The favorable characteristics of flexible pipes, such as high tolerance for extreme temperature and pressure conditions, durability, and superior strength make them ideal for use in oil and gas extraction activities. In the coming years, these benefits are slated to augment the demand for flexible pipes, creating novel growth prospects in the flexible pipe market. The rapidly rising demand for non-corrosive pipes, greater acceptance of engineering-grade flexible materials, and growing interest in advanced oil and gas exploration activities are poised to emerge as the major growth enablers of the market. This lucrative business landscape is expected to encourage industry leaders to start new business ventures in the flexible pipe market and engage in robust innovation and cross-collaboration. It is predicted that new developments in deep-water exploration initiatives, coupled with advancements in industrial drilling processes, will enable the market to witness sustained growth.

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Cutting-Edge Technologies Create Favorable Outcomes Across Flexible Pipe Market

By levering emerging tech, leading market players are swiftly enhancing the overall productivity levels of critical and routine operations. Innovations in the oil and gas sector have provided greater access to isolated places, deep-water regions, and unconventional formations. Moreover, horizontal drilling has unearthed profitable opportunities to reach unconventional locations. It is expected that the steadily rising use of lateral drilling techniques will increase the demand for flexible pipes. In this context, the demand for advanced and high-performing flexible pipes has been consistently rising around the world. An increase in the applications of flexible pipes for vertical drilling, horizontal drilling, and directional drilling is also set to create fruitful outcomes in the market, propelling companies to bolster their R&D efforts.

HDPE-Based Flexible Pipes to Attract Higher Demand, Opening New Revenue Streams

On the basis of raw material, the flexible pipe market can be segmented into polyvinylidene fluoride, high-density polyethylene (HDPE), and polyamides among others. Among these, HDPE is poised to emerge as the most significant category, becoming the world’s fastest-expanding flexible pipe segment. This type of flexible pipe is simpler to install, has better physical properties, and is less expensive. Several characteristics of HDPE, such as being UV-resistant, the ability to endure extreme temperatures, and strong resistance to a majority of chemical solvents are driving its global demand in the flexible pipe market. With the surging demand for HDPE-based flexible pipes, vendors are projected to engage in rigorous product differentiation and business expansion to better meet their global demand.

 

A Flourishing Oil & Gas Sector Positions North America as Key Regional Player

 

North America is predicted to rise as the leading regional player in the flexible pipe market. This region will contribute towards generating the highest revenue share owing to favorable factors such as the discovery of shale resources, government plans to make the U.S. one of the top oil and gas producers, and promising programs related to offshore exploratory drilling. All such developments are expected to positively influence the demand for flexible pipes. Moreover, modest growth in energy demand and the sound pursuit of advanced technologies are likely to expand the region’s flexible pipe market.

 

Leading Market Players

 

Major players in the global flexible pipe market are Flexsteel Pipeline Technologies Inc. (U.S.), Prysmian Group (Italy), National Oilwell Varco (U.S.), Pipelife Nederland B.V. (The Netherlands), and Contitech AG (Germany) among others.

 

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