According to the latest report by IMARC Group, titled “Flexible Pipe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global flexible pipe market size reached US$ 1.2 Billion in 2022. Flexible pipe is a multi-layered hollow tube fabricated from polyvinyl chloride (PVC), high-density polyethylene (HDPE), polyvinylidene fluoride (PVDF), fiberglass-reinforced polymer (FRP), polyamide (PA), and polypropylene (PP) materials. It encompasses layers of different components that allow substantial deflections without damaging the pipe. It further comprises corrosion-resistant steel wires and leak-proof thermoplastic barriers, which provide the structure with optimal flexibility, mechanical strength, dynamicity, and the ability to endure high temperatures under pressure conditions. Flexible pipes are cost-effective, easy to install, allow high flow rates, eliminate fluid loss, absorb vibrations and noises from compressors, and can be joined with connectors to channel liquids such as water, air, crude oil, and chemicals. Apart from this, flexible pipes can be modulated and customized per the requirements; thus, they find extensive application in the oil and gas, chemical, power generation, and water treatment operations.
Global Flexible Pipe Market Trends:
The large-scale demand for non-corrosive pipes in the oil and gas sector for performing various industrial applications represents a prime factor driving the market growth. This is further influenced by the escalating number of horizontal wells and the discovery of new oil reserves across the globe. Moreover, ongoing off-shore and onshore deep-water and subsea exploration activities and the increasing risk of leakages during operations are acting as another growth-inducing factor. In line with this, the implementation of numerous stringent safety standards by governments of several countries has prompted users to deploy flexible pipes in industries to ensure workers’ protection during the transfer of hot liquids, which, in turn, is contributing to the market growth. Additionally, the widespread product uptake in drainage systems of the residential, commercial, and industrial sectors, due to its high mechanical strength and corrosion-resistant properties, is propelling the market growth. Furthermore, technological advancements in drilling procedures and the adoption of engineering-grade flexible materials for manufacturing flexible pipes are supporting the market growth. Other factors, including the shifting consumer inclination towards sustainable pipes made from polyethylene and the advent of innovative product variants with enhanced efficiency and functionality, are positively impacting the market growth. Looking forward, the market value is projected to reach US$ 1.6 Billion by 2028, expanding at a CAGR of 4.1% during 2023-2028.
- On the basis of the raw material, the market is segregated into high-density polyethylene, polyamide, polyvinylidene fluoride, and others.
- Based on the application, the market has been bifurcated into onshore and offshore.
- On the basis of the end use industry, the market has been divided into oil and gas, water treatment plants, chemical and petrochemicals, mining, pharmaceuticals, food and beverages, and others.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Baker Hughes Company, Chevron Phillips Chemical Company LLC, Continental AG, DuPont de Nemours Inc., Evonik Industries AG, FlexSteel Pipeline Technologies Inc., General Electric Company, NOV Inc., Pipelife Nederland B.V. (Wienerberger AG), Prysmian S.p.A., Shell plc, Solvay S.A., Strohm B.V. and TechnipFMC plc.
|Base Year of the Analysis
||Raw Material, Application, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Baker Hughes Company, Chevron Phillips Chemical Company LLC, Continental AG, DuPont de Nemours Inc., Evonik Industries AG, FlexSteel Pipeline Technologies Inc., General Electric Company, NOV Inc., Pipelife Nederland B.V. (Wienerberger AG), Prysmian S.p.A., Shell plc, Solvay S.A., Strohm B.V. and TechnipFMC plc
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