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Spoolable Pipe Market - Latest Trends, Forecast, and Opportunity Analysis

 


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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 spoolable pipe 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 spoolable pipe 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.

Insights By Reinforcement Type:

The fiber reinforcement segment is further divided into glass fiber reinforcement, carbon fiber reinforcement, and others. Others mainly include aramid and polyester reinforcements. The 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.

Insights By Application Type:

Onshore is expected to remain the growth engine of the global spoolable pipe 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.

Insights By Diameter Type:

The 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. The large-diameter pipe is also likely to exhibit a healthy growth during the same period.

Insights By Region:

North America is expected to remain the growth engine of the spoolable pipe market during the forecast period. The region is likely to witness the highest growth during the forecast period, driven by an early sign of the recovery of wells or rigs count and increasing penetration of spoolable pipes.

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.

Source - https://stratviewresearch.com/142/spoolable-pipe-market.html

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