Spoolable Pipes Market to Witness Heightened Revenue Growth During the Forecast Period

In the ever-evolving realm of industrial materials, a recent report by Allied Market Research sheds light on the dynamic landscape of spoolable pipes. This niche market, valued at $1,345 million in 2016, is poised to reach $2,107 million by 2023, riding a robust CAGR of 6.7% from 2017.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/2524

Spoolable pipes, those flexible conduits for the transportation of crude and refined petroleum products, are making waves in the industry. Comprising thermoplastics or thermosets with reinforcements of steel, fiber, or aluminum, these pipes boast strength, impact resistance, and durability. Their versatility shines in onshore, offshore, downhole, wastewater treatment, and mining applications.

Originally designed to combat corrosive conditions in above-ground onshore scenarios, spoolable pipes have found increased adoption in oil and gas transportation. The ease of installation and cost-effectiveness compared to traditional steel pipes contribute to optimizing production output and extending the productive life of fields.

While the onshore application dominates, the offshore sector holds promise with new discoveries in oil and gas fields. However, the market faces challenges such as high entry barriers for new players due to lengthy product approval cycles and stringent regulations governing design, construction, manufacturing, and operation of spoolable pipes.

In 2016, the onshore application took the revenue lead, growing at a CAGR of 7.1% from 2017 to 2023. The study also forecasts LAMEA to boast the highest CAGR of 7.3%, closely followed by Asia-Pacific. Thermoplastics matrix spoolable pipes claimed the highest market share in 2016 and are expected to grow at a significant CAGR of 6.8%. Fiber reinforcement, a key player in revenue generation, is also set to witness a noteworthy CAGR of 6.8%.

The geographical landscape sees the U.S. taking the lead in 2016, growing at a commendable CAGR of 6.3%. North America and LAMEA jointly contributed over four-fifths of the global market share in 2016, driven by increased exploration activities in response to rising energy demands.

The key players shaping the global spoolable pipes market include Airborne Oil & Gas B.V., Changchun Gaoxiang Special Pipes Co., Ltd., Flexpipe Inc., FlexSteel Pipeline Technologies, Inc., Future Pipe Industries (L.L.C.), Magma Global Limited, National Oilwell Varco, Inc., Pipelife International GmbH, Polyflow LLC, and Smartpipe Technologies. For those intrigued by the intricate details, the full report is accessible through Allied Market Research.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/spoolable-pipes-market

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