The global flexible pipes market size was estimated at USD 1.25 billion in 2023 and is projected to reach USD 1.65 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030. This growth is primarily driven by the increasing exploration activities in offshore oil and gas locations, which require specialized piping solutions capable of operating under extreme conditions.

Flexible pipes play a critical role in transporting fluids in challenging environments, especially in deep-water and ultra-deep-water operations, where conventional rigid piping systems may be inadequate. The demand for these pipes is further supported by advancements in drilling technologies, which have improved the efficiency, safety, and reliability of oil and gas extraction processes. As conventional reserves are gradually depleting, the industry is increasingly shifting focus toward deep-water and ultra-deep-water reserves, creating a strong need for robust, adaptable, and high-performance flexible piping systems that can withstand high pressures, corrosive fluids, and harsh marine conditions.

The Chinese market is experiencing particularly strong growth, largely driven by the country’s rising energy demands and substantial investments in offshore oil and gas exploration. As the world’s most populous nation and a major economic powerhouse, China requires significant energy resources to support its industrial and residential consumption. Flexible pipes are essential in this context, as they enable the safe and efficient transport of fluids in offshore locations where traditional rigid pipes are less effective. Moreover, the Chinese government’s commitment to expanding offshore exploration capabilities has further accelerated the adoption of flexible pipes, establishing China as a key contributor to the growth of the global flexible pipes market.

Key Market Trends & Insights:

• In 2023, the Asia Pacific region led the global flexible pipes market, capturing the largest revenue share of 37.40%. The region’s dominance is largely attributed to rapid industrialization, increasing offshore oil and gas exploration activities, and growing energy demands. Within Asia Pacific, China’s flexible pipes market is expected to experience steady growth, driven by its rising need for energy resources, substantial investments in offshore exploration, and government initiatives aimed at expanding deep-water and ultra-deep-water extraction projects.

• From a raw material perspective, the high-density polyethylene (HDPE) segment dominated the market in 2023, accounting for approximately 47% of the total revenue share. HDPE is widely preferred due to its excellent chemical resistance, high strength, durability, and flexibility, making it ideal for use in harsh offshore and deep-water environments where pipes are exposed to high pressures, corrosive fluids, and dynamic marine conditions.

• Based on application, the offshore segment held the largest revenue share of 72.2% in 2023. The prominence of this segment can be attributed to the growing emphasis on deep-water and ultra-deep-water oil and gas exploration, where flexible pipes are essential for transporting fluids efficiently and safely. Offshore applications require piping systems that can adapt to the movement of the sea, resist harsh environmental conditions, and maintain integrity under extreme operational pressures, further driving the demand for flexible pipes in this segment.

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Market Size & Forecast:

• 2023 Market Size: USD 1.25 Billion

• 2030 Projected Market Size: USD 1.65 Billion

• CAGR (2024-2030): 4.0%

• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights:

Some of the key players operating in the global flexible pipes market include National Oilwell Varco (NOV) and TechnipFMC PLC, which are well-established leaders in the oil and gas sector.

National Oilwell Varco, Inc. (NOV) is a major American multinational corporation headquartered in Houston, Texas. The company specializes in providing equipment, technology, and services to the upstream oil and gas industry. NOV operates through three primary business segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The company serves a diverse clientele, including drilling contractors, well-servicing companies, and independent oil and gas operators. NOV maintains a global presence across more than 500 locations, offering a comprehensive range of solutions to support drilling and production operations in various challenging environments.

TechnipFMC PLC is another global leader in the oil and gas industry, delivering a wide array of technologies, systems, and services. The company was established through the merger of FMC Technologies and Technip in 2017, creating a significant energy-sector player capable of navigating market fluctuations, including periods of volatile crude prices. TechnipFMC focuses on providing integrated solutions for offshore and onshore oil and gas operations, including flexible pipes, subsea systems, and project management services.

Emerging players in the market include Shawcor Ltd (now known as Mattr) and GE Oil & Gas Corporation, both of which are expanding their presence in the flexible pipes sector.

Shawcor Ltd., now operating as Mattr, is a Canadian materials technology company headquartered in Toronto, Ontario. The company specializes in delivering products and services primarily for the pipeline sector of the oil and gas industry, making it one of the largest pipe-coating providers globally. Founded in the mid-20th century by Francis Shaw, Shawcor has evolved from its origins as a construction company into a global leader in pipeline services and protective coatings, supporting infrastructure in challenging environments.

GE Oil & Gas Corporation, formerly a division of General Electric (GE), focused on providing advanced technology and services for the oil and gas industry. Established in the 1990s, GE Oil & Gas expanded significantly through strategic acquisitions, including the purchase of the Italian company Nuovo Pignone in 1994, marking GE’s entry into the petroleum sector. The division specialized in turbomachinery, drilling equipment, subsea systems, and pipeline solutions, contributing to the development and deployment of flexible piping solutions worldwide.

Key Players

• National Oilwell Varco (NOV)

• TechnipFMC PLC

• The Prysmian Group

• GE Oil & Gas Corporation

• Shawcor Ltd

• SoulForce (Pipelife Nederland B.V.)

• Airborne Oil & Gas BV

• Magma Global Ltd

• ContiTech AG

• Chevron Phillips Chemical Company LLC

• Flexsteel Pipeline Technologies Inc.

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Conclusion:

The global flexible pipes market is experiencing steady growth, driven by increasing offshore oil and gas exploration activities and advancements in drilling technologies. Flexible pipes are essential for transporting fluids in challenging environments, particularly in deep-water operations where traditional piping systems may fail. The Asia Pacific region leads the market, with China exhibiting significant growth due to rising energy demands and substantial investments in offshore exploration. High-density polyethylene (HDPE) remains the dominant raw material, favored for its strength and resistance to corrosion.