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What key factors are powering the surge in the spoolable pipes market right now?

In the last few years, the market size for spoolable pipes has experienced robust growth. The market is projected to enlarge from $1.63 billion in 2024 to reach $1.72 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. Contributing factors to the previous period’s growth can be traced back to the demand from the oil and gas industry, progress in composite materials, expansion of pipeline infrastructure, increase in exploration and production activities, as well as cost and time efficiency.

How fast Is the spoolable pipes market expected to grow, and what’s its future value?

The market for spoolable pipes is anticipated to experience robust expansion in the coming years, with projections suggesting a rise to $2.19 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.1%. The projected growth within this period is linked to numerous factors such as the surge in energy infrastructure development, the escalating need for flexible pipeline solutions, emphasis on environmental conservation, infrastructural growth in developing regions, and a rise in offshore and subsea applications. Key trends to watch within the forecast period include advancements in manufacturing processes, an upswing in renewable energy projects, an increase in usage within water management systems, a growing preference for lightweight, flexible pipes, and an emphasis on pipeline safety and trustworthiness.

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What are the leading drivers of growth in the spoolable pipes market?

The anticipated rise in oil and gas consumption is predicted to fuel the spoolable pipes market’s growth. Oil and gas, primarily utilized for energy and industrial purposes, are fossil fuels procured from beneath the Earth’s crust. The necessity for these resources in transport, heating, power generation, industrial expansion, population growth, urban development, and petrochemical demand sparks their escalating demand. Spoolable pipes play a critical role in the drilling, storage, and transportation systems for oil and gas production. Their impressive strength-to-weight ratio, resistance to chemicals and paraffin buildup make them dependable choices for transporting hydrocarbons, refined fuels, and chemical products. For instance, the U.S. Energy Information Administration (EIA) announced in April 2024 that the electric power sector noticed the most prominent surge in natural gas usage among U.S. economic sectors in 2023. This increase was by 7%, equating to a rise of 2.2 billion cubic feet per day (Bcf/d), inflating the total from 33.2 Bcf/d in 2022 to an unprecedented peak of 35.4 Bcf/d. Consequently, the growing requirement for oil and gas is expected to boost the spoolable pipes market’s growth.

What are the key segments defining the spoolable pipes market?

The spoolable pipes market covered in this report is segmented –

1) By Matrix: Thermoplastics, Thermosets

2) By Reinforcements: Glass Fiber Reinforcement, Carbon Fiber Reinforcement, Steel Reinforcement

3) By Sales: Direct Sales, Distributors

4) By Application: On-Shore, Off-Shore, Downhole

Subsegments:

1) By Thermoplastics: Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Other Thermoplastics

2) By Thermosets: Epoxy, Polyester, Vinyl Ester, Other Thermosets (Nylon, PVDF)

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Who are the key players steering the development of the spoolable pipes market?

Major companies operating in the spoolable pipes market are Shawcor Ltd., National Oilwell Varco Inc., Pipeline International GmbH, Baker Hughes Company, Future Pipe Industries LLC, Polyflow LLC, Airborne Oil & Gas B.V., Magma Global Ltd., Smartpipe Technologies Limited, Strohm B.V., Changchun Gaoxiang Special Pipes Co. Ltd., Flexpipe Inc., Fibron Pipe GmbH, Belco Manufacturing Company, Hebei Heng An Tai Pipeline Co. Ltd., Hebei Shengtian Pipe-Fitting Group Co. Ltd., Hebei Yanshan Yonghui Steel Pipe Co. Ltd., Hebei Zhonghai Steel Pipe Manufacturing Corporation, JFE Steel Corporation, NOV Fiber Glass Systems, Pipelife Nederland B.V., PolyPipe Inc., SoluForce GmbH, Spoolable Pipe Specialists LLC, Titeflex Corporation, TUBAOCEAN Offshore Engineering Co. Ltd., ZCL Composites Inc., Zhejiang Jiuli Hi-Tech Metals Co. Ltd.

What emerging trends are influencing the growth of the spoolable pipes market?

Companies at the forefront of the spoolable pipe market are concentrating on the innovation of products like thermoplastic composite flexible pipes. These pipes are renowned for their superior durability, resistance to corrosion, and flexibility across various applications. Constructed from thermoplastic materials and composite reinforcements, these lightweight yet robust pipes frame flexible and harsh condition-resistant piping systems. They have wide use in sectors like oil and gas, water management, and construction. To illustrate, DNV, a company based in Norway, introduced the DNV-ST-F207 standard in May 2024. This standard was established to encourage the use of Hybrid Thermoplastic Composite Flexible Pipes (TCPs) in deepwater applications. It deals with high-tension and corrosive issues while fostering the use of upgraded materials like carbon fiber armor to improve safety and efficiency in offshore projects.

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Which regions are most influential in expanding the spoolable pipes market?

North America was the largest region in the spoolable pipes market share in 2024. The regions covered in the spoolable pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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