Global Spoolable Pipes Market: Snapshot
Massive oil and gas exploration in the Middle Eastern nations, Saudi Arabia in particular, has spelt demand in the global spoolable pipes market. They are a secure way of transferring the oil produced from one place to another. This is because they are corrosion and temperature resistant. They are also inert, which means they do not react with chemicals easily.
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Not just in the Middle East, the spoolable pipes are also seeing their demand rise in Latin America because of the massive oil exploration and extraction activities in the region. Overall, they are being preferred over pipes made with other materials because of their numerous unique perceived benefits.
The following are the unique perceived benefits of spoolable pipes driving their uptake – resistance against temperature, corrosion, chemicals, pressure, and impact. Besides, the spoolable pipes are quite hassle free to install and do not require a lot of manpower both for deployment and maintenance. On the back of it, the global spoolable pipes market is predicted to rise steadily in the next couple of years.
The onshore and offshore oil and gas, mining, and waste water treatment industries are some of the main drivers of demand in the global spoolable pipes market.
Going forward, the global spoolable pipes market is set to rise further because of continued thrust by companies to build products using superior materials. To that end, they are seen expending both time and money into cutting edge research and development. All these, will likely also have an effect on the market dynamics. With new product launches, the course of the global spoolable pipes market would likely be reshaped frequently. The market would also rise with greater oil and gas exploration activities worldwide owing to new age technologies being leveraged for the same.
Global Spoolable Pipes Market: Overview
Spoolable pipes are typically reinforced composite pipes and generally consist of spoolable composite pipe (SCP) and reinforced thermoplastic pipe (RTP). Popular applications of this specialized pipeline are in the upstream oil and natural gas industry, typically in oil production installations for corrosive gathering and injection applications. A variety of reinforcement can be used such as high strength glass fibers that imparts remarkable corrosion resistance, marked flexibility, and high installation speed and re-usability. These pipes can withstand high temperatures to the tune of 203° F (95° C). The scores of features spoolable pipes display makes them preferable over conventional steel and carbon steel pipe lines in high pressure applications such as for flow lines in hydrocarbon production.
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Global Spoolable Pipes Market: Key Trends
The growing application of spoolable pipes for offshore, onshore oil and gas, and waste water treatment is driven by several advantages these have over traditional pipes made of steel and carbon. The cost-effectiveness of spoolable pipes is a notable aspect catalyzing their demand. World over, the rise in oil rig count is also favoring the expansion of the market. Key advantages of spoolable pipes include their high fatigue resistance, enhanced flow rates, and easy maintenance, with their adoption being facilitated by faster commissioning. The rising usage of fiber-reinforced spoolable pipe to supplant steel pipes in high-pressure applications in the oil and gas industry is propelling the growth of the market. The rising number of remediation of old or damaged pipelines is also bolstering the demand for spoilable pipes.
Global Spoolable Pipes Market: Market Potential
A growing number of manufacturers in developed countries of spoolable pipes are entering into joint ventures and collaborations to expand their manufacturing facilities in emerging markets. Flexpipe Systems, a leading manufacturer of spoolable composite pipe systems used in corrosion resistance and high-pressure applications in the oil and gas industry, has formed a joint venture with indigenous pipe installation company, with an aim to open manufacturing facilities in the Middle East. This joint venture will endow on the unit owned by Shawcor Ltd. the major ownership and will also enable it to meet the various end-user needs in Asia Pacific and North Africa. This venture will have a substantial bearing on the production capacity of spoolable composite systems.
In another similar industry development to bolster the supply of spoolable pipes in the oil and gas industry globally, Marubeni-Itochu Steel Inc. (Japan-based company) and Airborne Oil & Gas BV (Netherlands-based manufacturer) have inked a pact for the promotion and sale of the latter’s thermoplastic composite pipe (TCP) products, spoolable pipes. Such initiatives also augur well in bringing down the global cost of oil per barrel. The cooperation is expected to be at global scale and spoolable pipes will be have promising applications in brownfield and greenfield oil and gas projects.
Global Spoolable Pipes Market: Regional Outlook
The report offers a comprehensive insight into the outlook of various regional markets and highlights promising avenues in key regions. Developing regions are potentially attractive markets for spoolable pipes. Regions such as Asia Pacific, Latin America, the Middle East, and Africa are promising avenues with large untapped opportunities. The rapid strides being taken by technologies in oil and gas production in emerging economies makes these markets lucrative. Developed countries are also expected to rise at prominent pace in the global market on account of the presence of several prominent players in these regions.
Global Spoolable Pipes Market: Competitive Outlook
The study takes a critical assessment of the intensity of the competition and offers a detailed profiling of key players. Prominent names operating in the global spoolable pipes market may include Smartpipe Technologies, Pipelife International GmbH, Magma Global Limited, Future Pipe Industries (L.L.C.), FlexSteel Pipeline Technologies, Inc., Flexpipe Inc., Mxros Inc., National Oilwell Varco Inc., Airborne Oil & Gas B.V, and Spoolable Pipes.
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