Overview and Scope
Spoolable pipes are multi-layered composite pipes containing a thermoplastic liner, a reinforcing layer, and a thermoplastic outer cover. These are flexible composite pipes (FCP), which are utilized in high-pressure pipelines. A reinforcing layer is placed to the spoolable pipe to help it withstand high pressures along with a thermoplastic outer cover.
Sizing and Forecast
The spoolable pipes market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to oil and gas industry demand, advancements in composite materials, expansion in pipeline infrastructure, rise in exploration and production activities, cost and time efficiency
The spoolable pipes market size is expected to see strong growth in the next few years. It will grow to $2.03 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rise in energy infrastructure development, increasing demand for flexible pipeline solutions, focus on environmental sustainability, expansion of infrastructure in developing regions, increase in offshore and subsea applications. Major trends in the forecast period include technological innovations in manufacturing processes, renewable energy projects, increased applications in water management, growing preference for lightweight and flexible pipes, focus on pipeline safety and reliability.
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Segmentation & Regional Insights
The spoolable pipes market covered in this report is segmented –
1) By Matrix: Thermoplastics, Thermosets
2) By Reinforcements: Glass Fiber Reinforcement, Carbon Fiber Reinforcement, Steel Reinforcement
3) By Sales: Direct Sales, Distributors
4) By Application: On-shore, Off-shore, Downhole
North America was the largest region in the spoolable pipes market share in 2023. The regions covered in the spoolable pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for oil and gas is expected to drive the growth of the spoolable pipes market going forward. Spoolable pipes are used in oil and gas production drilling, storage and transportation systems. They are reliable solutions for transporting hydrocarbons, refined fuels and chemical products due to their remarkable strength-to-weight ratio, chemical resistance and paraffin build-up resistance For instance, in November 2023, according to the US Energy Information Administration, a US-based federal statistical system for gathering, processing, and disseminating energy data, there is an increase in U.S. crude oil output to 12.4 million b/d in 2023 from the record high of 11.7 million b/d in 2022. Furthermore, in May 2021, a report was published by the Petroleum Planning & Analysis Cell (Ministry of Petroleum & Natural Gas); the petroleum product production increased by 15.5% in May 2021, compared to a 30.9% increase in April 2021. Therefore, the increasing demand for oil and gas will propel the growth of the spoolable pipes market
Key Industry Players
Major companies operating in the spoolable pipes market report are Shawcor Ltd., National Oilwell Varco Inc., Pipeline International GmbH, Baker Hughes Company, Future Pipe Industries LLC, Polyflow LLC, Airborne Oil & Gas B.V., Magma Global Ltd., Smartpipe Technologies Limited, Strohm B.V., Changchun Gaoxiang Special Pipes Co. Ltd., Flexpipe Inc., Fibron Pipe GmbH, Cairn India Limited, Belco Manufacturing Company, GE Oil & Gas, Hebei Heng An Tai Pipeline Co. Ltd., Hebei Shengtian Pipe-Fitting Group Co. Ltd., Hebei Yanshan Yonghui Steel Pipe Co. Ltd., Hebei Zhonghai Steel Pipe Manufacturing Corporation, JFE Steel Corporation, NOV Fiber Glass Systems, Pipelife Nederland B.V., PolyPipe Inc., SoluForce GmbH, Spoolable Pipe Specialists LLC, Titeflex Corporation, TUBAOCEAN Offshore Engineering Co. Ltd., ZCL Composites Inc., Zhejiang Jiuli Hi-Tech Metals Co. Ltd.
The spoolable pipes market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……….
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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