Flexible Pipe Market: Introduction
- Flexible pipe consists of several layers. Its main parts are leak proof thermoplastic barriers and corrosion resistant steel wires, which provide flexibility and superior dynamic behavior to the structure.
- Flexible pipes are used to transfer liquids and fluids such as crude oil. They can operate under high temperature and pressure conditions. Flexible pipes are manufactured using different materials such as HDPE (High Density Polyethylene), PVDF (Polyvinylidene Fluoride), PA (Polyamide), and PP (Polypropylene). HDPE tubing is less flexible vis-à-vis LDPE, but has better chemical and physical properties.
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Key Drivers of Flexible Pipe Market
- Flexible pipe is used in offshore and onshore oil and gas activities. Increase in offshore and onshore drilling activities all over the world is driving the flexible pipe market. The flexible pipe market is also driven by the rise in global demand for energy and significant growth in exploration and production activities in the oil & gas industry. Increase in number of horizontal wells across the globe is also estimated to be a key driver of the flexible pipe market. Flexible pipes are used in horizontal wells. Rise in installation of horizontal wells is creating lucrative opportunities for the flexible pipe market.
- Beneficial properties of flexible pipes are boosting the market for these pipes. Flexible pipes provide exceptional durability. They are widely used in factory machinery tools, packaging, and automation applications. Polypropylene pipe and tubing is quite durable and has heat resistant properties. These properties help flexible pipes to be ideal for the transfer of gases or hot liquids or where higher pressure and temperature are expected.
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Restraints of Flexible Pipe Market
- Dearth of universal directives pertaining to applications of flexible pipes is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of flexible pipes. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the flexible pipe market, thereby adversely affecting the market.
- Lack of awareness and less adoption of flexible pipes in many developed and underdeveloped countries is projected to restrain the market during the forecast period
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Covid-19 impact on Flexible Pipe Market
- The COVID-19 outbreak is hampering the demand for flexible pipes in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a declining in demand for flexible pipes across the globe.
- Key players operating in the flexible pipe market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of flexible pipes.
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