Global Flexible Pipes Market Report and Forecast 2024-2032

Global Flexible Pipes Market Outlook

The global flexible pipes market attained a value of about USD 999.04 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.7% to reach nearly USD 1,506.49 million by 2032.

Rising Deployment of Flexible Pipes as a Substitute for Traditional Pipes Bolstering the Market Growth

The market for flexible pipes is being aided by the growing demand for flexible pipes as a substitute for traditional pipes. The rising prevalence of leakage and pipe failure are surging the deployment of flexible pipes to enhance the durability and flexibility of pipes in systems, hence bolstering the market growth. Moreover, the corrosion-resistant and high mechanical strength of flexible pipe make it ideal for piping systems to regulate pressure and prevent underground drainage. This is increasing the demand for flexible pipes in drainage systems in the residential, commercial, and industrial sectors, which is providing further impetus to the industry growth.

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The extensive deployment of flexible pipes in the oil and gas industry is fuelling the market growth. The simplified design and the ease of operation offered by flexible pipes make it suitable to enhance operational efficiency in the oil and gas industry. As flexible pipes can efficiently function in high pressures, vessel motions, and fluid pressure, they are widely used to standardise operation and installation systems. Moreover, the development of innovative, flexible pipes that can efficiently function in challenging operations that are often incurred in the oil and gas industry is projected to augment the industry growth. The rising demand for sustainable pipes is further escalating the adoption of flexible polyethylene pipes, hence driving the growth of the market.

Flexible Pipes: Industry Definition and Segmentation:

Flexible pipes are products that are made up of various layers and can be configured. They typically consist of thermoplastics barriers and steel wires to enhance corrosion resistance and mechanical strength of pipes. Flexible pipes can be modulated and customised in accordance with applications and find their major application in the oil and gas industry.

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The major raw materials of flexible pipes are:

• High-Density Polyethylene
• Polyamide
• Polyvinylidene fluoride
• Others

The market can be broadly categorised on the basis of its application segments into:

• Onshore
• Offshore

The EMR report looks into the regional markets of flexible pipes like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Development of Innovative Flexible Pipes to Invigorate the Growth of the Market

The development of innovative flexible pipes to enhance the efficiency and functionality of systems is significantly contributing to the market growth. They also boost the production of end use products while enhancing the durability of the piping systems. Moreover, innovative flexible piping systems ease the installation and operation, hence eliminating the requirement of skilled labour forces, which is augmenting the growth of the flexible pipes industry. As the reliability and durability of innovative flexible pipes boost the development of offshore fields, they are increasingly adopted by leading companies, which is expected to drive the market growth of flexible pipes.

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In addition, the lightweight and simple system of flexible pipes aid in reducing operational risk while increasing their cost-effectiveness. Moreover, the growing demand for products with enhanced safety owing to the introduction of various stringent governments’ regulations and rising safety concerns regarding workers’ health is surging the deployment of flexible pipes to detect possible assets, which is projected to propel the growth of the flexible pipes industry in upcoming years.

Key Industry Players in the Global Flexible Pipes Market

The report presents a detailed analysis of the following key players in the global flexible pipes market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• National Oilwell Varco, Inc.
• Baker Hughes Company
• Magma Global Ltd.
• FlexSteel Pipeline Technologies, Inc.
• Shawcor Ltd.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report