FlexiblePipe Market: Introduction
· Flexible pipe consists of several layers. Its main parts areleak proof thermoplastic barriers and corrosion resistant steel wires, whichprovide flexibility and superior dynamic behavior to the structure.
· Flexible pipes are used to transfer liquids and fluids such ascrude oil. They can operate under high temperature and pressure conditions.Flexible pipes are manufactured using different materials such as HDPE (HighDensity Polyethylene), PVDF (Polyvinylidene Fluoride), PA (Polyamide), and PP(Polypropylene). HDPE tubing is less flexible vis-à-vis LDPE, but has betterchemical and physical properties.
Key Drivers of Flexible Pipe Market
· Flexible pipe is used in offshore and onshore oil and gasactivities. Increase in offshore and onshore drilling activities all over theworld is driving the flexible pipe market. The flexible pipe market is alsodriven by the rise in global demand for energy and significant growth inexploration and production activities in the oil & gas industry. Increasein number of horizontal wells across the globe is also estimated to be a keydriver of the flexible pipe market. Flexible pipes are used in horizontalwells. Rise in installation of horizontal wells is creating lucrativeopportunities for the flexiblepipe market.
· Beneficial properties of flexible pipes are boosting the marketfor these pipes. Flexible pipes provide exceptional durability. They are widelyused in factory machinery tools, packaging, and automation applications.Polypropylene pipe and tubing is quite durable and has heat resistantproperties. These properties help flexible pipes to be ideal for the transferof gases or hot liquids or where higher pressure and temperature are expected.
Restraints of Flexible Pipe Market
· Dearth of universal directives pertaining to applications offlexible pipes is likely to hamper the market in the near future. Every countryhas different directives and legislations pertaining to the use of flexiblepipes. Companies find it difficult to meet these country-wise directives andlegislations. This can discourage investment in the flexible pipe market,thereby adversely affecting the market.
· Lack of awareness and less adoption of flexible pipes in manydeveloped and underdeveloped countries is projected to restrain the market duringthe forecast period
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Covid-19impact on Flexible Pipe Market
· The COVID-19 outbreak is hampering the demand for flexible pipesin many applications. Governments of various countries across the globe haveenforced lockdown measures to curb the spread of the disease. This has resultedin the slowdown and halt in manufacturing operations, restrictions on supplyand transport, and infrastructure slowdown. In turn, this has led to adeclining in demand for flexible pipes across the globe.
· Key players operating in the flexible pipe market are primarilytier I and tier II manufacturers and suppliers. Manufacture and supply chainfacilities of these players are spread across various countries in AsiaPacific, Europe, North America, Latin America, and Middle East & Africa.Many of these players have halted their production output over the last fewmonths due to the COVID-19 pandemic. The pandemic has negatively impacted thedemand and supply chain of flexible pipes.
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Asia Pacific to Hold Major Share of Flexible Pipe Market
· Based on region, the market can be segmented into North America,Europe, Asia Pacific, Middle East & Africa, and Latin America. NorthAmerica is expected to dominate the flexible pipe market in the near future.Demand for flexible pipes has increased significantly in North America due tothe new oil and gas discoveries in the region.
· Middle East & Africa is also considered a key consumer offlexible pipes due to the new oil and gas discoveries in the region
· The flexible pipe market in Europe, Latin America, and AsiaPacific is also anticipated to expand, led by growth of the oil & gasindustry and new discoveries of oil and gas reserves in these regions
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Global Flexible Pipe Market: Key Players
Majorplayers operating in the flexible pipe market are adopting various organic andinorganic growth strategies such as joint ventures, mergers & acquisitions,expansion, collaborations, new product launches, strategic alliances, andresearch and development to increase their regional presence and business operations.Key players operating in the market include:
· Chevron Phillips chemical company
· Solu Force
· Solvay SA
· Evonik industries
· Technip
· Deep Flex
· National Oilwell Varco
· GE Oil And Gas
· Airborne Oil & Gas
· ContiTech AG
· FlexPipe Systems
· Prysmian Group
· FlexSteel Pipeline Technologies
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