According to the latest report by IMARC Group, titled “Spoolable Pipes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global spoolable pipes market size reached US$ 1.7 Billion in 2022. Spoolable pipes, also known as composite pipes, are lightweight, flexible, durable, and corrosion-resistant alternatives to traditional steel pipes. These pipes are made from a combination of plastic and reinforcing fibers, including carbon or glass fibers, that are wound around a spool to create a continuous length of pipe. They offer numerous advantages, such as a high strength-to-weight ratio, corrosion and chemical resistance, and easy installation. Apart from this, spoolable pipes require minimal maintenance and have a longer lifespan than traditional pipes, helping businesses save time and money. They are versatile, cost-effective, and can be easily transported and installed in various environments, including offshore and onshore oil and gas fields, chemical processing plants, and water treatment facilities.
Global Spoolable Pipes Market Trends:
The increasing demand for spoolable pipes from the expanding oil and gas industry across the globe to transport crude oil and natural gas is primarily driving the market growth. Concurrent with this, the largescale product utilization in gas gathering lines, water distribution, mining, and water treatment plants is impelling the market growth. Moreover, the implementation of favorable green initiatives and regulations by governments and the escalating awareness among consumers about the advantages of spoolable pipes over traditional steel pipes are influencing the market growth. In addition to this, the escalating demand for renewable energy sources, such as wind and solar power, is enhancing the need for spoolable pipes used for constructing transmission and distribution systems, which is creating a positive outlook for the market. Furthermore, ongoing technological advancements, such as the development of new spoolable pipe materials produced using improved manufacturing processes, are presenting remunerative growth opportunities for the market. Besides this, the advent of complementary spoolable composite pipe technology for enhancing performance at high loads is contributing to the market growth. Looking forward, the market value is projected to reach US$ 2.2 Billion by 2028, expanding at a CAGR of 3.9% during 2023-2028.
- Based on the matrix type, the market has been bifurcated into thermoplastics and thermosets.
- On the basis of the reinforcement type, the market is segregated into glass fiber-reinforced, carbon fiber-reinforced, steel-reinforced, and other spoolable pipes
- Based on application, the market has been categorized into onshore, offshore, downhole, and others.
- On the basis of the sales channel, the market is divided into direct sales and distributors.
- Region-wise, 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, FlexSteel Pipeline Technologies Inc., Future Pipe Industries, Hebei Heng An Tai Pipeline Co. Ltd, Magma Global Ltd. (TechnipFMC plc), NOV Inc., Pipelife International Gmbh (Wienerberger AG), Shawcor Ltd., Smartpipe Technologies and Strohm B.V.
|Base Year of the Analysis
||Matrix Type, Reinforcement Type, Application, Sales Channel, 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, FlexSteel Pipeline Technologies Inc., Future Pipe Industries, Hebei Heng An Tai Pipeline Co. Ltd, Magma Global Ltd. (TechnipFMC plc), NOV Inc., Pipelife International Gmbh (Wienerberger AG), Shawcor Ltd., Smartpipe Technologies and Strohm B.V..
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