Expanding Oil & Gas Sector to Present Clad Pipe Market with US$ 3.7799 Bn Opportunity by 2032 | Report by Future Market Insights, Inc.

Rain screen Cladding Market is estimated to record a CAGR of 7% during the forecast period. Pipeline Monitoring System Market size is predicted to be valued at US$ 30.16 Billion by 2032.

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NEWARK, Del: , Oct. 05, 2022 (GLOBE NEWSWIRE) -- The global clad pipe market is anticipated to reach a valuation of US$ 3,779.9 Mn in 2032, with sales growing at an average CAGR of 4.4% from 2022 to 2032. Predicted to reach an estimated US$ 2,457.4 Mn in 2022, the clad pipe market is witnessing a surge in demand due to the rising need to protect pipelines from corrosive maritime conditions. Clad pipes have a comparatively lower price than other CRA pipes which further propels the expansion of the clad pipe market over the forecast period.

Though CRA pipes are also used to deter corrosion, these pipes are considerably heavier and cost more than clad pipes, which leads to an increase in demand for clad pipes. Consequently, almost all major oil and gas firms are now inclined toward installing clad pipes for both onshore and offshore operations.

Hence, rising demand from the oil & gas industry along with the expansion of the same sector has a positive impact on the target market. In addition to this, due to high demand oil companies must find innovative technology to develop the heavy oil deposits. This is also true for gas, which is extremely corrosive. It is, thus, imperative that oil and gas developers make use of every technological advancement at their disposal to sustain maximum production. Again, the integrity of risers and flow lines also factors in the oil & gas industry’s operations, which ultimately culminates in heightened demand for corrosion-resistant clad pipes.

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The corrosion-resistant property of clad pipes is the key element that propels its sales in the market. Oil and gas sector transport many corrosive chemicals and gasses which necessitates the use of affordable and corrosion-resistant clad pipes. Thus, the immense use of clad pipes in the oil and gas sector is a primary growth driver of the target market.

Another consideration that has a positive impact on the target market is the advancing wastewater treatment operation occurring across the globe. Owing to an escalation in water contamination cases, wastewater management programs are also increasing. As clad pipes are durable and have a non-reactive nature, they are an ideal fit to transport wastewater from the industry to the treatment units. This, along with other factors, augments the global sales of clad pipes during the projected period.

“Extensive usage of the target product in the oil & gas sector, as well as wastewater treatment operations, will drive the global growth of the clad pipe market over the forecast period,” says an FMI analyst.  

Key Takeaways:

  • Construction difficulty and availability of cheaper alternatives may hinder the market growth.
  • Asia Pacific is anticipated to display significant market growth during 2022-2032.
  • Countries in Europe, Africa, and the Middle East offer lucrative market opportunities.
  • Increasing investment in the oil & gas sector drives the target market growth in North America.
  • Strong presence of mining and energy firms propels the market demand in South America.

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Competitive Landscape 

The Japan Steel Works, Ltd, NobelClad, Proclad, Inox Tech, Tenaris SA, Eisenbau Krämer GmbH, EEW Group, IODS Pipe Clad Ltd, BUTTING Group, Cladtek Holdings Pte Ltd, Gieminox Tectubi Raccordi S.R.L., Canadoil Group Ltd, Jiuli Group, Precision Castparts Corp, and Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd., among others are some of the major players in the clad pipe market profiled in the full version of the report.

Leading market players are focusing on capacity expansion to cater to the overall demand. These organizations are keen on increasing their investments in advanced machinery for their production facilities to gain a competitive edge.

More Insights into Clad Pipe Market Report

In its latest report, FMI offers an unbiased analysis of the global clad pipe market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of pipe type (metallurgical bonded, mechanically lined, weld overlay), grade (316, 625, 825, others),  outer diameter (4-12 inch, 12-24 inch, 24-48 inch, 48-60 inch, 60-120 inch), wall thickness (3-6 mm, 6-18 mm, 18-36 mm, 36-60 mm, 60-120mm), and region.

According to the latest FMI reports, based on region, during the forecast period, the Asia Pacific region is expected to exhibit substantial target market growth. The increasing willingness of market players to invest and expand their facilities in this region will likely drive market growth in the Asia Pacific. Europe, Africa, and the Middle East are a few other regions that show great growth potential for the clad pipe market. The strong presence of major gas and oil companies in North America will lead to the region’s continued market dominance during 2022-2032.

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

To be continued…!

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