Portland, OR -- (SBWIRE) -- 11/27/2017 -- The global spoolable pipes market is expected to garner $2,107 million by 2023, from $1,345 million in 2016, registering a CAGR of 6.7% from 2017 to 2023. A spoolable pipe is a flexible pipe composed of three layers, namely, the liner, cover, and reinforcement layer.

The liner, which is the inner layer and cover, and the outer layer are composed of high-density polyethylene (HDPE), cross-linked polyethylene (PEX), polyamide (PA), polyvinylidene fluoride (PVDF), and other thermoplastic resins. The reinforcement or the structural layer is made up of glass fibers, carbon fibers, aramids, para-aramids, steel, aluminum, wires, cords, and high-performance fibers such as M5, spectra, vectran, zylon, among others. Internal and external corrosion leads to quick aging and premature failure of steel pipelines.

Majority of the steel pipes are decommissioned after prolonged years of repair and services. Spoolable pipe offers high design flexibility along with high resistance to corrosion, pressure, and impact. Moreover, these pipes are lightweight and flexible in nature, as compared to their steel counterpart; thus requiring less manpower, equipment, and energy to transport and install. This makes spoolable pipes a cost-effective alternative to steel pipes.

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Superior properties of spoolable pipes as compared to conventional counterparts have increased their adoption in the market. Properties, such as corrosion resistant and high impact resistant, make these pipes suitable for oil & gas field. Increase in production of oil & gas on account of rise in energy consumption is expected to boost the demand for spoolable pipes for transportation purposes. Moreover, the discovery of new offshore oil & gas fields is expected to present new opportunities for the manufacturers of spoolable pipes. However, high entry barriers due to stringent regulations on the design, construction, and operation of spoolable pipes by Pipeline and Hazardous Materials Safety Administration (PHMSA), American Petroleum Institute, ASTM International, and Canadian Standard Association could hamper the market growth.

The global spoolable pipes market is segmented based on matrix type, reinforcement type, application, sales channel, and geography. The market based on the matrix includes thermoplastics and thermosets. Based on reinforcement, it is classified into fiber reinforcement, steel reinforcement, and others. The application segment is divided into onshore, offshore, downhole, and others. On the basis of sales channel, the market is categorized into direct and indirect. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major players profiled in this study include:
- Airborne Oil & Gas B.V.
- Changchun Gaoxiang Special Pipes Co., Ltd.
- Flexpipe Inc.
- FlexSteel Pipeline Technologies, Inc.
- Future Pipe Industries (L.L.C.)
- Magma Global Limited
- National Oilwell Varco, Inc.
- Pipelife International GmbH
- Polyflow LLC
- Smartpipe Technologies

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Key Benefits
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global spoolable pipes market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the matrix, reinforcement, and its application.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key players are profiled to understand the competitive outlook of the market.