Flexible Pipe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Flexible Pipe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global flexible pipe market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.

A flexible pipe has a composite construction of layers of various materials that enable large amplitude deflections without causing damage to the pipe. It comprises leakproof thermoplastic barriers and corrosion-resistant steel wires, which gives the pipe high-pressure resistance, flexibility, and superior dynamic behavior. It eases spooling on reels for quick transportation, reduces time and technical ease of installation, and offers seabed accommodation and capacity for reuse. As a result, it finds extensive applications in the oil and gas, chemical, power generation, and water treatment industries across the globe.

Flexible Pipe Market Trends:

At present, there is a rise in exploration activities around the world due to the increasing demand for energy and improved metals. This, along with the growing use of non-corrosive pipes in the oil and gas industry, represents one of the key factors driving the market. Moreover, the increasing utilization of flexible pipes in horizontal drilling and lateral drilling for boring new reservoirs, is stimulating the growth of the market. In addition, technological advances in different drilling process that enable access to remote locations, unconventional formations, and deep-water regions are positively influencing the market. Besides this, the escalating demand for petroleum in the transport sector due to the rising number of passenger cars worldwide is offering lucrative growth opportunities to key market players. Additionally, as it offers high-durability and heat resistant properties, there is an increase in the employment of flexible pipes in transferring gases or hot liquids. Apart from this, the rising adoption of engineering-grade flexible materials in offshore and onshore activities due to their low weight and high tensile strength is propelling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global flexible pipe market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on raw material, application and end use industry.

Breakup by Raw Material:

High-density Polyethylene
Polyamide
Polyvinylidene Fluoride
Others

Breakup by Application:

Onshore
Offshore

Breakup by End Use Industry:

Oil and Gas
Water Treatment Plants
Chemical and Petrochemicals
Mining
Pharmaceuticals
Food and Beverages
Others

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, Chevron Phillips Chemical Company LLC, Continental AG, DuPont de Nemours Inc., Evonik Industries AG, FlexSteel Pipeline Technologies Inc., General Electric Company, NOV Inc., Pipelife Nederland B.V. (Wienerberger AG), Prysmian S.p.A., Shell plc, Solvay S.A., Strohm B.V. and TechnipFMC plc.

Key Questions Answered in This Report:


What was the size of the global flexible pipe market in 2022?
What is the expected growth rate of the global flexible pipe market during 2023-2028?
What are the key factors driving the global flexible pipe market?
What has been the impact of COVID-19 on the global flexible pipe market?
What is the breakup of the global flexible pipe market based on the raw material?
What is the breakup of the global flexible pipe market based on the application?
What are the key regions in the global flexible pipe market?
Who are the key players/companies in the global flexible pipe market?