A non-rotating drill pipe protector sleeve is molded in situ around a drill pipe tubing. The inner surface of the molded protector sleeve can be shaped to form a fluid bearing during use. Fixed stop collars may be molded in situ in the same mold and bonded to the tubing at opposing ends of the molded sleeve. Alternatively, a flexible sleeve liner made from a material having a hardness less than that of the sleeve's molding material can be used as a mold insert around the tubing. The liner can be bonded to the molded sleeve material when the sleeve is molded around the liner. The interior surface of the liner can be shaped to form a fluid bearing for the inside surface of the molded sleeve. Reinforcing inserts and wear pads can be placed in the mold region of the sleeve. Chemical and/or mechanical bonding is provided between the liner reinforcement and the material from which the sleeve is molded. Reinforcing inserts and wear pads also can be placed in the mold regions for the stop collars.