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Global Flexible Pipes Market to Reach About USD 1,145.6 Million by 2026, Aided by the Robust Growth of the Oil and Gas Industry

According to a new report by EMR titled, ‘Global Flexible Pipes Market Report and Forecast 2021-2026’, the global market for flexible pipes attained a value of about USD 871.2 million in 2020. The industry is further expected to grow at a CAGR of 4.67% in the forecast period of 2021-2026 to reach a value of approximately USD 1,145.6 million by 2026.

North America holds a significant share of the flexible pipes owing to the robust growth of the oil and gas industry in the region. As the United States is one of the largest oil producers in the world, the demand for flexible pipes for their efficient transportation is surging, hence propelling the market growth. Moreover, the rising demand for alternative fuels in the region, owing to the introduction of stringent government regulations and the growing environmental consciousness in the region, is surging the deployment of flexible pipes. The cost-effectiveness offered by flexible pipes is further increasing their use in both onshore and offshore applications in the oil and gas industry, which is providing further impetus to the industry growth.

Baker Hughes Company (NYSE: BKR), one of the leading companies in the market, announced the launch of the Onshore Composite Flexible Pipe in January 2021. This pipe addresses high prices and challenges associated with corrosion faced by the deployment of steel pipes in the gas, oil, and industrial sectors. The pipe is made up of flexible and lightweight reinforced thermoplastic pipe (RTP), which provides an eco-friendly and cost-effective pipeline network for optimising the flowline’s core structure in the oil and gas industry. Moreover, the pipe reduces installation costs by 20% while decreasing the demand for skilled labours and heavy machinery. Its non-corrosive materials can withstand contaminants, which make them ideal for the transportation of gases, such as hydrogen and carbon dioxide. The development of such innovative flexible pipes is expected to increase their demand and augment the growth of the market in the forecast period.

Market Analysis by Raw Material, Application, and Region:

  • The market, on the basis of raw material, can be divided into high-density polyethylene, polyamide, and polyvinylidene fluoride, among others.
  • Based on application, the industry can be divided into onshore and offshore.
  • The regional markets for flexible pipes include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for flexible pipes as a substitute for conventional pipes owing to the increasing prevalence of pipe failure and leakage is propelling the industry growth.
  • The market is being aided by the extensive use of flexible pipes in the oil and gas industry, owing to their corrosion resistivity and cost-effectiveness.
  • The development of flexible pipes offering enhanced efficiency and functionality while minimising the installation costs is augmenting the market growth.
  • The rising deployment of flexible pipes in industrial applications to detect possible hazards is driving the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for flexible pipes for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the raw materials, applications, and major regions of flexible pipes.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global flexible pipes market are National Oilwell Varco, Inc., Baker Hughes Company, Magma Global Ltd., FlexSteel Pipeline Technologies, Inc., and Shawcor Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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