According to the latest report by IMARC Group, titled “Global Flexible Pipe Market Share, Size, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global flexible pipe market reached a value of US$ 1.15 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.5 Billion by 2027, exhibiting a CAGR of 4.20% during 2022-2027.
A flexible pipe is made up of layers of various materials that enable deflections without causing damage to the pipe. It comprises leak-proof thermoplastic barriers and corrosion-resistant steel wires, which gives the pipe flexibility, and superior dynamic behavior. It can also withstand high temperature and pressure conditions and simplify the installation process. As a result, flexible pipes are widely utilized in the oil and gas, chemical, power generation, and water treatment industries to transfer liquids and fluids.
Base Year: 2021
Forecast Year: 2022-2027
Flexible Pipe Market Trends and Drivers:
The market is primarily driven by the rising exploration activities due to the increasing demand for energy and improved metals across the globe. In addition, the growing adoption of non-corrosive pipes in the oil and gas industry represents another major growth-inducing factor.
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Besides this, the rising sales of passenger cars have led to an escalating demand for petroleum in the transport sector. This, coupled with the significant employment of flexible pipes in transferring gases or hot liquids owing to their high durability, leak- and heat resistance, and pressure control properties, is positively influencing the market growth.
Moreover, the widespread adoption of flexible pipes in horizontal and lateral drilling for boring new reservoirs is also creating a favorable market outlook across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flexible Pipe Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Baker Hughes Company, Chevron Phillips Chemical Company LLC, Continental AG, DuPont de Nemours Inc., Evonik Industries AG, FlexSteel Pipeline Technologies Inc., General Electric Company, NOV Inc., Pipelife Nederland B.V. (Wienerberger AG), Prysmian S.p.A., Shell plc, Solvay S.A., Strohm B.V. and TechnipFMC plc.
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The report has segmented the market on the basis of region, raw material, application and end use industry.
Breakup by Raw Material:
• High-density Polyethylene
• Polyvinylidene Fluoride
Breakup by Application:
Breakup by End Use Industry:
• Oil and Gas
• Water Treatment Plants
• Chemical and Petrochemicals
• Food and Beverages
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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