Spoolable Pipe Market
This report, from Stratview Research, studies the global spoolable reinforced pipe market over the forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The Global Spoolable Reinforced Pipe Market: Highlights
The global spoolable reinforced pipe market offers a healthy growth opportunity for the entire ecosystem and is projected to reach US$ 1,144.4 million in 2024. Spoolable reinforced pipe is also known as Thermoplastic Composite Pipe (TCP) and Reinforced Thermoplastic Pipe (RTP). 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 reinforced pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable reinforced pipe over steel ones in low-diameter pipes,
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 internal and external corrosion. Spoolable reinforced pipes offer excellent corrosion and erosion resistance properties, high fatigue resistance, reduced maintenance cost, faster commissioning, and improved flow rates. Spoolable reinforced 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 reinforced pipes can be made up to the length of 600 meters to 3,000 meters with fewer joints in between.
Spoolable reinforced pipes are mainly composed of three materials. The first material is HDPE (High-Density Polyethylene), which is used in the inner layer of the spoolable reinforced pipe. It has a 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 reinforcement material depending on the manufacturers. The third and final pipe 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.
The spoolable reinforced pipe market is segmented based on reinforcement type as Fiber Reinforcement and Steel Reinforcement. Fiber reinforcement segment is further divided into glass fiber reinforcement, carbon fiber reinforcement, and others, which are mainly aramid and polyester reinforcements. The fiber-reinforced spoolable pipe is likely to gain more market traction in the coming years by replacing steel pipes in the high-pressure applications.
Based on the application type, the spoolable pipe market is segmented into Onshore, Offshore, Downhole, Water, and Others. The Onshore segment is further segmented into production and gathering lines, injection lines, disposal lines, and others. Similarly, the Offshore segment is further segmented into subsea flowlines, jumpers, and others. Onshore is expected to remain the growth engine of the spoolable reinforced pipe 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 reinforced pipes over the next five years.
Based on the diameter type, the spoolable pipe market is segmented into Small-Diameter Pipe and Large-Diameter Pipe. The small-diameter pipe is projected to remain the largest consumer of spoolable reinforced pipes during the forecast period. All the major players are supplying primarily small-diameter pipes targeting all the major applications. The large-diameter pipe is also likely to exhibit healthy growth during the same period.
In terms of regions, North America is expected to remain the growth engine of the spoolable reinforced pipe market during the forecast period. The region is likely to witness the highest growth during the forecast period, driven by the recovery of wells or rigs count and increasing penetration of spoolable reinforced pipes. All the leading spoolable reinforced pipe makers, such as National Oilwell Varco Inc. (Fiberspar), Shawcor Limited (Flexpipe), and Flexsteel Pipeline Technologies, Inc., are headquartered in North America.
The supply chain of this market comprises raw material manufacturers, spoolable reinforced pipe manufacturers, distributors, drilling contractors, EPC contractors, and operators (oil & gas companies). The key EPC contractors are Fluor Corporation, Bechtel, McDermott, and CB&I and the key oil & gas companies are Shell, ExxonMobil, Chevron, and ConocoPhillips.
The key spoolable reinforced pipe manufacturers are National Oilwell Varco Inc., Shawcor Limited; Pipelife International; Flexsteel Pipeline Technologies, Inc.; Polyflow, GHGE; Aerosun Corporation; Hebei Heng An Tai Pipeline Co., Ltd.; Changchun Gao Xiang Special Pipe Co., LTD.; Magma Global Ltd.; Airborne Oil & Gas BV; Cosmoplast Industrial Company LLC; and Pes. Tec. The regional expansion, new product development, and collaboration with customers are the key strategies adopted by the key players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. About 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The spoolable reinforced pipe market is segmented into the following categories.
Spoolable Reinforced Pipe Market by Reinforcement Type:
Spoolable Reinforced Pipe Market by Application Type:
Spoolable Reinforced Pipe Market by Diameter Type:
Spoolable Reinforced Pipe Market by User Type:
Spoolable Reinforced Pipe Market by Sales Channel Type:
Spoolable Reinforced Pipe Market by Region:
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