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The Spoolable Pipe Market to experience an impressive growth to reach US$ 1,065.8 million during 2018-2023

05-23-2019 10:41 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

The Spoolable Pipe Market to experience an impressive growth

Addressing the most sought-after questions that occupy the minds of entrepreneurs and decision makers, the new report of "Stratview Research" on the Spoolable Pipe Market, answers all the important questions.

Getting to the bare bones of the issues and factors which are sculpturing the market, Stratview Research brings out the best actionable market intelligence for the global Spoolable Pipe Market.

The analysts have scrupulously studied the trend and cautiously forecasted the future market developments for 2018-2023.

The important questions the report answers are:
1. What will be the market growth rate in the near future?
2. What are the major developments in the market wrt regulations, acquisitions and innovations?
3. What are the growth drivers as well as the constraints?
4. What are the regional growth hotspots?
5. What are the segmental growth forecasts?

These questions and many more, big and small, are all discussed in the report in great detail.


The strategic Market dissection

The dissection of the market is done to enlighten the aspects which are of interest to firms across the value chain.

Dissection by
1. Reinforcement Type (Fiber Reinforcement, Glass Reinforcement, Carbon Reinforcement, Other Reinforcement, Steel Reinforcement)
2. Product Type (Spoolable Composite Pipe, Reinforced Thermoplastic Pipe)
3. Application Type (Onshore Applications, Offshore Applications, Water, Others)
4. Diameter Type (Small Diameter Pipe, Large Diameter Pipe)
5. User Type (Operators, EPC Contractors, Drilling Contractors, Others)
6. Sales Channel Type (Direct Sales, Distributers)
7. Region (North America, Europe, Asia-Pacific and Rest of the World)

Click here for detailed description:
https://www.stratviewresearch.com/142/spoolable-pipe-market.html

Get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/142/spoolable-pipe-market.html

The Growth Prognosis & its Drivers

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 Key players

The top players 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.
Other important firms are Fluor Corporation, Bechtel, McDermott, and CB&I and the key oil & gas companies are Shell, ExxonMobil, Chevron, and ConocoPhillips.

The undisputed Dominance of the North America

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.

Emerging Trends: 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.

Click Here for Other Reports from Stratview Research in the Oil & Gas Industry: https://www.stratviewresearch.com/market-reports/Oil-Gas.html

About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

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