IMARC Group, a leading market research company, has recently releases report titled “Flexible Pipe Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global flexible pipe market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Flexible Pipe Market?
The global flexible pipe market size reached US$ 1.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Flexible pipe is a specialized pipe characterized by a composite construction of layers of different materials, which allows large amplitude deflections without adverse effects on the material. It is manufactured from a wide array of durable materials, such as steel, polyvinyl chloride (PVC), plastic, pitch fiber, and iron. It is primarily used in applications wherein there is a need to accommodate large relative motions, provide corrosion resistance, and reduce installation time and costs. It is also employed for plumbing, heating, air conditioning, and other tasks wherein high-pressure resistance and excellent bending characteristics are required.
What are the growth prospects and trends in the flexible pipe industry?
At present, the increasing demand for flexible pipes for transporting oils and other liquids from one location to another represents one of the significant factors supporting the growth of the market.
In addition, the rising oil exploration activities around the world to fulfill the fuel and energy demands across various industry verticals are propelling the growth of the market. Besides this, the growing employment of flexible pipelines in areas of floating production and storage and offloading (FPSO) ships and semisubmersibles is offering a favorable market outlook.
Additionally, the rising utilization of flexible pipes in the production plants of cosmetics and personal care products is supporting the growth of the market.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Raw Material:
- High-density Polyethylene
- Polyvinylidene Fluoride
Breakup by Application:
Breakup by End Use Industry:
- Oil and Gas
- Water Treatment Plants
- Chemical and Petrochemicals
- Food and Beverages
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Baker Hughes Company, Chevron Phillips Chemical Company LLC, Continental AG, DuPont de Nemours Inc., Evonik Industries AG, FlexSteel Pipeline Technologies Inc., General Electric Company, NOV Inc., Pipelife Nederland B.V. (Wienerberger AG), Prysmian S.p.A., Shell plc, Solvay S.A., Strohm B.V. and TechnipFMC plc.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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