Spoolable Pipe Market size will shoot up to US$ 1,144.4 million by 2024, as estimated by Stratview Research

Stratview Research in its recent report has offered an overlook of the current Spoolable Pipe Market scenarios and has also estimated the Spoolable Pipe Market size to reach US$ 1,144.4 million by 2024. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.

Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2019 – 2024, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

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The global spoolable reinforced pipe market offers a healthy growth opportunity for the entire ecosystem and its size is projected to reach US$ 1,144.4 million in 2024. Spoolable reinforced pipe is also known as Thermoplastic Composite Pipe (TCP) and Reinforced Thermoplastic Pipe (RTP). 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 reinforced pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable reinforced pipe over steel ones in low-diameter pipes.

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 internal and external corrosion. Spoolable reinforced pipes offer excellent corrosion and erosion resistance properties, high fatigue resistance, reduced maintenance cost, faster commissioning, and improved flow rates. Spoolable reinforced 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 reinforced pipes can be made up to the length of 600 meters to 3,000 meters with fewer joints in between.

Spoolable reinforced 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 reinforced 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 the pipe with the purpose of providing protection to the pipe during the installation.

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

Based on the application type, the spoolable pipe market is segmented into Onshore, Offshore, Downhole, Water, and Others. The Onshore segment is further segmented into production and gathering lines, injection lines, disposal lines, and others. Similarly, the Offshore segment is further segmented into subsea flowlines, jumpers, and others. Onshore is expected to remain the growth engine of the spoolable reinforced pipe 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 reinforced pipes over the next five years.

Based on the diameter type, the spoolable pipe market is segmented into Small-Diameter Pipe and Large-Diameter Pipe. The small-diameter pipe is projected to remain the largest consumer of spoolable reinforced pipes during the forecast period. All the major players are supplying primarily small-diameter pipes targeting all the major applications. The large-diameter pipe is also likely to exhibit healthy growth during the same period.

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Highlights of the Report:

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

The report also throws light on the Spoolable Pipe Market share percentage, captured by specific key players in the industry; along with important mergers and acquisitions which have taken place till date.

Some of the key players mentioned the Spoolable Pipe Market are National Oilwell Varco Inc., Shawcor Limited; Pipelife International; Flexsteel Pipeline Technologies, Inc.; Polyflow, GHGE; Aerosun Corporation; Hebei Heng An Tai Pipeline Co., Ltd.; Changchun Gao Xiang Special Pipe Co., LTD.; Magma Global Ltd.; Airborne Oil & Gas BV; Cosmoplast Industrial Company LLC; and Pes. Tec.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The spoolable pipe market analysis report discusses the following heads in great detail:
• 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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