Spoolable Pipe Market by Reinforcement Type (Fiber Reinforcement and Steel Reinforcement), by Product Type (Spoolable Composite Pipe and Reinforced Thermoplastic Pipe), by Application Type (Onshore, Offshore, Downhole, Water, and Others), by Diameter Type (Small Diameter and Large Diameter), by User Type (Operator, EPC Contractor, Drilling Contractor, and Others), by Sales Channel Type (Direct Sales and Distributors), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023
This report, from Stratview Research, studies the spoolable pipe market over the trend period of 2012 to 2017 and the forecast period of 2018 to 2023. 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 Pipe Market: Highlights
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.
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.
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.
Based on the diameter type, small diameter pipe is projected to remain the largest segment of spoolable pipes during the forecast period. All the major players are primarily supplying small-diameter pipes targeting all the major applications. Large-diameter pipe is also likely to exhibit a healthy growth in the same period.
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.
The supply chain of this market comprises raw material manufacturers, spoolable 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 pipe manufacturers are National Oilwell Varco Inc., Shawcor Limited; Pipelife International; Flexsteel Pipeline Technologies, Inc.; Polyflow, LLC; Aerosun Corporation; Hebei Heng An Tai Pipeline Co., Ltd.; Changchun Gao Xiang Special Pipe Co., LTD.; Magma Global Ltd.; Airborne Oil & Gas BV; and Cosmoplast Industrial Company LLC. Regional expansion, new product development, and collaboration with customers are the key strategies adopted by the major 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 the 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 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:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors
The global spoolable pipe market is segmented into the following categories:
Spoolable Pipe Market by Reinforcement Type:
Spoolable Pipe Market by Product Type:
Spoolable Composite Pipe
Reinforced Thermoplastic Pipe
Spoolable Pipe Market by Application Type:
Production and Gathering Lines
Spoolable Pipe Market by Diameter Type:
Small Diameter Pipe
Large Diameter Pipe
Spoolable Pipe Market by User Type:
Spoolable Pipe Market by Sales Channel Type:
Spoolable Pipe Market by Region:
Rest of the World
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Further segmentation of North America into the USA, Canada, and Mexico
Current market segmentation of any one of the regions by application type
Custom Research: Stratview Research offers custom research services across sectors. .
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