Global Spoolable Pipes Market: About this market
Technavio’s spoolable pipes market analysis considers sales from thermoplastic and thermoset matrix types. Our analysis also considers the sales of spoolable pipes in APAC, Europe, North America, South America, and MEA. In 2018, the thermoplastic segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the corrosion-resistance of thermoplastic pipes will play a significant role in the thermoplastic segment to maintain its market position. Also, our global spoolable pipes market report looks at factors such as the advantages of spoolable pipes over traditional metallic pipes, increasing demand in oil and gas industry, and pipe-in-pipe installation capability of spoolable pipes. However, fragility of spoolable pipes, threat of substitutes, and stringent government regulations may hamper the growth of the spoolable pipes industry over the forecast period.
Global Spoolable Pipes Market: Overview
Pipe-in-pipe installation capability of spoolable pipes
Spoolable pipes come in different diameters and can thus be installed inside existing metallic carrier pipelines, which get worn out or are in poor condition due to corrosion. This method of installing a spoolable pipe inside an existing pipe is called slip lining or freestanding pipe-in-pipe method. This method is less expensive than a conventional pipe replacement or an internal pipe inspection method, such as pigging. Thus, pipe-in-pipe technology is widely accepted in the oil and gas industry, specifically in offshore fields because the replacement of pipes in offshore platforms is an extremely challenging task. The pipe-in-pipe installation capability of spoolable pipes also offers environmental advantages. Such benefits will boost the demand for low spoolable pipes and lead to the expansion of the global spoolable pipes market at a CAGR of over 6% during the forecast period.
Increasing ultra-deep drilling activities
The oil and gas industry is engaged in various natural gas exploration and production activities using well-developed technologies. However, performing ultra-deep drilling activities is challenging. This is encouraging them to upgrade its pipeline systems, including transportation pipelines, injection lines, and production flowlines. Consequently, the demand for spoolable thermoplastic pipes is increasing to carry out ultra-deep drilling and oil and gas extraction, storage, and transportation. Many major industry players are investing resources to fabricate and manufacture high-performance spoolable pipes that can be used in deep-water offshore platforms. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global spoolable pipes market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global spoolable pipes market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading spoolable pipes manufacturers, that include Airborne Oil & Gas BV, FlexSteel Pipeline Technologies Inc., Future Pipe Industries, Magma Global Ltd., National Oilwell Varco Inc., PES.TEC, Pipelife International GmbH, Polyflow LLC, Shawcor Ltd., and Victrex Plc.
Also, the spoolable pipes market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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