Flexible Pipes Market for Oil and Gas by 2024- Size and Analysis

Posted by Ritu on November 11th, 2020

The flexible pipes market size for oil and gas has the potential to grow by USD 123.54 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

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This report provides a detailed analysis of the market by type (HDPE, PA, PVDF, and others), application (offshore and onshore), and geography (North America, MEA, South America, APAC, and Europe). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Airborne Oil & Gas BV, Continental AG, FlexSteel Pipeline Technologies Inc., General Electric Co., MAGMA GLOBAL Ltd., National Oilwell Varco Inc., Prysmian Spa, Shawcor Ltd., TechnipFMC Plc, and Wienerberger AG.

Who are the Major Flexible Pipes Vendors for Oil and Gas?
The market is fragmented. The international players dominate this market owing to their capacity to expand their reach through strong distribution channels. These vendors have large product portfolios, well-established brand names, and better supply chain management, which help them to deliver their products with less turnaround time to oil and gas exploration companies. On the other hand, the local vendors face a tough challenge from the global vendors in terms of price, customer base, product portfolio, quality, transportation, and technology.  Also, these vendors are inefficient in meeting customer specifications as compared to key market vendors. Airborne Oil & Gas BV, Continental AG, and FlexSteel Pipeline Technologies Inc. are some of the major market participants. Although the rising investment in upstream oil and gas activity will offer immense growth opportunities, the declining crude oil prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this flexible pipes market for the oil and gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this flexible pipes market for the oil and gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

Airborne Oil & Gas BV
Continental AG
FlexSteel Pipeline Technologies Inc.
General Electric Co.
MAGMA GLOBAL Ltd.
National Oilwell Varco Inc.
Prysmian Spa
Shawcor Ltd.
TechnipFMC Plc
Wienerberger AG
Which are the Key Markets for Flexible Pipes for Oil and Gas?

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MEA was the largest flexible pipes market for oil and gas in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as technological advancements in horizontal and pad drilling and the abundance of shale oil and gas reserves will significantly drive flexible pipes market growth for oil and gas in this region over the forecast period.

44% of the market’s growth will originate from MEA during the forecast period. Saudi Arabia, Iran, and the UAE are the key markets for flexible pipes for the oil and gas industry in MEA. Market growth in this region will be slower than the growth of the market in APAC and South America.

HDPE pipes have the highest consumption in most oil and gas activities because they are strong, tough, flexible, and easy to install as compared to other types. They are corrosion-free and can be easily welded by butt fusion or electrofusion couplers to confirm a total leak proof network. The consumption of HDPE pipes will increase in the coming years due to the rising number of offshore contracts being given to drilling companies in search of more oil.

Market growth in this segment will be slower than the growth of the market in the PA and PVDF segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the flexible pipes market for oil and gas market size.

How will the Rising Investments in Upstream Oil and Gas E&P Activity Influence Flexible Pipes Market Growth for Oil and Gas?
Rising investments in upstream oil and gas activity is one of the major factors driving the market growth. Advances in manufacturing processes, technological innovations, and installation of flexible pipes are resulting in the rapid growth in deepwater exploration. This will subsequently boost flexible pipes market growth. Polymers of flexible pipes, such as PE, PA, PVDF, PP, and PEEK are primarily used in deepwater drilling and exploration processes to prevent damage caused by corrosion and moisture. Additionally, flexible pipes are also used as chemical injection pipes and risers for deepwater applications. Properties, such as wear- and corrosion-resistance, rigidness, and ability to withstand changes in temperature and deformation caused by stress make these pipes highly effective in deepwater applications. Furthermore, energy security is becoming a critical factor in most countries, owing to population growth and rapid industrialization. Therefore, many countries are exploring untapped oil and gas resources using advanced technologies. Moreover, the production of oil and natural gas from conventional oilfields is declining. To address this issue and maximize the revenue from such oilfields, oil and gas operators are increasing their investments in mature oil and gas fields.

The growing acceptance of engineering-grade flexible materials, such as polyether ether ketone (PEEK) and polyvinylidene fluoride (PVDF), is also driving the adoption of flexible pipes in the oil and gas industry. These flexible materials have high chemical, corrosion, and wear-resistance, low weight, and mechanical properties, which have made them a viable alternative for various applications in the oil and gas industry. Several vendors in the oil and gas industry are using flexible composites to manufacture coiled tubing, risers, and umbilical. The use of engineering-grade flexible materials has augmented the demand for high-performance flexible pipes as they are cost-effective and more efficient than steel pipes. Additionally, innovations in drilling technologies in oil and gas exploration have also boosted the demand for these non-corrosive flexible pipes. As a result of such factors, the flexible pipes market for the oil and gas industry will register a CAGR of over 2% by 2024.