According to the latest research published in the American magazine "Future Market Insights",The global market for epoxy powder coatings for oil and gas pipelines will experience strong growth from 2019 to 2029, reaching USD 700 million by the end of 2029.
Continued growth in offshore oil and gas exploration and production activities, stable crude oil prices, increased construction of international oil and gas pipelines, and upgrades to existing pipelines are all key factors driving the increasing demand for oil and gas pipeline coatings. Fusion epoxy powder coatings are used as pipeline coatings, providing both corrosion protection and drag reduction, forming an effective barrier to prevent the leakage of low and high temperature liquid media. These superior properties make fusion epoxy powder coatings the preferred choice for oil and gas pipelines.
The Asia-Pacific region is expected to be the fastest-growing market for oil and gas pipeline coatings. With the rise in crude oil prices, investments in oil and gas industrial projects are expected to grow by 6% from 2017 to 2025. Increasingly strict government environmental regulations limiting the emission of volatile organic compounds (VOCs) will inevitably hinder the use of solvent-based coatings in oil and gas pipelines.
Furthermore, oil and gas pipelines laid in deep-sea environments face numerous new challenges, such as higher operating temperatures and more corrosive transport media, which have spurred the development and advancement of pipeline coatings. Novel insulation materials also represent a frontier area for the development of pipeline coating systems.
Article reprinted from the online publication: Powder Coating Online