Global Flexible Pipes Market for Oil and Gas by Application, Type, and Geography - Forecast and Analysis 2023-2027

The flexible pipes market for oil and gas market is estimated to decline at a CAGR of 2.52% between 2022 and 2027. The size of the market is forecast to increase by USD 151.11 million. The growth of the market depends on serval factors, including rising investment in upstream oil and gas activity, increasing focus on unconventional oil and gas E&P activities, and increasing demand for engineering-grade flexible materials. 

This report extensively covers market segmentation by application (offshore and onshore), type (HDPE, PA, PVDF, and others), and geography (North America, Middle East and Africa, South America, APAC, and Europe). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Flexible Pipes Market For Oil And Gas Market During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global flexible pipes for oil and gas market as a part of the global oilfield equipment and services within the global oil and gas market. The global oilfield equipment and services market covers products and companies engaged in upstream exploration and production (E&P) operations, production of equipment, or service contracts, and is an important manufacturing sector that caters to the needs of the oil and gas upstream sector.  Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Flexible Pipes Market For Oil And Gas Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing demand for engineering-grade flexible materials is notably driving the market growth, although factors such as stringent government regulations may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Flexible Pipes Market For Oil And Gas Market Driver

The increasing demand for engineering-grade flexible materials is notably driving market growth. Engineering-grade flexible materials, such as PEEK and PVDF, are increasingly gaining acceptance in oil and gas applications. These materials possess high chemical-, corrosion-, and wear-resistance, low weight, and mechanical properties, such as high tensile and yield strength compared with metals. Additionally, they are also cost-effective. All these properties have made these a viable option for various applications in the oil and gas industry.

Products such as coiled tubing, risers, and umbilical, which were predominantly manufactured using only steel, are currently being fabricated using flexible composites. This increase in acceptance of engineering-grade flexible materials will help in establishing the market for high-performance flexible pipes once they become cost-effective compared to steel. Thus, such factors will positively influence the growth of the global market during the forecast period.

Significant Flexible Pipes Market For Oil And Gas Market Trend

Preference for additive manufacturing is an emerging trend in the market. Additive manufacturing, which is also known as 3D printing, is a manufacturing technology that is used to build 3D objects from computer-aided design models. It is used to manufacture industrial metal products and components. The oil and gas value chain that includes oil-producing companies and component suppliers is witnessing the rapid adoption of additive manufacturing techniques to manufacture various components, such as condenser tubes, heat exchangers, engines, pipes, metal structures, and tubing components.

Furthermore, additive manufacturing can be used to produce high-cost, low-volume components that have a complex design at a low cost. Such benefits have encouraged manufacturers to test the use of such technologies to build complex structures and components for use in the oil and gas industry. Moreover, vendors in the market are also using 3D printing equipment to manufacture flexible pipes. For instance, MAGMA GLOBAL Ltd.'s m-pipe is manufactured using a fully automated robotic 3D laser print process. The company in 2016, teamed up with Victrex's PEEK thermoplastic composite material and a laser sintering 3D printing setup, to manufacture a 3D printed flexible m-pipe for use in the oil and gas industry. Thus, such factors will propel the growth of the global flexible pipes for oil and gas market during the forecast period.

Major Flexible Pipes Market For Oil And Gas Market Challenge

Stringent government regulations are major challenges impeding market growth. The standards and environmental regulations in the oil and gas industry are becoming increasingly stringent owing to the hazardous potential of the well-drilling activity. Oil and gas drilling activities cause serious damage to the environment, including oil spills and air and water pollution due to toxic chemical emissions and climate change because of methane emissions. 

For example, in December 2022, a significant pipeline that transports oil from Canada to the Texas Gulf Coast was shut down due to an oil spill in a creek in northeastern Kansas. According to U.S. Department of Transportation data, the Keystone pipeline leak in a creek was also the largest in the system's history. The pipeline that runs from Canada to Oklahoma lost around 14,000 barrels, or 588,000 gallons, according to the operator, Canadian-based TC Energy.

Therefore, with the growing number of such incidents, activists and residents are increasingly protesting against oil and gas drilling, with the aim of reducing the adverse environmental impact of oil and gas exploration and production activities and making the oil and gas companies accountable for such accidents. Therefore, such factors will negatively impact the growth of the market during the forecast period.

Key Flexible Pipes Market For Oil And Gas Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Flexible Pipes Market for Oil and Gas Market Customer Landscape

Who are the Major Flexible Pipes Market for Oil and Gas Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Strohm B.V. - The company operates under one segment. The company under this segment manufactures thermoplastic composite pipes for subsea production and oil field applications. The key offerings of the company include flexible pipes for oil and gas. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• BRUGG GROUP AG
• CGH Belgium NV
• Changchun Gaoxiang Special Pipe Co. Ltd.
• Chevron Phillips Chemical Co. LLC
• Continental AG
• Davis Standard LLC
• FlexSteel Pipeline Technologies Inc.
• General Electric Co.
• Hebei Heng An Tai Pipeline Co. Ltd.
• MAGMA GLOBAL Ltd.
• NOV Inc.
• NV Bekaert SA
• Prysmian Spa
• Saudi Arabian Amiantit Co.
• Shandong Saigao Group Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Flexible Pipes Market For Oil And Gas Market?

The market share growth by the offshore segment will be significant during the forecast period. Offshore applications refer to the use of flexible pipes to explore and develop petroleum reserves that are located under a water body, such as a river, sea, lake, or ocean. Using flexible pipes on offshore-based structures, including an oil platform, is generally complex and consequently more expensive. 

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The offshore segment was valued at USD 652.20 million in 2017 and continue to grow by 2021. Flexible pipes are largely used in offshore applications, such as chemical injection pipes and risers. They possess properties like wear- and corrosion-resistance, rigidness, and mechanical strength to withstand changes in temperature and deformation caused by stress, which make them highly effective in underwater applications. The applications of flexible pipes in products, such as coiled tubing, umbilical pipes, and risers for offshore production activities, are projected to drive the market in the oil and gas industry. Furthermore, governments and oil companies have also undertaken several initiatives for the growth of the offshore segment. For instance, in July 2022, the US government planned to allow drilling activities in its offshore oil and gas areas along the gulf of Mexico. The government also eased regulations associated with safety in offshore oil and gas drilling activities. Therefore, these factors will boost segment during the forecast period.

Which are the Key Regions for the Flexible Pipes Market For Oil And Gas Market?

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US was the largest contributor to the growth of the flexible pipes market in oil and gas in North America in 2022. The average capital expenditure on developing new oil and gas infrastructure, primarily in the US, will likely be in the range of $790-$800 million between 2018 and 2035, owing to continued robust developments in unconventional resources and their strong market demand.

Furthermore, the US and Canada are among the large oil and gas producers in the world. Oil and gas production output in these countries has increased significantly due to unconventional E&P activities, such as drilling in shale in the US and oil sands in Canada. According to the US Energy Information Administration (EIA), the US produced around 6.5 million barrels of crude oil per day from tight oil reserves in 2018. Considerable E&P activities in unconventional sources of oil and gas, such as oil sands and shale, are responsible for increasing the overall production of crude oil and gas in North America. Thus, an increase in the E&P of such crude oil and gas resources results in a rise in the demand for flexible pipes in the region.

Furthermore, the governments of several countries in this region are also undertaking initiatives to increase oil and gas production to ensure energy security. In June 2019, National Hydrocarbons Commission, an independent oil regulator in Mexico, approved deepwater oil exploration plans for five areas operated by Shell in Mexican deepwater. This resulted in Shell committing to invest at least $397 million in these projects over the next four years. This is expected to lead to a significant new stream of oil and gas production in Mexico.

In 2020 the restrictions imposed to curb the spread of COVID-19 negatively impacted the oil and gas pipeline projects in the region. However, in 2021, with the introduction of vaccines, the number of COVID-19 cases declined in the region. This led to the lifting of restrictions, which resulted in the resumption of operations on several delayed oil and gas pipeline projects. Thus, with the resumption of operations on oilfields, the regional demand for flexible pipes for oil and gas is expected to rebound during the forecast period. Moreover, the financial stimulus packages by the governments will further drive the growth of the oil and gas industry during the forecast period. 

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Application (Offshore and Onshore), Type (HDPE, PA, PVDF, and Others), and Geography (North America, Middle East and Africa, South America, APAC, and Europe).

• Type Outlook (USD Million, 2017 - 2027)
  • HDPE
  • PA
  • PVDF
  • Others

• Application Outlook (USD Million, 2017 - 2027)
  • Offshore
  • Onshore

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

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What are the Key Data Covered in this Flexible Pipes Market For Oil And Gas Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the flexible pipes for oil and gas market between 2023 and 2027
• Precise estimation of the flexible pipes for oil and gas market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across North America, Middle East and Africa, South America, APAC, and Europe
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the flexible pipes for oil and gas market vendors

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