Even with a properly installed refrigerated air dryer located at or near the air compressor site, the fact that your plumbing is exposed to the changes in temperature will allow moisture to reappear along this route.
Even worse is when the plumbing is allowed to sag or have low spots to drop around a structure or object. This low spot will, over time fill with moisture, and perhaps compressor oils, that at some point will move downstream into your pneumatic tool, or spray paint application, all at one time. The best advice to make sure this does not happen is to install a properly sized compressed air filter at the point of use.