VALLEY COTTAGE, N.Y. – Avoiding corrosion has been a prime concern for oil & gas pipeline industry. Conventional oil & gas pipeline coatings save about 15-35% of overall cost of corrosion. As a consequence, players operating in oil & gas pipeline coatings market are adding novel solutions, including self-healing, and corrosion-tolerant features. North America and Asia Pacific (APAC) is attracting huge attention of stakeholders owing to upcoming large-scale pipeline projects in tandem with increasing energy demand. FMI finds that global oil & gas pipeline coatings market is projected to grow at a healthy CAGR of ~6% over forecast period (2019-2029).
Fusion Bonded Epoxy Coatings to Garner Prominence
Fusion bonded epoxy (FBE) coatings continue to observe greater traction, accounting for over 2/5th of total sales of oil & gas pipeline coatings. These powder-based coatings shrink the concentration of flammable substances that form in a confined space as well as exhibit low permeability and low coefficient of friction. Further, increasing preference for powder- and water-based coatings is driving the sales of FBE coatings.
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Rising Application in Downstream Sector
Significant upsurge in oil exploration projects, deeper offshore installations, and more unconventional oil and gas transportation via pipelines are giving rise to new corrosion issues. Such a situation indicates surging demand for advanced oil & gas pipeline coatings. Corrosive chemicals and erosion continue to adversely affect equipment and structures in the downstream sector, as such, demand for oil & gas pipeline coatings in this domain is expected to boost. Furthermore, FMI reveals discovers rising application of oil & gas pipeline coatings in the midstream sectors.
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Analysts at FMI suggest that “The market of oil & gas pipeline coatings is mainly driven by increasing cross-country pipeline projects, and stabilizing crude oil prices. Manufacturers are introducing innovative oil & gas pipeline coatings for enhanced application in extreme and corrosive conditions.”
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