Agreement between Trelleborg Industrial Hoses and Wellcall Holdings to Enable Growth
The increasing collaborations and agreements between key companies can have an excellent effect on the global market. For instance, in January 2019, Trelleborg industrial hoses entered a joint venture with Wellcall Holdings, a Malaysian manufacturer of hoses, to manufacture and sell hoses in the local market and further strengthen its position. The surging demand for oil and petroleum around the world is expected to drive the need for oil hoses.
Moreover, the hoses made from different materials depending upon the applications prove to be one of the convenient ways of transportation, which is likely to boost the market. Oil hoses are flexible, and hollow tubes are intended to carry fluids or oils from one point to another. The hoses are cylindrical in shape. PVC, natural rubber, nylon, polyurethane, polyethylene, and metals like steel are used to make hoses. In the oil industry, the hoses used are high-pressure hoses and are employed to move the fluids under high pressure. They are also used to load crude oils and petroleum products from offshore industrial sites to the vessels in storage facilities and vice versa. However, technological advancements in transportation techniques and inclination towards other alternatives can subsequently hamper the market's growth.