Composite Hoses Market by Media Type, by Inner Liner Type, by Application Type, by Pressure Type, and by Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

This comprehensive report, from the author, studies the composite hoses market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024. The report estimates the current and future demand for composite hoses at the global, regional, as well as country-level. The report also studies all the major suppliers of composite hoses across the globe. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

The Composite Hoses Market: Highlights
Composite hoses are preferred for the conveyance of fluids, such as aggressive chemicals, oil, cryogenic gases, inks & paints, and petroleum products, from one point to another. Composite hoses are made with spirally wrapped inner layer reinforced with multiple layers of thermoplastic fabrics and films, held together by an inner and outer metal wire. These hoses are used in a wide array of plants/industries including oil and petroleum refineries, steel plants, chemical plants, pharmaceutical plants, storage tank terminals, ink and paint industries, and paper mills. Apart from these applications, these hoses are also found usage in marine vessels and road tank haulages.

Composite hoses are constructed with different types of inner liners including polypropylene, polytetrafluoroethylene (PTFE), ethylene chlorotrifluoroethylene (ECTFE), and polyamide. The inner wire used in composite hoses, provides structural support and crush resistance to composite hoses and are made up of either polypropylene-coated steel, or stainless steel, or galvanized steel. The outer wire provides structural integrity and is generally made up of either galvanized steel or stainless steel.

Composite hoses represent niche but extremely high-growth opportunities in years to come. The market for composite hoses is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 354.0 million in 2024. Organic growth in oil & gas production and chemical industry and increasing preference of composite hoses over their counterparts are the major factors spurring the growth of the market.

The unique construction of composite hoses provides some key benefits, such as lightweight, durable, greater flexibility, excellent shelf life, and better performance, which make them an easy product to handle. Such key benefits increase the acceptance of it in various applications. Furthermore, these benefits make these hoses more suitable for applications situated in highly vibrating regions and for conveying the highly corrosive chemicals. The use of composite hoses in the hydraulic fracturing process for extracting shale gas has given a new phase of opportunity for the market participants.

Based on the media type, the composite hoses market is segmented into oil & liquid fuel, gas, and chemical. Oil & liquid fuel media is likely to remain the growth engine of the market during the forecast period. Increasing rapid industrialization and urbanization, especially in the developing economies, such as China and India, is creating a greater demand for oil & gas. Also, the demand for the chemical is escalating at a healthy pace. To have a smooth supply of oils and liquid fuels, the demand for composite hoses is increasing at an excellent rate. It is estimated that oil & liquid fuel is estimated to remain the most dominant segment of the market in the coming five years.

Based on the inner liner type, the composite hoses market is segmented into polypropylene, fluoropolymers, polyamide, and others. Polypropylene liner is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. Polypropylene liners are predominantly used in composite hoses, owing to their excellent flexibility, ease of handling, leak-free transfer of fluid, and good electrical conductivity.

Based on the application type, the composite hoses market is segmented into tank truck and railcar transfer, in-plant transfer, marine transfer, and others. Tank truck & railcar transfer is expected to remain the dominant segment of the market during the forecast period, whereas in-plant transfer is expected to be the fastest-growing segment during the same period. For tank truck application, composite hoses are mainly used to convey oil and liquid fuels from refineries to storage facilities and from storage facilities to petrol pumps.

In terms of region, Asia-Pacific is projected to remain the largest market for composite hoses during the forecast period. Increasing chemical production and rising fuel demand are fuelling the growth of composite hoses in the region. China is the growth engine of the region’s market and is one of the largest producers of chemicals and petrochemicals in the world.

North America is projected to remain the second-largest market for composite hoses during the forecast period. Increasing fuel demand by the emerging economies and increasing shale gas production are triggering the demand for composite hoses in the region. The USA is the growth engine of the region’s market and is one of the largest producers of oil & gas in the world.

The supply chain of this market comprises raw material suppliers, composite hose manufacturers, and end-users. The key players in the composite hoses market are Alfagomma S.p.A., Dantec Ltd., United Flexible Inc., Novaflex Group, Trelleborg AB, Polyhose, Gasso Equipments, Gutteling B.V., and Flextral. The development of lightweight and flexible composite hoses, expansion in untapped markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Research Methodology
Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with the author's internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts have been executed to obtain both qualitative and quantitative insights.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The global composite hoses market is segmented into the following categories.

Composite Hoses Market, by Media Type:

• Oil & Liquid Fuel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Hoses Market, by Inner Liner Type

• Polypropylene (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fluoropolymer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyamide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Hoses Market, by Application Type

• In-Plant Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Tank Trucks and Railcar Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine Transfer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Hoses Market, by Pressure Type

• <200 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 200-250 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• >250 PSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Composite Hoses Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)