipelines. Hence, these factors are driving the market for pipe coatings in the region. The growth in the chemical processing industry is further expected to drive the pipe coatings market in Mexico and Canada in the future.

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New product launches was the key strategy adopted by industry players to strengthen their shares in the pipe coatings market. This strategy accounted for a share of 44.0%, between 2012 and 2016, of all growth strategies adopted by market players. Rising demand for pipe coatings across various end-use industries is due to the increasing demand for pipelines. Both, expansions, and mergers & acquisitions strategies accounted for share of 19.0%, between 2012 and 2016. Besides new product launches and mergers & acquisitions, companies are investing in partnerships with pipe coatings manufacturing facilities in emerging regions across the globe. Partnerships accounted for a share of 12.0% of all the developments witnessed between 2012 and 2016. Companies are also focusing on joint ventures. This strategy accounted for 6.0% of all the strategic developments in the market.

Major manufacturers such as PPG Industries, Inc. (U.S.), AkzoNobel N. V. (The Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.) Axalta Coating Systems Ltd. (U.S.), Wasco Energy Ltd. (Malaysia), Arkema S.A. (France), Shawcor Ltd. (Canada), The 3M Company (U.S.), and Specialty Polymer Coatings, Inc. (Canada) are profiled in this report. These companies have adopted both, organic and inorganic growth strategies.

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PPG Industries, Inc. (U.S.) is the most active player in the pipe coatings market, and has developed various pipe coatings to cater to the market effectively. The company adopted the mergers & acquisitions, expansions and new product launches strategies in recent years. As part of its strategy, PPG Industries, Inc. developed new liquid coatings products which were expected to be used on pipelines in September 2016. Further, it also opened a liquid coatings application center to improve its customer base and provide service to customers, in May 2016.

Another company that has established a strong foothold in the pipe coatings market is Axalta Coating Systems Ltd. (U.S.). The company adopted the new product launches and partnerships strategies in the U.S. in order to facilitate the availability of coatings for the North American oil & gas pipeline in June 2015. Further, the company also launched new products which are being used as internal coatings for pipelines, in December 2016. This has helped the company to strengthen its product portfolio.

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