Global Flexible Pipe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Flexible Pipe Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

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. The most common design of Flexible Pipe is an unbonded structure, in which each component forms a cylindrical layer, and the relative sliding between the layers makes the pipe flexible. Generally speaking, Flexible Pipe includes skeleton layer, inner lining layer, compressive armor layer, wear-resistant layer, tensile armor layer, thermal insulation layer and outer cladding layer.

Market Overview:

The latest research study on the global Flexible Pipe market finds that the global Flexible Pipe market reached a value of USD 1446.09 million in 2022. It’s expected that the market will achieve USD 1872.21 million by 2028, exhibiting a CAGR of 4.4% during the forecast period.

Drivers

Application of Flexible Pipe in Oil and Gas Industry
Oil and natural gas are the most important energy sources in the world. Its products support modern society, primarily powering the electric power industry, heating homes, fueling cars and airplanes, and fueling goods and people around the world. As an important energy source for a country's industrial development, oil resources are constantly developing and exploring new oil fields. Companies involved in oil and gas exploration and production scour the globe for raw material reservoirs and then drill to extract the material.
In the field of oil and gas, Flexible Pipe plays an important role. Compared with steel pipes, Flexible Pipe has a very low bending stiffness under the same tensile stiffness due to its multi-layer composite structure. Therefore, under the same pressure bearing capacity, the flexible pipe can have a smaller bending radius, thus increasing its ability to withstand large deformations caused by loads caused by sea currents, vortex-induced vibrations, pontoon movement and installation. At the same time, Flexible Pipe has fast installation speed and high safety and reliability. Flexible Pipe can be laid continuously, and the average laying speed can reach 500 meters per hour. In addition, Flexible Pipe can complete the connection of pipelines on land, so as to effectively guarantee the quality of its connection, so that its safety and reliability are high. These allow Flexible Pipe to improve operational efficiency in the oil and gas industry. Wide deployment of flexible pipes in the oil and gas industry is driving the market growth.

Challenges

High production technology for products used in the marine field
In offshore oil exploitation, the use of Flexible Pipe has the characteristics of good adaptability to seabed terrain, good anti-corrosion performance, easy laying and recyclability. However, Flexible Pipe is a composite pipe composed of various materials, involving many materials and complex production processes. At the same time, the environment used in the sea is harsh and the force is complicated. Therefore, in the process of product design, manufacturing, laying and operation, it is necessary to Focus on the following technical issues. First of all, Flexible Pipe has a multi-layer structure, and the manufacturing process of the hose is relatively complicated. The non-metallic layer is formed by extrusion molding, and the metal layer is formed by winding or crimping. The relevant equipment needs to be developed separately. Among them, for the polymer layer, whether the parameters such as temperature and humidity are properly controlled will directly affect the mechanical properties and life of the formed polymer layer. Generally speaking, the manufacturing process of products in this field is relatively complicated, which is one of the challenges faced by industry companies.
In general, the manufacture of marine Flexible Pipe is a highly specialized product that requires customized design based on the conditions of different oil and gas fields, involving material technology, design technology, process technology, joint technology, manufacturing technology, monitoring technology, Offshore construction technology, etc. The high technical requirements of the industry is one of the challenges and difficulties faced by the company.

Region Overview:

In 2021, the share of the Flexible Pipe market in Europe stood at 49.83%.

Company Overview

TechnipFMC is the most experienced provider of integrated solutions for subsea field developments based on a broad range of field-proven products and services. In the early 1970s, TechnipFMC pioneered flexible pipe technology and used it to provide clients with ever-higher levels of reliability and quality in the world’s harshest and deepest offshore environments.

Baker Hughes Incorporated is an energy technology company with a diversified portfolio of equipment and service capabilities across the energy and industrial value chains. Including four departments: oilfield services, oilfield equipment, turbomachinery and process solutions, and digital solutions. Wellstream Holdings plc designs and manufactures flexible piping systems for the oil and gas industry. In December 2010, shortly after GE agreed to buy Dresser, General Electric agreed to buy the company. In July 2017, Baker Hughes merged with GE Oil & Gas.

The Oilfield Services (OFS) department provides products and services for onshore and offshore operations throughout the life cycle of oil wells, including drilling, evaluation, completion, production, and intervention. This department includes designing and manufacturing products and providing services to help operators find, evaluate, drill and produce hydrocarbon product lines.
The Oilfield Equipment (OFE) department provides a broad portfolio of mission-critical products and services as the last line of defense during drilling and throughout the life cycle of the oilfield. These products and services are needed to facilitate the safe and reliable control and flow of hydrocarbons from wellheads to production facilities. The OFE product portfolio provides solutions for subsea, offshore ground and onshore operating environments. OFE designs and manufactures subsea and surface drilling and production systems, and provides a full range of services related to onshore and offshore drilling and production operations.

TechnipFMC is one of the major players operating in the Flexible Pipe market, holding a share of 22.71% in 2022.

Segmentation Overview:

It is divided into Onshore and Offshore according to the different application environments for which the product is suitable.

As for product types, the Offshore segment held the largest market share in 2021.

Application Overview:

According to different end application industries, it is divided into Oil and Gas, Water Treatment Plants, Chemical and Petrochemicals, Mining, etc.

By application, the Oil and Gas segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Flexible Pipe market covered in Chapter 3:

TechnipFMC plc
DuPont de Nemours Inc.
Strohm B.V.
General Electric Company
Continental AG
Solvay S.A.
Evonik Industries AG
Baker Hughes Company
Pipelife Nederland B.V. (Wienerberger AG)
Prysmian S.p.A.
FlexSteel Pipeline Technologies Inc.
Shell plc
NOV Inc.
Chevron Phillips Chemical Company LLC

In Chapter 4 and Chapter 14.2, on the basis of types, the Flexible Pipe market from 2018 to 2029 is primarily split into:

Onshore
Offshore

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Flexible Pipe market from 2018 to 2029 covers:

Oil and Gas
Water Treatment
Chemical & Petrochemicals
Mining
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)