Driven by cost competitiveness of spoolable pipes over steel pipes, North American Spoolable Pipe Market is expected to grow beyond US$ 650.1 million

Market & Growth Prognosis: Analyzing the market over a period of 2011-16 Stratview Research goes to the crux of the issues shaping the market and estimates the most probable future growth rate for the North American Spoolable Pipe Market during the period 2017-22.

Stratview Research triangulates the market to grow at a healthy CAGR over the next five years and expects the market to breach the barrier of US$ 650.1 million by 2022.

The Diverse Stand Points

The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Spoolable Pipe in North America has been viewing from various perspectives such as:

Dissection By (Segments)
1. Reinforcement Type (Fiber Reinforcement, Steel Reinforcement)
2. Product Type (Spoolable Composite Pipe, Reinforced Thermoplastic Pipe)
3. Application Type (Onshore Applications, Offshore Application, Water, Others)
4. Diameter Type (Small Diameter Pipe, Large Diameter Pipe)
5. User Type (Operator, EPC Contractor, Drilling Contractor, Others)
6. Sales Channel Type (Direct Sales, Distributors)
7. By Region (The USA, Canada, Mexico)

Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.

The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?

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The Factors Driving the market

The North American spoolable pipe market offers a healthy growth opportunity for the entire ecosystem and is projected to reach US$ 650.1 million in 2022. The spoolable pipe 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 spoolable pipe 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 spoolable pipe. It has a 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 reinforcement material depending on the manufacturers. The third and final pipe material is extruded HDPE that is used in the outer layer of pipe with the purpose of providing protection to the pipe during the installation.

About eight to ten years back, the usage of spoolable pipes in high-pressure applications was at a nascent stage in the North American oil & gas industry. Since then, there has been a transformation in the acceptance of spoolable pipes in the regional oil & gas industry. North America has been the pioneer in the usage of the spoolable pipes.

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