Specialty Hoses Market Size, Share, Trend, and Forecast Analysis (2020-2025)
Specialty Hoses Market is Segmented By Media Type (Chemical, Gas, Oil, Water, and Others), By Inner Core Material Type (Nitrile Rubber, EPDM Rubber, Nylon, Polyester, and Others), By Application Type (In-Plant Transfer, LPG Delivery, Welding, Drainage Service, Hydraulic Service, Fire Fighting, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of The World)
The specialty hoses market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 2.3 billion in 2025. The key factors driving the market for specialty hoses are listed below.
On the basis of media type, the specialty hoses market is segmented into chemical, gas, oil, water, and others. The chemical segment is likely to remain the growth engine of the market during the forecast period. Expansion of chemical industry in terms of production, technological advancement; increasing penetration of specialty chemicals in paints, coatings, and additives; and development of new applications are the major factors driving the market for specialty hoses in the chemical segment.
Based on the inner core type, the market is segmented into nitrile rubber, EPDM rubber, nylon, polyester, and others. Nitrile rubber is expected to remain the dominant and the fastest-growing segment of the market during the forecast period. Specialty hoses with nitrile rubber as inner core are predominantly used in applications such as LPG delivery; conveyance of refrigerant gases and refrigerant systems; and delivery of gasoline, diesel, kerosene, and other fuels, owing to their excellent flexibility, ease of handling, and excellent resistance from oils, acids, fuels, and abrasion.
On the basis of application type, the specialty hoses market is segmented into in-plant transfer, LPG delivery, welding, drainage service, hydraulic service, firefighting, and others. The in-plant transfer is expected to remain the dominant application of the market during the forecast period, whereas LPG delivery is expected to be the fastest-growing segment during the same period. In-plant transfer application majorly includes conveyance of oil, chemical, refrigerant gas, hot and cold water, slurries, and bitumen.
In terms of region, Asia-Pacific is projected to remain the largest market for specialty hoses during the forecast period. Increasing chemical production and rising LPG demand are fuelling the growth of the specialty hoses market in the region. China and India are the growth engine of the region’s market. China is one of the largest producers of chemicals and petrochemicals across the world. China and India are also the largest importers of oil and fuel in the region. All these factors are contributing to the dominance of the region in the specialty hoses market.
China is the largest market for specialty hoses in the world, owing to the huge demand from its industrial and manufacturing sectors. This factor has led to the increased focus of industry players towards strengthening their roots in the region. For example; Continental AG has opened a new hose facility in China to meet the demand from the Chinese automotive industry. The company is also planning to build an R&D center at the facility dedicated to hose products only.
North America is projected to remain the second-largest market for specialty hoses during the forecast period. The USA is the growth engine of the region’s market, driven by large-scale production of oil and gas to meet the energy requirement of its industrial sector. Increasing shale gas activities in the USA and rising oil & fuel demand in Mexico and Canada are the major factors, driving the growth of the specialty hoses market in the region.
The supply chain of this market comprises of raw material suppliers, specialty hoses manufacturers, distributors, and end-users. The key players in the specialty hoses market are Eaton Corporation Plc, Parker-Hannifin Corporation, Continental AG, Alfagomma Spa, Polyhose India Pvt. Ltd., The Weir Group Plc, Baili Hose Co., Ltd., Diebolt & Company, Apache Inc., and Newage Industries, Inc. The development of lightweight, flexible, and durable specialty hoses; expansion in untapped and growing markets; and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s specialty hoses market realities as well as future possibilities for the forecast period of 2020 to 2025. After conducting a detailed study on composite hoses market and aerospace and defense hose and tube assemblies market, we have further expanded our research scope to specialty hoses market, another high-growth product in the hose family. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into 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:
Hoses are hollow flexible tubes, designed to convey different fluids or media from one point to another. Specialty hoses are a subset of industrial hoses, which are designed to perform specific tasks or are used for specific applications that other industrial hoses can’t perform. They are designed in such a manner that they can handle higher temperatures with flame resistance or have tough barriers to prevent permeation and contamination as per the requisite of the application.
Specialty hoses comprise of an inner core material that is reinforced with high-tensile helical wire (fiberglass, stainless steel, high-tensile synthetic textile, etc.) and is covered by a hose cover that provides additional resistance from abrasion and tear. The inner core material can also be constructed from elastomers and fluoropolymers to provide flexibility, heat resistance, durability, and ease of operations.
The specialty hoses market is segmented into the following categories.
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