The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global spoolable pipes market is poised for growth, anticipating an increase from $1.49 billion in 2022 to $1.57 billion in 2023 at a commendable CAGR of 5.7%. Looking further ahead, the market is expected to reach $1.89 billion in 2027, boasting a steady CAGR of 4.6%. Let’s delve into the key drivers, trends, and innovations steering the evolution of the spoolable pipes market.

Fueling Growth: The Role of Oil and Gas Demand

• Spoolable pipes are indispensable in oil and gas production, drilling, storage, and transportation systems.
• Their strength-to-weight ratio, chemical resistance, and paraffin build-up resistance make them reliable for transporting hydrocarbons, refined fuels, and chemical products.
• The Australian petroleum industry witnessed a 2% increase in liquids output in 2020, according to a report by the Australian Petroleum Production and Exploration Association.
• A report by the Petroleum Planning & Analysis Cell revealed a 15.5% increase in petroleum product production in May 2021 over May 2020, emphasizing the growing demand for oil and gas.
• The surge in oil and gas demand is set to be a driving force behind the spoolable pipes market’s growth.

Key Players in the Market

• Industry leaders such as Shawcor Ltd., National Oilwell Varco, and Pipeline International Gmbh dominate the spoolable pipes market.
• These major players wield significant influence, shaping market dynamics and driving innovation.

Innovative Strides: Product Evolution as a Trend

• Product innovation is a key trend in the spoolable pipes market, with a focus on nonmetallic composite materials.
• Investments in nonmetallic composite materials are on the rise due to lower costs, reduced corrosion risks, and lower manufacturing emissions compared to traditional pipes.
• In January 2021, Baker Hughes launched a new composite flexible pipe for onshore pipelines, a cost-effective and environmentally friendly alternative to traditional steel pipes.
• The flexible, lightweight reinforced thermoplastic pipe (RTP) offers more than 20% savings on installation expenses, making it a compelling choice for the industry.
• These innovations underscore a commitment to sustainability and cost efficiency in the spoolable pipes market.

Market Segmentation: Diverse Matrix, Reinforcements, Applications, and Sales Approaches

• By Matrix: The spoolable pipes market is segmented into Thermoplastics and Thermosets.
• By Reinforcements: Glass Fiber Reinforcement, Carbon Fiber Reinforcement, and Steel Reinforcement offer diverse options catering to different needs.
• By Application: Spoolable pipes find applications On-shore, Off-shore, and Downhole, showcasing their versatility.
• By Sales: Direct Sales and Distributors represent varied sales approaches catering to different market dynamics.

Regional Dominance: North America Takes the Lead

• North America emerges as the largest region in the spoolable pipes market share in 2022.
• The region’s dominance highlights its pivotal role in steering the global growth of spoolable pipes.

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The Spoolable Pipes Global Market Report 2023  provides an overview of the spoolable pipes market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The spoolable pipes market forecast analyzes spoolable pipes market size, spoolable pipes market share, leading competitor and their market positions.

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