Revolutionizing Energy Infrastructure: Global Flexible Pipes Market Poised for Exponential Growth; As per TNR, The Niche Research

Global Flexible Pipes Market is Anticipated to Grow at a CAGR of 3.73% over the Forecast Period (2024 – 2034)

/EIN News/ -- Wilmington, Delaware, May 22, 2024 (GLOBE NEWSWIRE) -- Flexible pipes, also known as flexible risers or flexible flowlines, are essential components in offshore oil and gas production systems. Unlike rigid pipes, which are inflexible and susceptible to damage in harsh environments, flexible pipes are designed to withstand high pressures, extreme temperatures, and complex seabed conditions while allowing for movement due to waves, currents, and thermal expansion.

The flexible pipes market has experienced significant growth in recent years, driven by the expansion of offshore oil and gas exploration and production activities. As traditional reserves become increasingly difficult to access, companies are venturing into deeper waters and harsher environments, where flexible pipes offer distinct advantages over rigid alternatives. Increasing demand for energy has led to a surge in offshore oil and gas exploration and production activities. Flexible pipes enable the development of fields located in deepwater and ultra-deepwater environments, where traditional infrastructure is impractical or cost-prohibitive.

Global Flexible Pipes Market: Key Datapoints

Market Value in 2023	US$ 1332.93 Mn
Market Value Forecast 2034	US$ 1979.61 Mn
Growth Rate	3.73%
Historical Data	2016 – 2022
Base Year	2023
Forecast Data	2024 - 2034

Continuous innovations in materials science, manufacturing techniques, and design capabilities have enhanced the performance and reliability of flexible pipes. Advanced polymers, such as thermoplastic and thermoset resins, are now used to create durable and corrosion-resistant pipe layers, extending the lifespan of installations in challenging offshore conditions. Flexible pipes offer cost advantages over rigid alternatives in terms of installation, maintenance, and operation. Their lightweight construction and ability to be spooled for transportation and deployment reduce installation time and logistics costs. Additionally, their flexibility minimizes the need for complex support structures, further lowering overall project expenses.

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With growing emphasis on environmental sustainability, the offshore industry is increasingly adopting flexible pipes for their minimal environmental footprint. Flexible risers and flowlines have lower carbon emissions during manufacturing and installation compared to rigid pipes, and their flexibility reduces the risk of damage to marine ecosystems. The integration of digital technologies, such as sensors, data analytics, and predictive maintenance software, is a growing trend in the flexible pipes market. Remote monitoring systems enable real-time monitoring of pipe integrity, performance, and condition, allowing operators to optimize maintenance schedules, minimize downtime, and enhance operational efficiency.

Integration of renewable energy sources, such as offshore wind and wave energy, with traditional oil and gas infrastructure is driving innovation in the flexible pipes market. Flexible pipes are used to transport fluids, such as hydraulic fluids and electrical cables, to and from renewable energy installations, enabling the development of integrated energy systems. Subsea tiebacks, which involve connecting new wells to existing infrastructure, and brownfield developments, which involve the revitalization of mature fields, represent lucrative opportunities for the flexible pipes market. Flexible pipes offer a cost-effective solution for extending the life of existing assets and maximizing hydrocarbon recovery from mature fields.

With an increasing number of offshore installations reaching the end of their operational life, decommissioning activities represent a growing market for flexible pipes. Flexible pipes are used for temporary fluid transfer during decommissioning operations, facilitating the safe and efficient removal of equipment and infrastructure from the seabed. Emerging economies, particularly in Asia-Pacific and Latin America, offer significant growth opportunities for the flexible pipes market. Rapid industrialization, urbanization, and infrastructure development in these regions are driving demand for energy, creating opportunities for offshore exploration and production activities. 

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Key Takeaways of the Report: 

• Polyvinyl chloride (PVC) material is anticipated to grow fastest with a revenue share of 27.2% in the flexible pipes market due to its cost-effectiveness, versatility, and durability. PVC offers excellent resistance to corrosion, chemicals, and abrasion, making it well-suited for a wide range of applications in offshore oil and gas production. Additionally, advancements in PVC formulations have enhanced its performance in challenging environments, further fueling its adoption. With increasing demand for cost-efficient and reliable solutions, PVC flexible pipes are expected to witness significant growth in the market.
• Single layer accounted for the highest share of the flexible pipes market in 2023. Single-layer pipes are characterized by their simplicity, cost-effectiveness, and ease of manufacturing, making them the preferred choice for a wide range of applications. Additionally, single-layer pipes offer sufficient mechanical strength and flexibility to withstand the rigors of offshore environments while maintaining optimal flow characteristics. Their straightforward design and construction also contribute to faster installation times and reduced maintenance requirements, further bolstering their popularity among operators in the oil and gas industry.
• The emergence of plumbing as the leading segment in the flexible pipes market, capturing a significant revenue share of 27.2%, is primarily due to the widespread adoption of flexible pipes in residential, commercial, and industrial plumbing applications. Flexible pipes offer numerous advantages over traditional rigid piping systems, including easier installation, enhanced flexibility to navigate complex layouts, and resistance to corrosion and chemical degradation. Additionally, the increasing demand for efficient and durable plumbing solutions, driven by urbanization, infrastructure development, and renovation projects, has further propelled the growth of flexible pipes in the plumbing sector, consolidating its position as the leading segment.
• North America emerged as the leading region in the global flexible pipes market in 2023, driven by several factors. The region boasts a mature oil and gas industry, with significant offshore exploration and production activities in the Gulf of Mexico. Stringent regulatory standards and environmental considerations have spurred the adoption of flexible pipes, known for their safety and environmental benefits. Additionally, ongoing technological advancements and infrastructure investments have further bolstered the demand for flexible pipes in North America, consolidating its position as a key market leader in the industry.

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Following are few of the major companies active within the global flexible pipes market:

• ASTRAL PIPES
• Comap
• ContiTech Deutschland GmbH 
• FlexSteel Pipeline Technologies, Inc. 
• General Electric Company
• Henco
• MAGMA GLOBAL LTD. 
• Rehau
• RWC (SharkBite)
• Strohm
• TRICOFLEX
• Uponor Corporation
• Viega Group
• Watts
• Zurn Water, LLC. 
• Other Industry Participants

Global Flexible Pipes Market

By Material

• Polyethylene (PE)
  • High-Density Polyethylene (HDPE)
  • Medium-Density Polyethylene (MDPE)
  • Low-Density Polyethylene (LDPE)
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Thermoplastic Elastomers (TPE)
• Others

By Layer

• Single
• Multi

By Application

• Plumbing
• HVAC
• Water Distribution
• Gas Distribution
• Renewable Energy Systems
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)   

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