Indonesia Flexible Pipe Market Size Forecast to Reach $13.1 Million by 2026
Growing Demand From Oil and Gas Industry Driving the Growth of Indonesia Flexible Pipe Market.
(EMAILWIRE.COM, March 04, 2022 ) Indonesia Flexible Pipe market size is forecast to reach US$13.1 million by 2026, after growing at a CAGR of 4.1% during 2021-2026. Flexible pipes are widely used to transport oils or other liquids from one location to the other and they are also operated under high temperature and pressure conditions. These pipes offer various properties such as high-pressure control, lightweight, and leak resistance among others. Polyvinylidene difluoride (PVDF) is a highly non-reactive thermoplastic fluoropolymer used in flexible pipes manufacturing. Poly ethylene flexible pipe is durable, with a long life expectancy. These pipes are used for water systems, drainage, and other applications. The growing demand from the oil & gas industry, along with the rise in demand for non-corrosive pipes among end-use industries are driving the market growth for the flexible pipe market. The rising growth of deep-water exploration activities and the growing technological advancement in the drilling process is supporting the market growth during the forecast period. The growing adoption and acceptance of engineering-grade flexible materials are also propelling the market growth for flexible pipes. The flexible pipelines are widely used in floating production, storage, and offloading (FPSO) ships and semisubmersibles. However, fluctuating raw materials prices and oil prices are likely to hamper the market growth during the forecast period.
COVID-19 Impact
The COVID-19 pandemic is impacting different industries; one of the few industries that were largely hit to some extent was the flexible pipe industry. The temporary shutdown of oil & gas manufacturing facilities has negatively impacted the market. The downfall in the extraction of crude oil, disruption of logistical services, and lack of workforce impacted the market negatively during the covid-19 crises. Travel restrictions have reduced the supply of raw materials required for the manufacturing of flexible pipes, which, in turn, has affected negatively the market growth during the pandemic.
Indonesia Flexible Pipe Market Segment Analysis - By Material
The plastics segment accounted for approximately 55% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. High-density polyethylene (HDPE) is expected to dominate the plastic market during the forecast period. HDPE-based flexible pipes are easy to install and also possess excellent physical properties compared to other plastics types. These pipes can be easily meltable and moldable, and also offer corrosion resistance properties. The growing agriculture activities in Indonesia is one of the major driving factors supporting the market growth for HDPE flexible pipes. These pipes are installed in various industries such as oil & gas, agriculture, petrochemicals, constructions, and others. HDPE pipe has a very high flow capacity, due to its smooth bore and end-to-end jointing methods. The metal segment is expected to grow at a significant CAGR rate during the forecast period. Metal flexible pipe offers high physical strength, and also suitable for wide temperature ranges.
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Indonesia Flexible Pipe Market Segment Analysis – By End-Use Industry
The oil & gas industry is accounted for approximately 15% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The growing population along with increasing transportation activities in the country is driving the market growth for flexible pipes. According to the International Trade Administration, the investments in Indonesia’s oil and gas industry reached around USD 12.3 billion and USD 12 billion respectively in 2018 and 2019. They also mentioned that the country produces approximately 746,800 barrels of oil per day. The construction industry is expected to hold a significant share and grow moderately during the forecast period. According to business Indonesia, the construction industry registered an annual growth rate of 5.8% in 2019 which slightly greater than the nation's growth rate of 5.02%. The Indonesian government has budgeted a large amount for infrastructure developments in 2020. According to the Ministry of Finance data, approximately IDR423.3 trillion is allocated for infrastructure developments in 2020.
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Indonesia Flexible Pipe Market Drivers:
Growing demand from Oil & gas Industry
Rapid growth in the oil & gas sector along with the growing transportation sector in Indonesia is driving the market growth for flexible pipes. Flexible pipes are used for both onshore and offshore activities in the oil & gas industry. The flexible pipes are widely incorporated and is in high demand in offshore application due to growing deepwater, ultra-deepwater, and subsea exploration activities. Indonesia has been active in the oil and gas sector for more than 130 years. According to the BP Statistical Review of World Energy 2019, Indonesia holds 3.2 billion barrels of oil reserves by the end of 2018. The country is also one of the top 20 oil producers in the world, accounting for approximately 1.2% of world oil production. Chevron Pacific Indonesia, ExxonMobil Cepu Limited, Pertamina EP, and Pertamina Hulu Mahakam are some of the major oil & gas companies operating in Indonesia.
Growing infrastructure activities in Indonesia
The infrastructure sector plays an important role in the Indonesian economy. The Infrastructure sector in Indonesia includes the construction projects in different sectors, like Social Infrastructure, Extraction Infrastructure, Transportation Infrastructure, and, Manufacturing Infrastructure among others. Indonesia’s large population and strong domestic demand are driving positive growth for infrastructure activities which is further driving the market for flexible pipes. According to the Cekindo company, Indonesia’s construction sector is growing at 7-8% per year and Infrastructure projects are boosting the construction sector in Indonesia. The Indonesian Government estimates an amount of IDR 2.55 trillion (USD 181.8 billion) of infrastructure investments under the new economic development master plan (MP3Ei) for 2011-2025
Indonesia Flexible Pipe Market Challenges:
The volatile price of raw materials
The raw materials required for flexible pipes include metals and plastics. Depending on raw material suppliers and outsourcing, raw materials from other countries is one of the major challenges facing by flexible pipe market in Indonesia. Fluctuation in foreign currency rates and changing government rules and regulations on imports & exports across the globe is also likely to hamper the market growth during the forecast period.
Indonesia Flexible Pipe Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Indonesia Flexible Pipe market. Major players in the Indonesia Flexible Pipe market are:
Metline Industries
Vinilon Group
National Oilwell Varco
Technipfmc PLC
Prysmian Group
GE Oil & Gas Corporation
Shawcor Ltd.
Pipelife Nederland B.V.
Airborne Oil & Gas B.V.
Magma Global Ltd.
Contitech AG
Flexsteel Pipeline Technologies Inc., and others.
Key Takeaways
The growing demand for oil & gas is driving the market growth for the flexible pipes market. Flexible pipes reduce costs and improve the productivity of offshore oil and natural gas projects.
Growing demand for high-performance pipes among the marine and petrochemical sectors is driving the demand for the flexible pipes market.
The manufacturers are involved in developing advanced flexible pipes for the oil & gas and chemical industries. Investments in research and developments to enhance the capabilities of flexible pipes are supporting the market growth.
Related Reports:
A. Flexible Pipe Market
https://www.industryarc.com/Report/15068/flexible-pipe-market.html
B. FRP/GRP/GRE Pipe Market
https://www.industryarc.com/Report/16469/frpgrpgre-pipe-market.html
For more Chemicals and Materials Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
COVID-19 Impact
The COVID-19 pandemic is impacting different industries; one of the few industries that were largely hit to some extent was the flexible pipe industry. The temporary shutdown of oil & gas manufacturing facilities has negatively impacted the market. The downfall in the extraction of crude oil, disruption of logistical services, and lack of workforce impacted the market negatively during the covid-19 crises. Travel restrictions have reduced the supply of raw materials required for the manufacturing of flexible pipes, which, in turn, has affected negatively the market growth during the pandemic.
Indonesia Flexible Pipe Market Segment Analysis - By Material
The plastics segment accounted for approximately 55% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. High-density polyethylene (HDPE) is expected to dominate the plastic market during the forecast period. HDPE-based flexible pipes are easy to install and also possess excellent physical properties compared to other plastics types. These pipes can be easily meltable and moldable, and also offer corrosion resistance properties. The growing agriculture activities in Indonesia is one of the major driving factors supporting the market growth for HDPE flexible pipes. These pipes are installed in various industries such as oil & gas, agriculture, petrochemicals, constructions, and others. HDPE pipe has a very high flow capacity, due to its smooth bore and end-to-end jointing methods. The metal segment is expected to grow at a significant CAGR rate during the forecast period. Metal flexible pipe offers high physical strength, and also suitable for wide temperature ranges.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=18821
Report Price: $ 4300 (Single User License)
Indonesia Flexible Pipe Market Segment Analysis – By End-Use Industry
The oil & gas industry is accounted for approximately 15% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The growing population along with increasing transportation activities in the country is driving the market growth for flexible pipes. According to the International Trade Administration, the investments in Indonesia’s oil and gas industry reached around USD 12.3 billion and USD 12 billion respectively in 2018 and 2019. They also mentioned that the country produces approximately 746,800 barrels of oil per day. The construction industry is expected to hold a significant share and grow moderately during the forecast period. According to business Indonesia, the construction industry registered an annual growth rate of 5.8% in 2019 which slightly greater than the nation's growth rate of 5.02%. The Indonesian government has budgeted a large amount for infrastructure developments in 2020. According to the Ministry of Finance data, approximately IDR423.3 trillion is allocated for infrastructure developments in 2020.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=18821
Indonesia Flexible Pipe Market Drivers:
Growing demand from Oil & gas Industry
Rapid growth in the oil & gas sector along with the growing transportation sector in Indonesia is driving the market growth for flexible pipes. Flexible pipes are used for both onshore and offshore activities in the oil & gas industry. The flexible pipes are widely incorporated and is in high demand in offshore application due to growing deepwater, ultra-deepwater, and subsea exploration activities. Indonesia has been active in the oil and gas sector for more than 130 years. According to the BP Statistical Review of World Energy 2019, Indonesia holds 3.2 billion barrels of oil reserves by the end of 2018. The country is also one of the top 20 oil producers in the world, accounting for approximately 1.2% of world oil production. Chevron Pacific Indonesia, ExxonMobil Cepu Limited, Pertamina EP, and Pertamina Hulu Mahakam are some of the major oil & gas companies operating in Indonesia.
Growing infrastructure activities in Indonesia
The infrastructure sector plays an important role in the Indonesian economy. The Infrastructure sector in Indonesia includes the construction projects in different sectors, like Social Infrastructure, Extraction Infrastructure, Transportation Infrastructure, and, Manufacturing Infrastructure among others. Indonesia’s large population and strong domestic demand are driving positive growth for infrastructure activities which is further driving the market for flexible pipes. According to the Cekindo company, Indonesia’s construction sector is growing at 7-8% per year and Infrastructure projects are boosting the construction sector in Indonesia. The Indonesian Government estimates an amount of IDR 2.55 trillion (USD 181.8 billion) of infrastructure investments under the new economic development master plan (MP3Ei) for 2011-2025
Indonesia Flexible Pipe Market Challenges:
The volatile price of raw materials
The raw materials required for flexible pipes include metals and plastics. Depending on raw material suppliers and outsourcing, raw materials from other countries is one of the major challenges facing by flexible pipe market in Indonesia. Fluctuation in foreign currency rates and changing government rules and regulations on imports & exports across the globe is also likely to hamper the market growth during the forecast period.
Indonesia Flexible Pipe Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Indonesia Flexible Pipe market. Major players in the Indonesia Flexible Pipe market are:
Metline Industries
Vinilon Group
National Oilwell Varco
Technipfmc PLC
Prysmian Group
GE Oil & Gas Corporation
Shawcor Ltd.
Pipelife Nederland B.V.
Airborne Oil & Gas B.V.
Magma Global Ltd.
Contitech AG
Flexsteel Pipeline Technologies Inc., and others.
Key Takeaways
The growing demand for oil & gas is driving the market growth for the flexible pipes market. Flexible pipes reduce costs and improve the productivity of offshore oil and natural gas projects.
Growing demand for high-performance pipes among the marine and petrochemical sectors is driving the demand for the flexible pipes market.
The manufacturers are involved in developing advanced flexible pipes for the oil & gas and chemical industries. Investments in research and developments to enhance the capabilities of flexible pipes are supporting the market growth.
Related Reports:
A. Flexible Pipe Market
https://www.industryarc.com/Report/15068/flexible-pipe-market.html
B. FRP/GRP/GRE Pipe Market
https://www.industryarc.com/Report/16469/frpgrpgre-pipe-market.html
For more Chemicals and Materials Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Contact Information:
IndustryARC
Venkat Reddy
Tel: (+1) 970-236-3677
Email us
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IndustryARC
Venkat Reddy
Tel: (+1) 970-236-3677
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results