Companies operating in the steel pipeline coatings market are increasingly investing in research and development of innovative and high-performance coatings to gain a competitive edge.
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Burgeoning Demand for Energy to Propel Steel Pipe Coatings Market Growth
According to a recent report by the International Energy Agency, the global energy demand registered a growth of over 2% which was the fastest in the last decade. Additionally, natural gas and petroleum-based fuels were identified as the most preferred forms for energy generation. With demand for energy on the rise, oil and fuel exploration activities are expected to intensify in the foreseeable future.
Steel pipes are used extensively in oil exploration activities with the equipment finding use at each stage of exploratory operations and in distribution networks. In addition, advancements in the fracking procedure are allowing companies to access huge deposits of shale oil. Demand for steel pipes in the oil and gas industry is expected to witness a significant surge which, in turn, is likely to fuel steel pipe coatings market growth.
Nanotechnology to Aid in the Development of High-Performance Steel Pipe Coatings
Breakthroughs in nanotechnology are allowing manufacturers to leverage the technology for the production of high-performance steel pipe nanocoatings. Hybrid nanocoatings exhibiting superior abrasion and corrosion resistance are finding widespread adoption in the oil and gas industries. Manufacturers in the steel pipe coatings market are also using nanotechnology for production of ceramic nanocoatings specifically for use in marine pipe coatings.
Additionally, the technology is aiding manufacturers in the development of coatings for use in specific applications. Steel pipe coatings market is estimated to proliferate with nanotechnology expected to witness further developments in the foreseeable future.
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Sustainability to Drive Innovations in the Steel Pipe Coatings Market
Growing concerns about increasing greenhouse gas emissions in addition to intensifying governmental campaigns to ensure environmental protection is prompting manufacturers in the steel pipe coatings market to find eco-friendly and sustainable alternatives to the traditional materials. In addition, growing concerns regarding coatings polluting groundwater is capturing attention from regulatory authorities. Companies are increasingly working towards the development of sustainable and eco-friendly steel pipe coatings in order to comply with tightening regulations.
Manufacturers are investing heavily in research and development of geopolymer which offers bright prospects of achieving the goal of sustainability. Developed using aluminosilicate particles, geopolymer’s superior chemical and physical properties make it a suitable candidate for use as steel pipe coatings. In addition, its hazardous waste capturing capability can make it a suitable prospect for use in steel pipe coatings that are used to transport drinking water. These developments are expected to aid companies in the steel pipe coatings market gain penetration in end-user industries.
Steel Pipe Coatings – Competitive Landscape
- Innovation in the development of steel pipe coatings for marine environment received a huge boost after new research introduced the concept of producing coatings to prevent biofouling activities. The research suggests using marine organism sensory interference principle for the development of coatings to prevent biofouling from sea barnacles and zebra mussels.
- A significant development addressing the burgeoning demand of high-performance steel pipe coatings to inhibit corrosion in oil and gas industries was the release of a study which suggested the use of composite coatings in steel pipelines used in the industry. The study suggested an increase in additives used in coatings aided in enhancing the surface hardness and wear resistance of steel pipelines.
- With the demand for treatment of damaged coatings on the rise, researchers released a new study highlighting the use of cathodic protection to decelerate corrosion of the exposed steel pipe while preventing damage to any surrounding coatings.
Some of the leading players operating in the steel pipe coatings market include SHAWCOR, LaBarge Coating, LB Foster, The Bayou Companies, MULHEIM Pipe Coatings, Southland Pipe, Sub-One Systems, and Kelly Pipe Co. LLC.
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Steel Pipe Coatings Market: Segmentation
The global steel pipe coatings market can be segmented on the basis of material type, end use industry, and application.
The global steel pipe coatings market has been segmented on the basis of the material type as,
- Fusion bond epoxy
- Bituminous asphalt
The global steel pipe coatings market has been segmented on the basis of end use industry as,
- Food & Beverages
- Oil & Gas
- Building & Construction
The global steel pipe coatings market has been segmented on the basis of application as,
- Wastewater treatment
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