Flexible Pipes Market

Flexible Pipes Market Outlook (2023 to 2033)

In 2023, the global flexible pipes market size is likely to reach a valuation of US$ 1.3 billion. One compelling reason behind the growth is the increasing demand for durable and versatile piping solutions in various industries. Future Market Insights predicts that the market revenue has the potential to exceed US$ 2 billion by 2033, showcasing a CAGR of 4.8%.

Key Drivers Boosting the Demand for Flexible Pipes:

• The demand for flexible pipes as an alternative to conventional pipes is rising
• Flexible pipes offer cost-saving benefits and improved operational efficiency compared to rigid pipelines
• The increasing occurrences of pipe leakage and failure are leading to the adoption of flexible pipes
• Flexible pipes and tubes have extensive applications in transporting oils and liquids across various locations, including seabed, construction sites, and mining operations
• Flexible pipes are essential for increasing productivity, extending well lifespan, and improving profitability in unconventional and challenging environments
• Technological advancements in drilling have revolutionized the oil and gas industry, enabling access to remote, consequently driving the demand for flexible pipes
• Increasing exploration activities in offshore locations drive the demand for flexible pipes due to their ability to withstand harsh environments and transport fluids in deep-water operations
• The growth of deep-water exploration is another significant factor propelling the market forward
• The growth of renewable energy projects, particularly offshore wind farms, has driven the demand for flexible pipes
• The petrochemical sector relies on flexible pipes for the transportation of chemicals, gases, and liquids
• Corrosion resistance and high mechanical strength make flexible pipes ideal for pressure regulation and preventing underground drainage, driving their demand in residential, commercial, and industrial drainage systems and fueling industry growth
• Continuous advancements in materials science and manufacturing technologies have led to the development of high-performance flexible pipes with enhanced durability and improved resistance to corrosion
• Governments and oil and gas companies are investing in pipeline infrastructure development, and flexible pipes are favored for their adaptability, ease of installation, and maintenance advantages

Challenges for Market Players in the Flexible Pipes Market:

• High initial costs compared to traditional rigid pipes
• Limited application range, especially for high-pressure, high-temperature, or corrosive environments
• Maintenance and inspection challenges due to the flexibility and complex design of flexible pipes
• Limited lifespan requiring periodic replacements
• Competition from established alternatives like rigid pipes
• Regulatory and compliance requirements for specific industries

2023 to 2033 Flexible Pipes Demand Outlook in Comparison to Sales Registered from 2018 to 2022

In 2022, the flexible pipes market share amounted to a substantial sum of US$ 1.2 billion. Looking ahead, between 2023 and 2033, the market is anticipated to exhibit a CAGR of 4.8%. This projected growth rate, though slightly lower, is in contrast to the 5.5% CAGR observed from 2018 to 2022. The oil price decline has compelled market participants to implement cost-saving measures. Consequently, costly activities in the oil and gas industry, including drilling and exploration, were curtailed, leading to a reduction in the utilization of flexible pipes.

Between 2023 and 2033, the market is anticipated to display substantial growth potential, with projections indicating a 1.5X increase.

Short-term Growth Opportunities (2023 to 2026):

• The expected growth in offshore oil and gas exploration is likely to drive the demand for flexible pipes
• The need for upgrades or replacement of aging pipelines and subsea systems is projected to fuel flexible pipes market expansion

Mid-term Growth Opportunities (2026 to 2029):

• The anticipated increase in deep-water exploration and production activities is projected to drive the demand for flexible pipes
• The expected expansion of pipeline infrastructure, particularly in emerging economies, is likely to fuel the flexible pipes sales

Long-term Growth Opportunities (2029 to 2033):

• The ongoing transition to renewable energy sources, such as offshore wind farms and floating solar installations, is projected to drive the adoption of flexible pipes
• The growing need for subsea wells to connect with production platforms or onshore facilities is expected to drive the demand for flexible pipes

Flexible Pipes Market Key Trends & Opportunities:

Exploring the Regional Patterns of the Flexible Pipes Market: An In-depth Examination at the Country Level

What Role Does the Oil and Gas Industry Play in Driving China Flexible Pipes Market?

The booming construction industry in China has a significant impact on the market. China's rapid urbanization and infrastructure development have fueled the demand for flexible pipes in construction projects. The demand for flexible pipes in infrastructure projects, including residential and commercial buildings, roads, and tunnels, remains high. These pipes are also extensively used for drainage systems, underground water transportation, and other applications in the construction industry.

The construction industry's growth directly translates into increased demand for flexible pipes for applications such as sewage systems, water supply, and HVAC systems. The government's focus on infrastructure development, including highways, bridges, and tunnels, further drives the market growth.

The expansion of China's oil and gas industry significantly influences the market. Globally, China ranks as the second leading consumer and the sixth leading producer of oil and gas, highlighting its significant role in the oil and gas industry. In 2021, China possessed an extensive network of oil and gas midstream infrastructure, encompassing oil and gas pipelines along with storage facilities.

The country boasted about 110,000 kilometers of natural gas pipelines and around 27,441 kilometers of oil pipelines. The demand for flexible pipes in this sector is expected to grow as China continues to invest in its energy security and the development of its domestic oil and gas resources.

Can Sustainable Practices Drive the Success of Japan Flexible Pipes Market?

Japan is one of the leading energy consumers in the world. Japan's energy companies enthusiastically welcomed the G7's recent endorsement of natural gas investment in their official statement. Despite being resource-limited, Japan, the leading purchaser of liquefied natural gas globally, sees gas as a crucial transitional energy source to achieve its net-zero carbon emission targets while ensuring energy security.

The government is actively promoting investments in infrastructure development and renewable energy projects. This provides significant opportunities for the flexible pipes market, as these projects require efficient piping systems. Hence, the oil and gas industry plays an important role in driving the demand for flexible pipes for offshore exploration, production, and transportation activities.

Japan has stringent environmental regulations in place to ensure the protection of natural resources and the prevention of pollution. These regulations drive the adoption of eco-friendly materials and technologies in the flexible pipes industry. Natural calamities such as earthquakes and tsunamis are common in Japan. This has led to a focus on developing resilient infrastructure, including flexible pipes that can withstand ground movements and provide reliable performance during and after disasters.

What Role do Flexible Pipes Play in the Shale Gas Extraction Boom in the United States?

The United States flexible pipes market has witnessed significant growth in recent years. The country has been witnessing substantial investments in infrastructure development projects. This trend has increased the demand for flexible pipes, as they provide a cost-effective and efficient solution for various applications.

The United States has also been gradually shifting toward renewable energy sources. As per the United States Energy Information Administration, the United States is set to become a net energy exporter in 2020 and maintain that status throughout the forecast period. Flexible pipes play a crucial role in these sectors by facilitating the transportation of fluids and gases.

The rise of shale gas exploration and production in the United States has positively impacted the market. With abundant shale resources and ambitious government policies to position the country as a leading oil and gas producer, the United States is expected to drive the demand for flexible pipes in North America. For instance, the United States Department of Interior plans to permit offshore exploratory drilling in about 90% of the outer continental shelf acreage through the National Outer Continental Shelf Oil and Gas Leasing Program for 2019 to 2024, creating new opportunities in the oil and gas sector.

What Role Does Infrastructure Development Play in Fueling South Korea Flexible Pipes Market?

South Korea has a significant oil and gas sector presence, with several offshore exploration and production activities. The need for flexible pipes in subsea applications is increasing, driving market growth. South Korea has been actively promoting renewable energy sources. Flexible pipes are essential for interconnecting offshore wind turbines and transporting electricity to the mainland, contributing to market growth.

According to South Korea's Basic Plan for Power Supply 2020-34, released in December 2020, the country has set ambitious targets for its energy sector. The plan outlines an increase in the capacity of LNG-based power plants from 41.3 GW in 2020 to 59.1 GW in 2034, representing a significant growth of 43%. This shift toward natural gas is expected to drive the demand for flexible pipes.

The construction sector plays a vital role in the demand for flexible pipes due to infrastructure development projects. The government has undertaken large-scale infrastructure projects, including constructing new pipelines, ports, and power plants. These projects require flexible pipes for efficient fluid transportation, creating significant opportunities for market players.

Is the United Kingdom Embracing Eco-friendly Flexible Pipes for a Sustainable Future?

The United Kingdom flexible pipes market has experienced steady growth in recent years. The country has a significant oil and gas industry, and the growing energy demand has fueled the need for flexible pipes in offshore oil and gas exploration and production. The development of new oil and gas fields in the North Sea and the expansion of existing operations contribute to the demand for flexible pipes.

With around 111 oil and gas projects underway, including 83 upstream contracts to be completed by 2025, the United Kingdom has the potential to emerge as a leading player in the European oil and gas industry. Alongside this progress, the country is also making significant strides to expand its renewable energy sector.

The United Kingdom's commitment to environmental sustainability has led to increased scrutiny of the materials and practices used in various industries. Flexible pipes made from recyclable or environmentally friendly materials are gaining traction in the market. The demand for pipes with lower carbon footprints is rising, driving innovation in materials and manufacturing processes.

Nikhil Kaitwade

Principal Consultant

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Exploring the Flexible Pipes Market: An In-depth Segment Analysis

Is High-density Polyethylene (HDPE) the Ultimate Game Changer in the Flexible Pipes Sector?

HDPE offers excellent physical properties such as high tensile strength, impact resistance, and flexibility. These properties make it suitable for various applications, including fluid transportation, drainage systems, and underground cable protection. HDPE exhibits remarkable resistance to chemicals, acids, and alkalis. This exceptional characteristic makes it an extremely desirable choice for applications involving corrosive materials or wastewater transport.

HDPE is renowned for its outstanding durability and long service life. HDPE is a widely utilized thermoplastic derived from petroleum, finding extensive applications across various industries. It offers remarkable temperature endurance ranging from -148 to 176°F, non-leaching properties, UV resistance, and resilience against maximum chemical solvents. Consequently, HDPE flexible pipes can withstand harsh environmental conditions, making them ideal for outdoor applications.

HDPE pipes are highly cost-effective, both in terms of material expenses and installation costs. The raw material itself is relatively inexpensive compared to alternatives like metal or PVC pipes. Furthermore, the lightweight nature of HDPE pipes reduces the need for heavy machinery during installation, resulting in lower labor costs.

How has the Offshore Segment Achieved Market Dominance in Flexible Pipes Applications?

The offshore segment, particularly in the oil and gas industry, is expected to have the maximum impact on the overall flexible pipes market due to the growing demand for offshore activities, which provide increased stiffness. Offshore oil and gas exploration and production activities require the transportation of hydrocarbons from subsea wells to surface facilities. Flexible pipes are well-suited for this purpose.

Flexible pipes offer inherent flexibility and bendability. This allows for easier installation and maneuverability in offshore operations. They can be spooled and transported in large lengths, reducing the number of field joints and simplifying installation processes. To ensure reliability and safety during drilling in waters up to 3,000 meters deep, dependable equipment is required. Flexible pipes offer the necessary stiffness for protection, thereby promoting market growth.

Many new oil and gas reserves are being discovered in offshore locations, and the development of these fields often involves subsea installations. Flexible pipes are used extensively in subsea applications, including risers, flowlines, and jumpers, which connect subsea wells, manifolds, and production facilities.

Flexible Pipes Market: Analyzing Key Players, Strategies, and Market Share in the Global Landscape

The market is a dynamic industry with several key players competing on a global scale. These players employ various strategies to gain a competitive edge and capture a significant market share. They focus on research and development activities to introduce innovative products that meet the industry's evolving needs. They invest in advanced materials, manufacturing processes, and technologies to enhance the performance, durability, and safety of flexible pipes. Companies often form strategic alliances and partnerships with other industry participants to strengthen their market position. Key players aim to expand their market presence by establishing a global footprint. They focus on regions with significant growth potential and invest in infrastructure, manufacturing facilities, and sales networks to cater to local demand.

Recent Developments by Key Flexible Pipes Market Players

• In June 2023, Strohm secured a contract worth US$ 3.29 million from Aker Solutions. The agreement entails the supply of carbon fiber/PA12 composite jumpers to support the ongoing operations at TotalEnergies' Moho Infill project in the Republic of the Congo.
• In January 2023, Cactus, Inc. officially announced its planned acquisition of FlexSteel Technologies Holdings, Inc. and its associated companies. This acquisition is going to take place through a merger involving HighRidge Resources, Inc. and Atlas Merger Sub, LLC, a newly formed subsidiary of Cactus, Inc.
• In March 2021, TechnipFMC unveiled its latest innovation, named Deep Blue, which is a flexible pipe solution catered specifically to the offshore oil and gas sector. Deep Blue is a composite pipe that merges the advantages of steel and polymer materials, delivering exceptional mechanical strength, resistance to corrosion, and flexibility.
• In February 2021, Baker Hughes introduced its latest generation of the onshore composite flexible pipe. It is designed as a solution to combat the corrosion and cost of ownership issues. In the energy, oil & gas, and industrial sectors, these challenges are related to classic steel pipes. The newly launched reinforced thermoplastic pipe is flexible and lightweight and offers an economically and environmentally superior alternative to resource-intensive steel pipes used in onshore applications.
• In January 2021, Venair Group introduced a newly developed, thoroughly tested, and certified elastomer flexible hose known as Vena® Fuel Cell. This proprietary hose has been specifically engineered for hybrid lines, targeting its use in fuel cell applications. Vena® Fuel Cell is designed to meet the primary requirements of fuel cell systems while enhancing their overall efficiency.

Key Players

• Airborne Oil & Gas B.V. (Strohm)
• ContiTech AG
• FlexSteel Pipeline Technologies, Inc.
• GE Oil & Gas
• Magma Global Limited

How can Flexible Pipes Market Players Grow Their Businesses?

• Expand product offerings
• Invest in research and development
• Enhance product quality and reliability
• Establish strategic partnerships
• Expand into new geographical markets
• Focus on customer service and support
• Embrace sustainability and environmental considerations
• Leverage digital marketing and e-commerce
• Stay informed about industry trends and emerging technologies

Flexible Pipes Market Segmentation

By Material:

• High-density Polyethylene (HDPE)
• Polyamide
• Polyvinylidene Fluoride
• Others

By Application:

• On-shore
• Off-shore

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa