WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- A new report by Allied Market Research titled "Spoolable Pipes Market by Matrix Type, Reinforcement Type, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023" reveals that the global spoolable pipes market, valued at $1,345 million in 2016, is projected to reach $2,107 million by 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2017 to 2023, with the onshore application leading the market, accounting for about five-ninths of the global revenue in 2016.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/2524

Market Overview:

Spoolable pipes are flexible pipelines designed to transport crude oil, refined petroleum, natural gas, and other fluids such as sewage, slurry, and water. These pipes, made from thermoplastics or thermosets with reinforcement materials like steel, fiber, or aluminum, offer enhanced durability due to their high strength, fatigue resistance, and impact endurance. The lightweight nature of thermoplastics and their design flexibility make them ideal for various applications, including onshore and offshore oil and gas transportation, waste water management, and mining.

Initially designed for aboveground onshore applications to replace steel lines in corrosive environments, spoolable pipes have seen growing adoption in the oil and gas industry. They are now used extensively in onshore and offshore transportation from wellheads to production facilities. Their ease of installation and lower cost compared to traditional steel pipes help reduce operational expenses and extend the productive life of oil and gas fields. However, stringent regulations, high product approval times, and significant entry barriers may impede market growth.

Key Insights:

- Onshore Application: The onshore application segment generated the highest revenue in 2016 and is expected to grow at a CAGR of 7.1% through 2023.
- Offshore Exploration Opportunities: New offshore oil and gas discoveries are creating opportunities for spoolable pipe manufacturers, further driving market growth.
- LAMEA Region: The LAMEA region (Latin America, Middle East, and Africa) is expected to witness the fastest growth, with a CAGR of 7.3% from 2017 to 2023, followed by the Asia-Pacific region.
- Thermoplastics Matrix: In 2016, thermoplastic matrix spoolable pipes held the largest market share and are projected to grow at a CAGR of 6.8%.
- Fiber Reinforcement: The fiber reinforcement segment accounted for the highest revenue in 2016 and is expected to continue growing at a significant rate.
- U.S. Market: The U.S. led the market in 2016, with a CAGR of 6.3%.
- Regional Growth: North America and LAMEA collectively accounted for over 80% of the global market share in 2016. The rise in onshore and offshore exploration activities, fueled by increased energy demand, is expected to sustain this growth trend.

Key Market Players

Leading companies in the spoolable pipes market include:

- Airborne Oil & Gas B.V.
- Changchun Gaoxiang Special Pipes Co., Ltd.
- Flexpipe Inc.
- FlexSteel Pipeline Technologies, Inc.
- Future Pipe Industries (L.L.C.)
- Magma Global Limited
- National Oilwell Varco, Inc.
- Pipelife International GmbH
- Polyflow LLC
- Smartpipe Technologies

These companies are focused on technological innovations, expanding offshore applications, and meeting stringent regulatory standards to stay competitive in this growing market.

Conclusion:

The global spoolable pipes market is poised for significant growth, driven by increased energy demand, technological advancements, and expanding oil and gas exploration activities. While challenges exist in terms of regulatory hurdles and high entry barriers, opportunities abound, particularly in regions like LAMEA and Asia-Pacific. The industry's focus on cost-effective, durable, and flexible piping solutions will continue to fuel its expansion through 2023.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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