Spoolable Pipes Market 2023-2028 Share, Latest Trends, Global Demand and Forecast Report by IMARC Group

IMARC Group, a leading market research company, has recently releases a report titled "Spoolable Pipes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Spoolable Pipes Market?

The global spoolable pipes market size reached US$ 1.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

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What are spoolable pipes?

Spoolable pipes are a lightweight and durable piping system that facilitates the transportation of fluids. They are usually made from composite materials, such as reinforced thermoplastics or thermosetting polymers. They are characterized by their high flexibility, allowing them to be wound onto spools for transportation and easily installed in challenging and curved terrains. They exhibit excellent resistance to corrosion and can withstand a wide range of chemicals, making them suitable for transporting several fluids. They are lighter than traditional steel pipes, reducing transportation costs and simplifying installation. They require minimal maintenance, contributing to cost savings over their lifecycle. They reduce installation and transportation costs and require less heavy equipment during installation. They are widely used for well intervention, production, and transport of hydrocarbons, including offshore and subsea applications. They are also employed in water and wastewater pipelines for their resistance to environmental factors and ability to handle varying water quality.

What are the growth prospects and trends in the spoolable pipes industry?

The escalating demand for cost-effective and durable piping solutions across different industry verticals represents one of the primary factors influencing the market positively. Apart from this, the growing emphasis on sustainability is offering a favorable market outlook. Spoolable pipes are inherently corrosion-resistant, reducing the need for protective coatings that can be harmful to the environment.

Additionally, their lightweight nature reduces transportation-related carbon emissions, aligning with global efforts to reduce the carbon footprint. Furthermore, technological advancements in materials and manufacturing processes are strengthening the growth of the market. Innovations in composite materials, such as reinforced thermoplastics and thermosetting polymers, are resulting in spoolable pipes with superior mechanical properties, including higher tensile strength and corrosion resistance.

These developments enable the pipes to withstand the harshest conditions, like aggressive chemicals and extreme temperatures, thereby expanding their applicability across various industries. Additionally, the ongoing global infrastructure development is driving the demand for spoolable pipes in applications across multiple sectors.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Matrix Type:
• Thermoplastics
• Thermosets

Breakup by Reinforcement Type:
• Glass Fiber-Reinforced Spoolable Pipe
• Carbon Fiber-Reinforced Spoolable Pipe
• Steel-Reinforced Spoolable Pipe
• Others

Breakup by Application:
• Onshore
• Offshore
• Downhole
• Others

Breakup by Sales Channel:
• Direct Sales
• Distributors

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Some of the Top Key players in the Spoolable Pipes Market

Baker Hughes Company, FlexSteel Pipeline Technologies Inc., Future Pipe Industries, Hebei Heng An Tai Pipeline Co. Ltd, Magma Global Ltd. (TechnipFMC plc), NOV Inc., Pipelife International Gmbh (Wienerberger AG), Shawcor Ltd., Smartpipe Technologies and Strohm B.V.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.