What is the Historical Analysis of the Flexible Pipe Market Size?
The flexible pipe market has seen considerable growth due to a variety of factors.
• Over the past few years, the flexible pipe market has seen robust growth. The projections suggest that the market size will grow from $1.16 billion in 2024 to $1.22 billion in 2025, experiencing a compound annual growth rate (CAGR) of 5.2%.
Factors such as oil and gas industry expansion, offshore drilling and production activities as well as pipeline refurbishment requirements, environmental regulations and cost efficiency are the driving forces behind the growth seen during the historic period.
What Does the Future Hold for the Flexible Pipe Market?
The flexible pipe market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for significant expansion in the flexible pipe market in the coming years, with estimated market size reaching $1.54 billion by 2029, a compound annual growth rate (CAGR) of 6.1%.
This predicted growth within the anticipated period can be ascribed to factors such as an increasing need for resilient and adaptable piping, higher demand for flexible pipes, anticipated economic growth, geopolitical stability, and market competition dynamics. Noteworthy trends during the forecast period encompass customized and bespoke solutions, subsea systems integration, technological progressions, environmentally sensitive solutions, and innovative pipe technologies.
What Are The Core Factors Supporting Growth In Flexible Pipe Market?
The flexible pipe market is witnessing growth due to a surge in demand for oil and gas. Derived from the earth's crust, oil and gas serve as fuels and require flexible pipes for meeting technical needs and addressing water's geometric limitations in the industry. The upsurge in these fuels' demand directly impacts the flexible pipe industry. For example, the Energy Information Administration, a Federal Statistical System in the US focusing on the collection, analysis, and broadcasting of energy statistics, revealed in April 2024 that there was a 6% increase in natural gas usage in the electric power sector in July and August 2023, compared to the corresponding months in 2022. As such, the growing demand for oil and gas is expected to fuel the expansion of the flexible pipe market.
What Are The Primary Segments In The Global Flexible Pipe Market?
The flexible pipe market covered in this report is segmented –
1) By Raw Material: High-density Polyethylene, Polyamides, Polyvinylidene Fluoride, Other Raw Materials
2) By Application: Offshore, On shore
3) By End Use Industry: Oil And Gas, Water Treatment Plants, Chemical And Petrochemicals, Mining, Pharmaceuticals, Food And Beverages, Other End-Use Industries
Subsegments:
1) By High-density Polyethylene (HDPE): HDPE Pipes For Water Supply, HDPE Pipes For Gas Distribution, HDPE Pipes For Wastewater Management
2) By Polyamides: Nylon 6 Pipes, Nylon 11 Pipes, Nylon 12 Pipes
3) By Polyvinylidene Fluoride (PVDF): PVDF Pipes For Chemical Processing, PVDF Pipes For Water Treatment, PVDF Pipes For Pharmaceutical Applications
4) By Other Raw Materials: Thermoplastic Elastomers (TPE), Polypropylene (PP), Rubber-based Materials
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Which Key Trends Are Driving Changes In The Flexible Pipe Market?
Leading corporations in the flexible pipe market are concentrating their efforts towards creating innovative solutions, such as superior materials and inventive engineering designs, in order to cater to the increasing needs of submarine applications. These superior materials include high-performing polymers and composites that boost durability and flexibility, essentials for deep sea installations. An example of this is when Baker Hughes, an energy technology firm located in the United States, in November 2023, premiered PythonPipe. This new-age flexible pipe technology was crafted for efficient fluid transport in challenging circumstances, providing considerable benefits over conventional materials. PythonPipe's advanced co-extruded liner betters durability and decreases permeability, making it ideal for high-pressure applications upto 3,000 psi while also reducing installation time and costs by upto 60%. This ground-breaking solution cuts down on maintenance costs and dramatically diminishes carbon emissions throughout its use, thus encouraging sustainability in fluid management.
Who Are the Key Players in the Flexible Pipe Market?
Major companies operating in the flexible pipe market include:
• PT Elnusa Tbk
• Schlumberger Limited
• FlexEnergy LLC
• Flexitech Group
• Baker Hughes
• Saipem S.p.A.
• NOV Inc.
• National Oilwell Varco
• TechnipFMC plc
• Wavin B.V.
• Cosmoplast Industrial Company LLC
• Shawcor Ltd
• SoluForce
• FlexSteel Pipe
• Flexfab Horizons International
• Magma Global Ltd
• GE Oil & Gas Corporation
• Strohm B.V.
• The ContiTech Group
• Airborne Oil & Gas B.V.
• Pipelife Nederland B.V.
• Flexmaster Joint Kit Pvt. Ltd.
What Is The Most Dominant Region In The Flexible Pipe Market?
North America was the largest region in the flexible pipes market share in 2024. Middle East and Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible pipe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
