Pune, India, January 27, 2021 (GLOBE NEWSWIRE) – The oil pipes market highlights an in-depth study of the industry, while shedding light on essential facts and figures. It also offers relevant data on dominant regions, policies adopted by governments and companies. In addition, provide a brief overview of the market with future prospects. The report also encompasses critical growth factors. In addition, the impact of COVID-19 is also covered in the report.
Growing demand for petroleum and petroleum is expected to foster healthy growth in the oil pipe market, says Fortune Business Insights, in a report titled “Oil Pipe Market Size, Share and Industry Analysis, By Type (Plastic Pipe, Rubber Pipe, Steel Pipe, Others), By Application (Chemical, Pharmaceutical, Automotive, Petroleum, others) and regional forecasts 2020-2027. ”
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The list of major companies profiled in the global oil pipes market are:
- Saint-Gobain Performance plastics
- Parker Hannifin
- Codan rubber
- Jinyuan rubber
- ContiTech Group
- Trelleborg industrial pipe
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Key market driver:
Agreement between Trelleborg Industrial Hoses and Wellcall Holdings to enable growth
Growing collaborations and agreements between key companies can have an excellent effect in the global market. For example, in January 2019, Trelleborg Industrial Hoses entered into a joint venture with Wellcall Holdings, a Malaysian hose manufacturer, to manufacture and sell hoses in the local market and further strengthen its position. The growing demand for petroleum and petroleum in the world is expected to increase the need for oil pipes.
In addition, the pipes made of different materials depending on the applications are proving to be one of the convenient transportation means, which is likely to boost the market. The oil hoses are flexible and the hollow tubes are intended to transport fluids or oils from one point to another. The pipes are cylindrical in shape. PVC, natural rubber, nylon, polyurethane, polyethylene, and metals like steel are used to make pipes. In the petroleum industry, the hoses used are high pressure hoses and are used to move fluids under high pressure. They are also used to load crude oil and petroleum products from offshore industrial sites to vessels in storage facilities and vice versa. However, technological advancements in transportation techniques and the inclination towards other alternatives may subsequently hamper the growth of the market.
Regional analysis:
Strong oil demand to boost growth in Asia-Pacific
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Latin America is the largest market for oil pipes, attributed to the largest oil reserves in countries like Venezuela and Brazil. The Middle East and Africa is expected to hold the second largest share of the global oil pipe market due to the oil and oil reserves of countries like Saudi Arabia, Iran, Iraq, Kuwait and the United Arab Emirates.
Asia-Pacific is expected to hold the highest share during the forecast period due to strong oil demand from Asian countries. China ranks second for total oil consumption. North America is expected to show significant growth due to the growth of the oil and gas industry. Europe is expected to experience considerable growth due to increased exploration activity in the region.
Key development
June 2018: Saint Gobain presented Versilon, a steel reinforced fluoropolymer hose designed to meet the demands of fluid applications.
Browse the detailed summary of the research report with TOC:
https://www.fortunebusinessinsights.com/oil-hose-market-103451
Answer to the key question:
- Professional opportunities
- Business challenges
- Request information
- CAGR values
- Historical analysis
- Detailed segmentation
- Data from top companies
- Market size
- Supply trend
- Target audience
- Key geographies
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