North American pipe coating market to enjoy modest growth until 2020

Current low oil prices a constraint on North American pipe coatings market – study

Pipe coating underway

The global pipe coatings market is projected to be $11.63 billionUSD by 2020, registering a compound annual growth rate of 4.5 per cent between 2015 and 2020, according to a new report from Dublin-based Research and Markets.

Expansion will be driven by increasing infrastructure development activities in Asia-Pacific, rise in shale gas developments in North America, and continuous new product launches. The insights are contained in the study Pipe Coating Market – Global Forecasts to 2020.

North America, as the largest market for pipe coatings, is expected to enjoy moderate growth between 2015 and 2020 because of pipeline construction.

A medium to long-term surge in production from shale operations, as well as deep-water exploration and production activities in the Gulf of Mexico, are some of the major factors influencing the American oil and gas demand for pipe coatings.