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Blue Skies Seen for 3 Industry Markets

Friday, March 25, 2011

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Better times are ahead—at least through 2015—for the global markets in corrosion inhibitors, paints and coatings, and pipes and pipe/hose fittings, according to a new series of upbeat market research studies.

The global corrosion inhibitor market is expected to reach nearly $6 billion, paints and coatings should top $116 billion, and the pipe and fittings market should rebound to $136.8 billion by the year 2015, buoyed by rising energy requirements worldwide and increased federal spending on infrastructure projects, the reports predict.

Overall Compounded Annual Growth Rates (CAGR) predictions for the three industries range from 3.5% to 4.6%.

Hawaii Corrosion Lab

Hawaii Corrosion Lab / University of Hawaii Mechanical Engineering

Demand for corrosion inhibitors—especially water-
based products—is expected to grow steadily
through 2015.

Global Corrosion Inhibitors

"Global Corrosion Inhibitor: Water- & oil-based, organic & inorganic type, applications, raw materials trends & forecasts (2010 - 2015)," by the Dallas-based firm Markets and Markets, foresees a significant boost in that market, driven by “growth in the end-user industries, growth in Asia, increasing scope of applications, [and a] focus on innovations to produce efficient and safe inhibitor[s].”

The water-based segment, valued at $3.6 billion in 2010, accounts for 75% of the market and is expected to reach $4.54 billion in 2015, at a CAGR of 4.8%. Oil-based and oil-soluble water segments are expected to grow at a CAGR of more than 3.6%, the company reports.

Asia has become the largest market for corrosion inhibitors, accounting for 36% of the global market in 2010, with Europe accounting for 31% and North America for 27%. The North American market, estimated at $1.29 billion in 2010, should top $1.5 billion by 2015, with a CAGR of 3.7%.

Challenges and Segments

The industry’s key challenges in the coming years will be the rising cost of raw materials, regulatory issues and environmental concerns, according to the report.

The report segments the market by products, applications and geography. Applications include power generation, oil and gas, refinery, pulp and paper, metal and mining, chemical processing and desalination plants. The market is also analyzed by formulation types, such as organic and inorganic compounds.

The report discusses the major technological and market trends, along with market share of major industry players, and includes key industry events such as new product launches, mergers and acquisitions, and agreements, the authors say.

Paints and Coatings: Markets & Technologies

Paints and Coatings: Global Markets & Advanced Technologies,” from bcc research, based in Rockville, MD, foresees a modest, but sustained, 3.2% CAGR for the next several years, bringing the market to $116.4 billion by the end of 2015.

International Marine

International Marine

Antifouling and other specialty coatings should
gain from modest, but sustained, demand.

Powder coating and emerging technologies, a nearly $18 billion market in 2010, will experience the highest growth—5.9% CAGR over the period—and should top $23 billion by 2015.

The market for waterborne coatings—about $24.8 billion in 2010—is expected to grow at a CAGR of 5% to $31.6 billion in 2015.

The report covers liquid- and powder-based paints, varnishes, and related products used for protective and decorative, architectural, industrial and automotive, specialty, or other purposes. The specialty segment consists of aerosol paints, marine paints, high-performance maintenance coatings, and automotive refinish paints. The industrial segment comprises products that are factory-applied to manufactured goods as part of the production process.

Inks, thinners and raw materials such as pigments and solvents are not included in the report.

Pipes and Pipe/Hose Fittings

Pipes and Pipe/Hose Fittings: A Global Strategic Business Report,” by Global Industry Analysts Inc., foresees light at the end of a very grim three-year recessionary tunnel.

The pipe industry was hit harder than most in recent years by reduced manufacturing, commercial and economic activity, which hurt demand from the oil and gas segment, city gas pipe projects, irrigation, water and sewage, and replacement demand. The weakened global economic environment also caused a sharp reduction in exploration activity.

The good news, says GIA: That all should be changing. “Escalating energy requirements demand due to population increases, rising stress on water supplies, and mounting interest in producing lead-free pipes are all forecast to swing back into action, driving growth in the post-recession period,” reports the San Jose-based research firm.

The plastic pipe market will gain from advances in drinking water transfer systems and sewage and drainage systems.
“With signs of stronger economic conditions, shriveling inventories, and price hikes, the pipe industry is expected to look up with the resumption of normalcy beginning from 2011,” GIA reports. “The emerging economies will be the critical factor in driving world pipe and pipe/hose fittings demand in the post-recession period.”

The largest, fast-growing market will be in Asia-Pacific, with a 4.6% CAGR expected through 2015.

Meanwhile, GIA reports, “worldwide pipe companies are eyeing the lucrative market of the Middle East where the energy and construction sector—the main pipe consumers—holds out the promise of good business despite a slight weakening caused by the global financial meltdown.”


Tagged categories: Economy; Finance; Market; Market forecasts

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