Spoolable Pipe Market worth US$ 1,065.8 million in 2023

Stratview Research announces the launch of a new research report on Spoolable Pipe Market. This 224-page extensive report from Stratview Research, studies Spoolable Pipe Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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This Spoolable Pipe Market analysis has been segmented in four ways, keeping in mind the interest of all the stakeholders across the value chain.
• By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle)- The passenger car is expected to remain the growth engine.
• By Material Type (Aluminum Engine Oil Pans, Steel Engine Oil Pans, Composite Engine Oil Pans)- Aluminum is expected to remain the most dominant material type.
• By Product Type (Structural Engine Oil Pans, Non-Structural Engine Oil Pans)- Structural oil pan is expected to remain the most dominant product type in the market.
• By Region (North America, Europe, Asia-Pacific, Rest of the World)- Asia-Pacific is expected to remain the largest automotive engine oil pan market.

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Spoolable Pipe Market Insights
The global spoolable pipe market offers a healthy growth opportunity for the entire ecosystem and is projected to reach US$ 1,065.8 million in 2023. The market includes both spoolable composite pipe (SCP) and reinforced thermoplastic pipe (RTP). Despite the short-term fluctuations in the demand for spoolable pipes driven by decreasing rigs or wells count, the long-term business outlook seems promising with good growth potential over the next five years. An expected recovery in the rigs or wells count, cost competitiveness of spoolable pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable pipe over steel ones in small diameter pipes are the major factors that are proliferating the growth of the market.

Over 90% of the failures in pipes in the high-pressure applications are related to 6-inch diameter or smaller pipes. Most of the failures are due to the internal and external corrosion. Spoolable pipes offer excellent corrosion and erosion resistance properties, high fatigue resistance, reduced maintenance cost, faster commissioning, and improved flow rates. Spoolable pipes are used in the high-pressure applications in onshore, offshore, and downhole. They have gained a significant acceptance over a period of time and have been replacing steel pipes in the high-pressure applications. Spoolable pipes can be made up to the length of 600 meters to 3,000 meters with fewer joints in between.

Spoolable pipes are mainly composed of three materials. The first material is HDPE (High-Density Polyethylene) which is used in the inner layer of the pipe. It has good erosion and corrosion resistance, impact resistance, and has a successful track record in the low-pressure oil & gas applications. The second material is used as reinforcement, which allows the pipe to handle higher pressure. Steel bands or cords, braided polyester, glass fiber, aramid fiber, and carbon fiber can be used as the reinforcement material depending on the manufacturers. The third and final material is extruded HDPE that is used in the outer layer of the pipe with the purpose of providing protection to the pipe during the installation.

The market is segmented based on the reinforcement type as Fiber Reinforcement and Steel Reinforcement. The fiber reinforcement segment is further divided into glass fiber reinforcement, carbon fiber reinforcement, and others. Others mainly include aramid and polyester reinforcements. Fiber-reinforced spoolable pipe is likely to gain more market traction in the coming years and it will continue to replace steel pipes in high-pressure applications.

Based on the application type, onshore is expected to remain the growth engine of the market during the forecast period. All the major onshore applications, such as production and gathering lines and injection lines, are likely to generate a healthy demand for spoolable pipes over the next five years.

Based on the diameter type, small diameter pipe is projected to remain the largest segment of spoolable pipes during the forecast period. All the major players are primarily supplying small-diameter pipes targeting all the major applications. Large-diameter pipe is also likely to exhibit a healthy growth in the same period.

Based on regions, North America is expected to remain the growth engine of the market during the forecast period. The region is likely to witness the highest growth in the same period, driven by early sign of the recovery of wells or rigs count and increasing penetration of spoolable pipes. All the leading spoolable pipe makers, such as National Oilwell Varco Inc. (Fiberspar), Shawcor Limited (Flexpipe), and Flexsteel Pipeline Technologies, Inc., are headquartered in North America.

The supply chain of this market comprises raw material manufacturers, spoolable pipe manufacturers, distributors, drilling contractors, EPC contractors, and operators (oil & gas companies). The key EPC contractors are Fluor Corporation, Bechtel, McDermott, and CB&I and the key oil & gas companies are Shell, ExxonMobil, Chevron, and ConocoPhillips.

The key spoolable pipe manufacturers are National Oilwell Varco Inc., Shawcor Limited; Pipelife International; Flexsteel Pipeline Technologies, Inc.; Polyflow, LLC; Aerosun Corporation; Hebei Heng An Tai Pipeline Co., Ltd.; Changchun Gao Xiang Special Pipe Co., LTD.; Magma Global Ltd.; Airborne Oil & Gas BV; and Cosmoplast Industrial Company LLC. Regional expansion, new product development, and collaboration with customers are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

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