Spoolable Pipes Market size is poised to reach USD 4 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of spoolable pipes was USD 2 Billion. The reason behind the growth is due to the increasing consumption of natural gas across the globe. For the past 20 years, there has been an increase in the global consumption of natural gas driven by the US shale gas revolution and the rapidly expanding liquefied natural gas industries.
For instance, more than 3 trillion cubic meters of natural gas was consumed globally in 2022, and this figure is projected to increase at an average yearly rate of over 0.7%, or over 4,220 billion cubic meters by 2025.
The growing introduction of efficient pipe technology is believed to fuel the spoolable pipes market growth. For instance, in November 2023 Baker Hughes introduced a new PythonPipe portfolio that allows for over 55% installation time reduction, helps in achieving up to 74% reduction in carbon emissions over its lifecycle, more than 75% reduction in maintenance expenses, and provides both efficient and sustainable operations. Furthermore, the PythonPipe portfolio provides the only 8-inch spoolable, non-metallic RTP product available on the market and cutting-edge co-extruded liner technology which makes it appropriate for harsh and corrosive situations.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~4% |
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Base Year Market Size (2023) |
~ USD 2 Billion |
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Forecast Year Market Size (2036) |
~ USD 4 Billion |
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Regional Scope |
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Matrix (Thermoplastics, Thermosets)
The thermoplastics segment in the spoolable pipes market is estimated to gain a robust revenue share of 60% in the coming years owing to the growing extraction of gas. For instance, the Canadian oil and gas extraction industry's overall revenue increased by more than 53% to around USD 268 billion in 2022. The extraction of gas increases the need for effective piping solutions such as thermoplastic spoolable pipes.
Reinforced thermoplastic pipe (RTP) is an alternative to conventional pipelining materials that can be produced in continuous spoolable lengths via filament winding or tape placement techniques to offer more flexible options for gas extraction. Moreover, these pipes don't become rusted and are simple to spool and lightweight. Additionally, the flexible composite pipes (FCP) are composed of a thermoplastic liner that has been reinforced and is shielded by another layer which is a proven technology for offshore operations.
Furthermore, the oil and gas industry's primary choice for pipeline and pipe structural materials was steel until ten years ago but now thermoplastic composite pipes are extensively being adopted as an alternative to steel to address its drawbacks including corrosion, fatigue, and weight.
End-User (On-shore, Off-shore, Downhole)
Spoolable pipes market from the on-shore segment is set to garner a notable share shortly. The spoolable pipe is an engineered solution that is typically made up of multiple layers and has been widely used in the onshore oil and gas industry as it offers several benefits, including good flexibility, few joints, long single lengths, lightweight, and ease of installation. Moreover, spoolable pipes are utilized in high-pressure onshore applications such as portable well test lines, pipeline relining, production gathering lines, gas lift injection lines, water-alternating gas lines, and water injection lines.
Additionally, spoolable composite tubing may find applications in the off-shore industry that include use in pipelines, flowlines, risers, jumpers, expansion spools, chemical injection, methanol injection, gas lift, wellbore access, choke and kill, decommissioning, and the removal of hydrate blockages. Furthermore, the use of thermoplastic composite pipes is not simply restricted to off-shore and on-shore applications but new uses are also being discovered for a downhole industry where steel is susceptible to corrosion.
Reinforcements (Glass Fiber, Carbon Fiber, Steel)
The glass fiber segment is anticipated to garner a noteworthy share in the coming years. Glass fiber reinforcement pipes (GFRP) are intended for production, and injection applications, and are currently used in pipelines for the collection and distribution of natural gas to meet the growing need for energy. Moreover, GFRP is more flexible and less expensive than carbon fiber reinforcement pipes (CFRP) and has numerous other benefits over steel, making it a good substitute or complementary material for use in high-pressure transmission lines.
Our in-depth analysis of the global market includes the following segments:
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Matrix |
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End-User |
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Application |
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Reinforcements |
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Diameter |
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Sales Channel |
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North American Market Forecast
Spoolable Pipes market in North America is predicted to account for the largest share of 44% by 2036 impelled by the growing chemical sector. One of the biggest manufacturing sectors in the US is the chemicals sector, which is one of the top producers of chemical products worldwide. For instance, in 2022, the US chemical sector expanded its output volume by more than 4%. Moreover, a quarter of the GDP of the United States is derived from this industry and is also among the major industrial users of gas and oil.
APAC Market Statistics
The Asia Pacific spoolable pipes market is estimated to be the second largest, during the forecast timeframe led by the growing spending on infrastructure projects. India is undertaking ambitious infrastructure projects which may necessitate the need for efficient pipelines including spoolable pipes. For instance, to achieve its goal of having around USD 4 GDP by 2025, India is predicted to need to invest more than USD 4 trillion in infrastructure by 2030.
Author Credits: Smruti Ranjan, Rajrani Baghel
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