Spoolable Pipe Market estimated to grow at impressive CAGR in the forecast period (2018-2023)

Summary:
The report on the Spoolable Pipe Market by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2018-2023. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Spoolable Pipe Market is expected to inflate at impressive CAGR by the forecast period (2018– 2023).

As per the report, the market is segmented by:
• By Reinforcement Type: Fiber Reinforcement, Steel Reinforcement
• By Product Type: Spoolable Composite Pipe, Reinforced Thermoplastic Pipe
• By Application Type: Onshore Applications, Offshore Applications
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/142/spoolable-pipe-market.html

Highlights of the Report:

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.

Key Players of the Market

The market is consolidated in nature with five major players Aerosun Corporation, Airborne Oil & Gas BV, Changchun Gao Xiang special pipe co., LTD., Flexsteel Pipeline Technologies, Inc., Hebei Heng An Tai Pipeline Co., Ltd. holding together the major share in the market, with Aerosun Corporation being the key player.
Other important firms are Magma Global Ltd., National Oilwell Varco, Inc., Pipelife International (Soluforce), Polyflow LLC, Shawcor Limited (Flexpipe Systems Inc.).

Features of the Report

The Report discusses about the working of the spoolable pipes, the various types, and the growth of the spoolable pipes in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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This release was published on openPR.