High Growth & Smooth Sailing of Spoolable Pipe Market, a US$ 1,065.8 million Opportunity
The Cutting-Edge Stratview Insights:
Stratview Research prognosticates the market to grow at a healthy CAGR over the next five years and expects the market to cross over of US$ 1,065.8 million mark by 2023.
The estimates are a result of market analysis over a period of 2012–17, Stratview Research goes to the depth of the issues shaping the market and estimates the most probable future growth rate for the Spoolable Pipe Market during the period 2018–23.
Identifying the Factors & Avenues of Growth
Tending to the most frequent questions and problems that consume the psyches of business visionaries and leaders, the new report of “Stratview Research” on the Spoolable Pipe Market responds to all the significant inquiries.
The global spoolable pipe market offers a healthy growth opportunity for the entire ecosystem and is projected to reach US$ 1,065.8 million in 2023. The market includes both spoolable composite pipe (SCP) and reinforced thermoplastic pipe (RTP). Despite the short-term fluctuations in the demand for spoolable pipes driven by decreasing rigs or wells count, the long-term business outlook seems promising with good growth potential over the next five years. An expected recovery in the rigs or wells count, cost competitiveness of spoolable pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable pipe over steel ones in small diameter pipes are the major factors that are proliferating the growth of the market.
Over 90% of the failures in pipes in the high-pressure applications are related to 6-inch diameter or smaller pipes. Most of the failures are due to the internal and external corrosion. Spoolable pipes offer excellent corrosion and erosion resistance properties, high fatigue resistance, reduced maintenance cost, faster commissioning, and improved flow rates. Spoolable pipes are used in the high-pressure applications in onshore, offshore, and downhole. They have gained a significant acceptance over a period of time and have been replacing steel pipes in the high-pressure applications. Spoolable pipes can be made up to the length of 600 meters to 3,000 meters with fewer joints in between.
Spoolable pipes are mainly composed of three materials. The first material is HDPE (High-Density Polyethylene) which is used in the inner layer of the pipe. It has good erosion and corrosion resistance, impact resistance, and has a successful track record in the low-pressure oil & gas applications. The second material is used as reinforcement, which allows the pipe to handle higher pressure. Steel bands or cords, braided polyester, glass fiber, aramid fiber, and carbon fiber can be used as the reinforcement material depending on the manufacturers. The third and final material is extruded HDPE that is used in the outer layer of the pipe with the purpose of providing protection to the pipe during the installation.
Unravelling the Critical Segments
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives a better understanding of the market.
It would mean a lot understand with clarity that the market has various parts and insights on them might be critical to many players.
The market of Spoolable Pipe has been divided into categories such as by Reinforcement Type, Product Type, Application Type, Diameter Type, User Type, Sales Channel Type, By Region. Insights on each segment can be of critical importance to any player.
Each segmented view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
● Which are the best performing segments of the market?
● Which is the most dominant region?
● Which material is the most promising?
● Who are the movers and shakers of the market?
● What are the regional growth hotspots?
● What are the segmental growth forecasts?
To get the feel of how our best in class, cutting-edge market research report feels, request a sample: https://www.stratviewresearch.com/Request-Sample/142/spoolable-pipe-market.html
Aerosun Corporation at the Helm
The top 5 players are Aerosun Corporation, Airborne Oil & Gas BV, Changchun Gao Xiang special pipe co., LTD., Flexsteel Pipeline Technologies, Inc., Hebei Heng An Tai Pipeline Co., Ltd.
Other important firms are Magma Global Ltd., National Oilwell Varco Inc. (Fiberspar), Pipelife International (Soluforce), Polyflow LLC, Shawcor Limited (Flexpipe Systems Inc.).
Emerging Trends:
Increasing Demand of Fiber-reinforced spoolable pipe
The market is segmented based on the reinforcement type as Fiber Reinforcement and Steel Reinforcement. The fiber reinforcement segment is further divided into glass fiber reinforcement, carbon fiber reinforcement, and others. Others mainly include aramid and polyester reinforcements. Fiber-reinforced spoolable pipe is likely to gain more market traction in the coming years and it will continue to replace steel pipes in high-pressure applications.
Onshore Application to be the Growth Engine
Based on the application type, onshore is expected to remain the growth engine of the market during the forecast period. All the major onshore applications, such as production and gathering lines and injection lines, are likely to generate a healthy demand for spoolable pipes over the next five years.
North America to be the Largest Market
Based on regions, North America is expected to remain the growth engine of the market during the forecast period. The region is likely to witness the highest growth in the same period, driven by early sign of the recovery of wells or rigs count and increasing penetration of spoolable pipes. All the leading spoolable pipe makers, such as National Oilwell Varco Inc. (Fiberspar), Shawcor Limited (Flexpipe), and Flexsteel Pipeline Technologies, Inc., are headquartered in North America.
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