Flexible Pipe Global Market Report 2024

The flexible pipe market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed in the historic period can be attributed to the expansion of the oil and gas industry, increased activities in offshore drilling and production, the demand for pipeline rehabilitation, adherence to environmental regulations, and a focus on cost efficiency.

The flexible pipe market size is expected to see strong growth in the next few years. It will grow to $1.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be attributed to the increasing demand for durable and versatile piping, a rising need for flexible pipes, positive economic growth forecasts, geopolitical stability, and the dynamics of market competition. Major trends expected during this period include a focus on customization and tailored solutions, the integration of subsea systems, technological advancements, the adoption of environmentally conscious solutions, and the emergence of smart pipe technologies.

The growing demand for oil and gas is a key factor fueling the expansion of the flexible pipe market. Oil and gas, essential fuels extracted from the Earth's surface, drive the need for flexible pipes in the industry to meet technical requirements and address geometric constraints in water applications. The surge in demand for oil and gas is a significant driver for the flexible pipe market. For example, according to a report from the Australian Petroleum Production and Exploration Association published in 2021, Australia's petroleum liquids output experienced a slight increase to 169 million barrels in 2020, reflecting a 2% rise compared to the previous year. Additionally, a report by the Petroleum Planning & Analysis Cell (Ministry of Petroleum & Natural Gas) in May 2021 revealed a 15.5% increase in petroleum product production in May 2021 compared to May 2020, following a 30.9% increase in April 2021. Consequently, the escalating demand for oil and gas is expected to propel the growth of the flexible pipe market.

The rise in global energy consumption is a significant driver for the increasing demand in the flexible pipe market. Energy consumption refers to the total amount of energy utilized by a system, organization, or society over a specific period, typically measured in units such as electricity, heat, or other energy forms. Flexible pipes find application in energy consumption scenarios, particularly in renewable energy projects, owing to their adaptable and durable characteristics. This enables the efficient and reliable transport of fluids in dynamic and challenging environments, thereby contributing to the overall effectiveness and sustainability of energy operations. As an illustration, in 2022, the U.S. Energy Information Administration (EIA), a government agency in the United States, reported that the total U.S. primary energy consumption reached 100.41 quadrillion British thermal units (Btu). The breakdown by energy source included petroleum (36%), natural gas (33%), renewable energy (13%), coal (10%), and nuclear electric power (8%). The electric power sector accounted for 38% of the total U.S. primary energy consumption. Consequently, the anticipated increase in global energy consumption is expected to drive the growth of the flexible pipe market.

Product innovations represent a prominent and increasingly popular trend in the flexible pipe market. Leading companies in the industry are actively focusing on introducing new and innovative products to maintain their market position. For example, in January 2021, Baker Hughes, a U.S.-based flexible pipe manufacturer, unveiled its next-generation onshore composite flexible pipe. This innovative product signifies a significant advancement in the fundamental design of flowlines and oil and gas pipeline networks. Specifically designed for the energy sector, this lightweight flexible pipe addresses challenges related to corrosion and costs often associated with traditional steel pipes. It serves as an environmentally friendly alternative to resource-intensive onshore steel pipes, and notably, it reduces installed costs by more than 20%, making it a noteworthy feature of the product.

Major companies in the flexible pipes market are increasingly adopting a strategic partnership approach to revolutionize the pipeline integrity management landscape by providing comprehensive and cutting-edge solutions. A strategic partnership involves a collaborative agreement or alliance between two or more entities, such as companies, organizations, or governments, with the objective of achieving mutually beneficial goals. For example, in October 2023, AISUS Offshore Ltd., a Scotland-based remote inspection technology company, entered into a partnership with SIMEROS, a Brazil-based engineering firm. The aim of this partnership is to offer customers a one-stop-shop solution that covers the entire pipeline integrity management process, incorporating innovative un-bonded flexible pipe integrity management solutions with advanced inspection capabilities.

In October 2022, Armacell, a Europe-based manufacturer and supplier specializing in industrial foams and flexible insulation materials, successfully acquired Austroflex Rohr-Isoliersysteme GmbH for an undisclosed amount. This strategic move enables Armacell to expand its geographic reach and enhance its market exposure in Europe. Moreover, the acquisition strengthens Armacell's product line, industry expertise, and production capacity, positioning the company to better address the growing demand in the energy-efficient and rapidly expanding pre-insulated pipe market. Austroflex Rohr-Isoliersysteme GmbH, based in Austria, specializes in technical insulation solutions, thermal solar pipe systems, and flexible pre-insulated pipe systems.

Major companies operating in the flexible pipe market report are PT Elnusa Tbk, Continental AG, Schlumberger Limited, FlexEnergy LLC, Flexitech Group, Baker Hughes, Evonik Industries AG, Prysmian Group, Solvay S.A., DuPont de Nemours Inc., Saipem S.p.A., NOV Inc., National Oilwell Varco, TechnipFMC PLC, Wienerberger AG, Wavin B.V., Cosmoplast Industrial Company LLC, Shawcor Ltd., SoluForce, FlexSteel Pipe, Flexfab Horizons International, Magma Global Ltd., GE Oil & Gas Corporation, Chevron Phillips Chemical LLC, Strohm B.V., The ContiTech Group, Airborne Oil & Gas B.V., Pipelife Nederland B.V., Petromaroc Corporation PLC, Flexmaster Joint Kit Pvt. Ltd.

North America was the largest region in the flexible pipes market share in 2023. Middle East and Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible pipe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the flexible pipe market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary raw materials for flexible pipes include high-density polyethylene, polyamides, polyvinylidene fluoride, and other materials. High-density polyethylene (HDPE) is the monomer of an ethylene-based polymer and is utilized in diverse applications. These applications span across offshore and onshore sectors, playing a crucial role in industries such as oil and gas, water treatment plants, chemicals and petrochemicals, mining, pharmaceuticals, food and beverages, among others.

The flexible pipes market research report is one of a series of new reports that provides flexible pipes market statistics, including flexible pipes industry global market size, regional shares, competitors with a flexible pipes market share, detailed flexible pipes market segments, market trends and opportunities, and any further data you may need to thrive in the flexible pipes industry. This flexible pipes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The flexible pipe market consists of sales of plastic flexible water oil coolant pipes and hose pipes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.