NEW YORK, United States, May 10, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Thermoplastic Pipe Market By Product (Reinforced Thermoplastic Pipes And Thermoplastic Composite Pipes), By Polymer Type (Polyethylene, Polypropylene, Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride And Others), By Application (Onshore And Offshore), By Industry Vertical (Oil & Gas, Water & Wastewater, Mining & Dredging, And Utilities & Renewables) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Thermoplastic Pipe Market size & share in terms of revenue was valued at USD 2.8 billion in 2022 and it is expected to surpass around USD 4.2 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.5% during the forecast period 2023 to 2030.”
What is Thermoplastic Pipe? How big is the Thermoplastic Pipe Industry?
Report Overview:
The study investigates the factors that are driving the worldwide thermoplastic pipe market, the factors that are restraining or challenging it, and the effect that these factors will have on demand over the course of the forecast period. In addition to this, the research investigates new possibilities that are opening up in the thermoplastic pipe sector.
Thermoplastic pipes have characteristics that are one of a kind, such as the ability to be flexible, to have a lower cost of installation, to have a higher flow rate, to have superior chemical resistance, to have a high mechanical strength, and to be resistant to rust. The thermoplastic pipes are favoured over the metal pipes, and as a result, they are utilised extensively in gas and oil offshore drilling. This preference is due to the favourable features supplied by the thermoplastic pipes. The chemical industry, municipal government, and the mining and dredging industries are some of the other application areas in which thermoplastics are utilised.
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- Includes Tables and figures have been updated
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- Zion Market Research Methodology
Global Thermoplastic Pipe Market: Growth Factors & Restraints
The expansion of the market is being driven by the rising demand from the oil and gas industries.
It is projected that an increase in demand from the oil and gas sector for materials that are resistant to corrosion would be the primary driver of future market expansion for thermoplastic pipes. Pipeline corrosion results in the oxidation and electrochemical degradation of the structure of a pipe over time. The use of thermoplastics in the production and transportation of oil and gas is an efficient and effective approach for preventing corrosion. This method is also very cost-effective.
Because of these pipes' lighter weight and greater resilience to corrosion in comparison to metals, oil and gas firms are now able to explore and produce from oilfields that are located further offshore. For example, in May 2020, Oil Review Middle East, a publication devoted to the oil and gas business in the Middle East, reported that the cost of corrosion to the worldwide oil and gas industry was predicted to be larger than USD 60 billion, with the United States paying for an estimated $27 billion towards the overall sum. It is estimated that annual damages to the global economy caused by corrosion in refineries amount to USD 15 billion in this region.
The increasing demand for materials that are resistant to corrosion in the oil and gas industry is the primary factor driving growth in the market for thermoplastic pipes.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 2.8 Billion |
| Projected Market Size in 2030 | USD 4.2 Billion |
| CAGR Growth Rate | 5.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | GFD, SoluForce B.V., Saudi Arabian Amiantit Co., Alwasail Industrial Company, Solvay, PETRON THERMOPLAST, Harwal Group of Companies, Baker Hughes Company, PESTEC, Strohm, SuKo Polymer Machine Tech Co., Ltd., TOPOLO, GULF PLASTIC INDUSTRIES, KPT Piping System, Saumya Technocrates Pvt. Ltd., IPEX, Simtech, Truflo and ATP polymer among others. |
| Key Segment | By Product, Polymer Type, Application, Industry Vertical, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Thermoplastic Pipe Market: Segmentation Analysis
The global market for thermoplastic pipe may be broken down into distinct submarkets on the basis of the product, the kind of polymer, the application, the industry vertical, and the geography.
The global market for thermoplastic pipes can be broken down into two categories, reinforced thermoplastic pipes and thermoplastic composite pipes, according to the product. Over the course of the projection period, it is anticipated that reinforced thermoplastic pipes will have the majority share of the market. The expansion in this sector can be due to the features of the material, which include high strength, ultra-low permeability, resilience to high pressure and high temperatures, as well as resistance to corrosion. It is also the most cost-effective alternative to steel pipes, making it applicable in many different industries, including the oil and gas industry, the chemical industry, and others. This makes it the ideal alternative to steel pipes. As a result of this aspect, the demand for RTP during the timeframe that was forecast will increase at an exponential rate.
Polyethylene, polypropylene, polyvinylidene fluoride (PVDF), polyvinyl chloride, and other types of thermoplastics make up the majority of the worldwide thermoplastic pipe market. Other types of thermoplastics include others. During the time period covered by the forecast, it is anticipated that the polyethylene sector would seize the greatest share of the market. Polyethylene is a robust thermoplastic material that is used for a wide variety of pressure applications such as the transportation of drinking water and natural gas, irrigation, sewers and drainage lines. Other applications include drainage lines and sewers. In addition, PE pipe can be extruded in a number of different sizes. It is not only lightweight but also flexible and easy to weld. The inside of it has a smooth surface, which allows for superior flow characteristics. Continuous research into the material has resulted in significant improvements to its performance, which has led to a rapid increase in its utilization by major water and gas utility companies across the globe.
Due to the fact that the pipes may be welded, they can be butt-welded or electrofused-welded to longer lengths, which results in joints that are more durable. As a result of these advantages, private equity currently commands the highest market share in 2022.
The market can be broken down into onshore and offshore categories depending on the application.
The market is segmented into the following categories according to the industrial vertical: oil and gas, water and wastewater, mining and dredging, and utilities and renewables.
The global Thermoplastic Pipe market is segmented as follows:
By Product
- Reinforced Thermoplastic Pipes
- Thermoplastic Composite Pipes
By Polymer Type
- Polyethylene
- Polypropylene
- Polyvinylidene Fluoride (PVDF)
- Polyvinyl Chloride
- Others
By Application
- Onshore
- Offshore
By Industry Vertical
- Oil & Gas
- Water & Wastewater
- Mining & Dredging
- Utilities & Renewables
Browse the full “Thermoplastic Pipe Market By Product (Reinforced Thermoplastic Pipes And Thermoplastic Composite Pipes), By Polymer Type (Polyethylene, Polypropylene, Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride And Others), By Application (Onshore And Offshore), By Industry Vertical (Oil & Gas, Water & Wastewater, Mining & Dredging, And Utilities & Renewables) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: Report at https://www.zionmarketresearch.com/report/thermoplastic-pipe-market
Competitive Landscape
Some of the main competitors dominating the global Thermoplastic Pipe market include -
- GFD
- SoluForce B.V.
- Saudi Arabian Amiantit Co.
- Alwasail Industrial Company
- Solvay
- PETRON THERMOPLAST
- Harwal Group of Companies
- Baker Hughes Company
- PESTEC
- Strohm
- SuKo Polymer Machine Tech Co. Ltd.
- TOPOLO
- GULF PLASTIC INDUSTRIES
- KPT Piping System
- Saumya Technocrates Pvt. Ltd.
- IPEX
- Simtech
- Truflo and ATP polymer
- Among Others.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Thermoplastic Pipe market is likely to expand at a CAGR of around 5.5% during the forecast period (2023-2030).
- In terms of revenue, the Thermoplastic Pipe market size was valued at around US$ 2.8 billion in 2022 and is projected to reach US$ 4.2 billion by 2030.
- The growing demand for thermoplastic pipes from various end-use industries is expected to drive thermoplastic pipe market growth over the forecast period.
- Based on the product, reinforced thermoplastic pipes are expected to dominate the market over the forecast period.
- Based on the polymer type, the polyethylene segment is expected to capture the largest market share during the forecast period.
- Based on region, the Asia Pacific is expected to capture the largest market share over the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Thermoplastic Pipe industry?
- What are the main driving factors propelling the Thermoplastic Pipe Market forward?
- What are the leading companies in the Thermoplastic Pipe Industry?
- What segments does the Thermoplastic Pipe Market cover?
- How can I receive a free copy of the Thermoplastic Pipe Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product, Polymer Type, Application, Industry Vertical, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia Pacific is expected to capture the largest thermoplastic pipe market share during the forecast period. The regional growth is attributed to the increasing energy demand with a growing population base in the region and the growing emphasis by the governments on renewable sources of energy. For instance, according to secondary sources, in 2021, the Asia Pacific region's primary energy consumption was 272.45 exajoules, an increase of more than 6% over the previous year.
North America is expected to grow at a rapid pace over the projected period. The growth in the North American region is attributed to the growing demand for thermoplastic pipes from the water and wastewater industry and the growing exploration and production activity in the oil & gas industry. For instance, as per the US Energy Information Administration, US dry natural gas production from shale accounted 28.5 trillion cubic feet in 2022 which is around 80% of total US dry natural gas production.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Developments
- In October 2021, TechnipFMC acquired Magma Global, the leading provider of composite pipe technology to support the Energy Transition. Magma technology enables the manufacturing of Thermoplastic Composite Pipe (TCP) from Polyether Ether Ketone (PEEK) polymer, which is exceptionally resistant to corrosive substances such as CO2. With this collaboration, both companies develop a Hybrid Flexible Pipe (HFP) that will be used in the Brazilian pre-salt areas.
- In June 2022, the Wienerberger Group, the world's leading supplier of building materials and infrastructure solutions, acquired Vargon d.o.o. Through the acquisition, the company strengthens the market position of its Piping Solutions Business Unit in South-Eastern Europe.
- In February 2022, SIMONA AG acquired PEAK Pipe Systems Limited. The acquisition will help SIMONA Group's strategy realignment, to achieve a strong emphasis on applications while assisting the Group in its efforts to reach its growth ambitions in the EMEA infrastructure and aquaculture industries. Furthermore, as a result of the acquisition, the Group's product portfolio in the UK will be significantly expanded, while its overall position in this attractive, niche market will be strengthened.
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