(MENAFN- GlobeNewsWire - Nasdaq) Deepwater projects, FPSO adoption and cost-efficient subsea tie-backs drive demand, while corrosion-resistant TCP and CCUS-ready designs unlock new opportunitiesDublin, Oct. 22, 2026 (GLOBE NEWSWIRE) -- "Offshore Flexible Pipe Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031F" has been added to ResearchAndMarkets.com's offering.
The global offshore flexible pipe market is projected to grow from USD 876.38 million in 2025 to USD 1.27 billion by 2031, registering a compound annual growth rate of 6.48%. Market expansion is being supported by rising deepwater and ultra-deepwater oil and gas exploration, increased deployment of Floating Production Storage and Offloading (FPSO) systems, and growing investment in subsea tie-backs for marginal field development.
Offshore flexible pipes are custom-engineered using helically wound metallic and polymer layers to transfer fluids between subsea wellheads and surface production facilities. Their ability to accommodate platform movement, hydrostatic pressure, ocean currents, and complex seabed conditions makes them essential for projects where rigid piping systems may be impractical.
Investment across the wider subsea infrastructure sector remains strong. The United Kingdom's underwater industry reached £9.2 billion in 2024, according to the Global Underwater Hub. However, concerns surrounding flexible riser durability, annulus corrosion, and fatigue continue to affect adoption in high-pressure and harsh offshore environments.
Market Drivers
Increasing deepwater and ultra-deepwater exploration is a major driver of offshore flexible pipe market growth. As operators move into deeper waters, floating production platforms require riser systems capable of withstanding intense pressures and continuous movement. Flexible pipes offer the dynamic performance needed for these demanding offshore applications.
Industry order activity reflects continued investment in deepwater infrastructure. In October 2024, TechnipFMC reported USD 2.5 billion in Subsea inbound orders for the third quarter of 2024. Subsea7 also reported an USD 11.3 billion backlog in 2024, demonstrating sustained demand for subsea equipment and installation services.
The expanding FPSO market is also increasing demand for offshore flexible risers. FPSO vessels require flexible systems that can manage wave-induced movement while isolating hull motion from subsea infrastructure. In May 2024, Seatrium Limited secured an S$11 billion contract from Petrobras to construct two FPSO platforms, highlighting significant capital investment in offshore production capacity.
Market Challenges
Material integrity remains a primary challenge for the global offshore flexible pipe market. Annulus corrosion, fatigue, and exposure to high-pressure operating conditions can compromise structural performance, shorten asset lifecycles, and increase the risk of leaks or failures. These issues create a need for frequent inspections, specialized maintenance, and more extensive integrity management programs.
Durability concerns may lead operators to select rigid piping systems or postpone projects in technically challenging locations. Lifecycle costs are particularly important for marginal fields, where unplanned maintenance or premature decommissioning can reduce project profitability. Offshore Energies UK reported that annual decommissioning expenditure exceeded £2 billion for the first time in 2024, illustrating the financial implications of managing aging offshore infrastructure.
Market Trends
The accelerated adoption of Thermoplastic Composite Pipes (TCP) is reshaping offshore procurement. These lightweight, non-corrosive systems can reduce top-tension weight and address sulphide stress cracking risks in ultra-deepwater and corrosive environments. In July 2024, Strohm announced its largest commercial contract to supply thermoplastic composite flowlines for a TotalEnergies EP Brasil pre-salt field in the Santos Basin.
Carbon Capture, Utilization, and Storage (CCUS) is creating additional opportunities for flexible pipes engineered to transport and reinject carbon dioxide. These applications require specialized barrier layers capable of addressing CO2 permeation, rapid decompression, and stress-induced corrosion risks.
In October 2024, Baker Hughes secured a contract to provide Petrobras with 77 kilometers of flexible pipe systems. The systems are designed to resist stress-induced corrosion cracking in high-CO2 pre-salt fields and support lower-carbon offshore production objectives. Continued development of corrosion-resistant materials and specialized pipe structures is expected to strengthen market opportunities across oil and gas production and carbon management projects.
Key Market Players
National Oilwell Varco TechnipFMC PLC The Prysmian Group GE Oil & Gas Corporation Shawcor Ltd Pipelife Nederland B.V. Airborne Oil & Gas BV Magma Global Ltd ContiTech AG Chevron Phillips Chemical Company LLC
Report Scope
The global offshore flexible pipe market report evaluates market size, growth drivers, challenges, emerging technologies, application trends, and regional opportunities. Market segmentation includes raw material and geography.
Offshore Flexible Pipe Market, by Raw Material:
High-density Polyethylene Polyamides Polyvinylidene Fluoride
Offshore Flexible Pipe Market, by Region:
North America Europe Asia Pacific South America Middle East & Africa
Key Attributes:
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