6:00 AM North American Spoolable Pipe Market Size to reach US$ 650.1 million in 2022 |
The North American spoolable pipe market offers a healthy growth opportunity for the entire ecosystem and is projected to reach US$ 650.1 million in 2022. The spoolable pipe market includes both spoolable composite pipe (SCP) and reinforced thermoplastic pipe (RTP). Despite the short-term fluctuations in the demand for spoolable pipes driven by decreasing rigs or wells count, the long-term business outlook seems promising with good growth potential over the next five years. An expected recovery in the rigs or wells count; cost competitiveness of spoolable pipes over steel pipes; excellent corrosion and erosion resistance; and higher preference of spoolable pipe over steel ones in small diameter pipes are the major factors that are proliferating the growth of the spoolable pipe market.
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Spoolable pipes are mainly composed of three materials. The first material is HDPE (High-Density Polyethylene) which is used in the inner layer of the spoolable pipe. It has a good erosion and corrosion resistance, impact resistance, and has a successful track record in the low-pressure oil & gas applications. The second material is used as reinforcement, which allows the pipe to handle higher pressure. Steel bands or cords, braided polyester, glass fiber, aramid fiber, and carbon fiber can be used as reinforcement material depending on the manufacturers. The third and final pipe material is extruded HDPE that is used in the outer layer of pipe with the purpose of providing protection to the pipe during the installation.
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