Flexible Pipe Market

Flexible Pipe Market Size & Growth (2023-2028)

The flexible pipe market is projected to grow at a compound annual growth rate of 5.0% over the outlook period from 2023-2028

A flexible pipe is made of several layers and the main parts are sealed thermoplastic barriers and corrosion-resistant steel wires that provide flexibility and superior dynamic behavior to the structure. Flexible pipes are used to transfer liquids and fluids such as crude oil and can operate under conditions of high temperature and pressure. A flexible hose is a hollow structure designed to transfer fluids or liquids from one location to another. It is extensively utilized in offshore and onshore oil and gas exploration, as well as in the production process. Technological advances are at the service of the evolution of flexible pipes. Corrosion is one of the main drawbacks associated with metal pipe systems. Secures both the inside and the outside of the pipe; thus considerably hindering hydraulic efficiency.

FLEXIBLE PIPE MARKET DRIVERS:

Technological advancements in the drilling process have revolutionized the oil and gas industry, allowing access to the most remote locations, unconventional formations, deepwater regions, and even the Arctic. These developments have played a key role in boosting the consumption of flexible hoses. Horizontal drilling and hydraulic fracturing have unleashed unconventional potential in various regions. Examples are the shale gas boom in North America and new discoveries of offshore oil fields in Europe and Africa. In North America, horizontal platforms accounted for the highest share of 79% of the total number of platforms, while vertical and directional platforms accounted for a share of 12%, each, as of June 2018.

Horizontal drilling allows operators to drill long and side wells to access the entire reservoir. The increasing adoption of lateral drilling techniques is expected to increase the demand for flexible tubing as it encourages the drilling of new reservoirs. These new drilling techniques also incorporate hydraulic fracturing, which involves pumping water into the rocks of the underground reservoir at high pressure to crack the formation. This causes the release of trapped oil reserves, which can be extracted later. Hydraulic fracturing, when used in conjunction with horizontal drilling, allows drilling to access unconventional resources. This technique is widely used in new drilling activities, especially in regions such as North America, South America, Asia-Pacific, and Africa driving the growth of the global flexible pipe market.

FLEXIBLE PIPE MARKET RESTRAINTS:

Environmental regulations in the oil and gas industry are increasingly stringent due to the harmful potential of well-drilling activities. Drilling activities in underground reservoirs can create hydraulic channels between contaminated surface water and relatively pure groundwater, which in turn eventually contaminate the drinking water supply. This translates into additional costs to treat the water produced during drilling activities, affecting the revenues of offshore and onshore drilling service companies, which in turn affects the revenues of the hose companies.

COVID – 19 Impact on the Flexible Pipe Market:

2021 has witnessed a sharp deterioration in the global macroeconomic situation, due to the outbreak of the coronavirus pandemic. In response to this health emergency, the governments of most countries have adopted containment measures, including travel bans, quarantines, and other public emergency measures, with severe repercussions on economic activity and the whole community production system. The first evidence of the impact of these measures on the economic performance of the countries first affected by the epidemic is starting to appear. Affected economies like Italy, China, UK, India, Spain, and the US have experienced a downturn in demand and the business cycle.

FLEXIBLE PIPE MARKET REPORT COVERAGE:

Market Segmentation:

On the basis of Raw Materials:

• High-Density Polyethylene
• Polyamides
• Polyvinylidene Fluoride
• Others

HDPE is anticipated to be the largest and fastest-rising segment in the global flexible pipe market. HDPE-based flexible pipe is easy to install and also has excellent physical properties which boosts its demand in the world market. Besides, it is more cost-effective than PA, PVDF, and other materials which further boosts the HDPE market in flexible pipe manufacturing.

On the basis of Ingredients:

• Offshore

  • Deepwater

  • Ultra-deep water

  • Subsea

• Onshore

The demand for coiled tubing is higher in marine applications due to increased exploration activities in deep water, ultra-deepwater and subsea. In addition, the price of coiled offshore tubes is much higher than that of coiled tubes used in onshore applications, which increases the market value of offshore applications.

On the basis of Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

The United States is the largest flexible pipe market in North America. The country's new shale resources and government policies, which aim to make the country a leading oil and gas producer in the coming years, are expected to boost the demand for flexible pipes in the country. Additionally, according to the US Energy Information Administration, the United States will become a net energy exporter in 2021 and will remain so throughout the forecast period, due to the large increase in liquids from oil factories' production of crude oil, natural gas, and natural gas (LNG), coupled with weak growth in energy consumption in the United States, and increased demand for oil and gas will drive the flexible pipe market forecast in North America.

The Middle East and Africa, the second-largest market, is expected to maintain their dominance over the next five years, led by Saudi Arabia, the United Arab Emirates, and Nigeria. The resumption of oil and gas activities in the region will mainly stimulate the demand for flexible pipes in the coming years.

Asia-Pacific is supposed to grow at a higher CAGR, due to strong demand from emerging economies. The Asia Pacific is a rising region in the flexible tubing market because of calls from emerging economies in the area such as China, India, Australia, and South Korea.

Flexible Pipe Market Recent Developments:

• In November 2018, Toyox launched a new chemical-resistant hose connector, a flexible fluorine hose. The plastic pipe manufacturer Toyox Co. Ltd. launched two new products. Patents have been filed for both products. The use of pipes to channel acidic or alkaline chemical solutions is a current concern in the industry.
• In March 2016, Durapipe launched the latest range of stainless steel braided flexible hoses as part of the HTA hot and cold water piping system. The new product line is made of silicone rubber, offering greater resistance to the most aggressive disinfection treatments recommended for the control of Legionella and Pseudomonas and is in addition to existing braided EPDM hoses.

FLEXIBLE PIPE MARKET KEY PLAYERS:

1. National Oilwell Varco, Inc
2. GE Oil & Gas Corporation
3. Magma Global Ltd
4. FlexSteel Pipeline Technologies, Inc
5. Shawcor Ltd
6. Pipelife Nederland B.V
7. Airborne Oil & Gas B.V
8. Technip FMC Plc
9. Prysmian Group
10. ContiTech AG.