Thermoplastic Pipe Market by Product Type (TCP and RTP), Polymer Type (PE, PP, PVDF, PVC, Others), Application (Onshore & Offshore), End-user Industry (Oil & Gas, Water & Wastewater Treatment, Mining & Dredging), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Thermoplastic Pipe Market Overview
The global thermoplastic pipe market size is projected to reach a CAGR of 5.9% from 2022-2028. The market reached 2.9 billion in 2022 and touched 3.8 billion by 2028. The base year taken for the study 2021 and the forecast period is from 2022-2028.
Thermoplastic pipes have unique properties such as flexibility, excellent chemical resistance, low installation cost, high mechanical strength, greater flow and rust resistant features. Owing to above unique properties, these pipes are preferred over metal pipes and considered as the best option for oil and gas offshore drilling practices. Typically, the materials used in the construction of the pipe might be Polyethylene (PE), Polyamide-11 or PVDF and may be reinforced with Aramid or Polyester fibre although other combinations are used. Over the last few years this type of pipe has been acknowledged as a standard alternative solution to steel for oilfield flowline applications by certain oil companies and operators.
More recently the technology of producing such pipe, including the marketing, rests with a few key companies, where it is available in coils up to 400 m (1,312 ft) length. These pipes are available in pressure ratings from 30 to 90 bar (3 to 9 MPa; 435 to 1,305 psi)
The increasing application of thermoplastic composite pipes and reinforced thermoplastic pipes in offshore and onshore production activities, increasing applications of thermoplastic pipe across sectors such as oil & gas, chemical, mining & dredging and municipal along with application in deep water and ultra-deep-water are the major factors serving in high growth of the market. With this an increase in the number of applications for thermoplastic pipes with enhanced features will also provide lucrative opportunities for the market to grow at a rapid pace. The factor that can hamper the growth of the market is higher production cost with which there are difficulties in large scale manufacturing of thermoplastic composite pipe.
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The outbreak of the COVID-19 pandemic has had an adverse impact on the global economy as governments worldwide were forced to implement lockdowns to prevent the spread of the virus. Consequently, the operations of oil & gas transportation were disrupted.
The impact of the COVID-19 pandemic was the low demand for crude oil, leading to lower demand for thermoplastic pipes, which used to transport oil & gas to the end user’s site. You can check this website to know more about it.
Thermoplastic Pipe Market Regional Analysis
Geographically, the Thermoplastic Pipe Market is classified into four major regions i.e., North-America, Europe, Asia-Pacific and other countries. The largest share of the market will be dominated by the Asia-Pacific region during the forecast period. The high growth of the market is because of rapid urbanization and industrialisation along with increasing mining activities in regions like China, Australia and India. Moreover, the growing oil & gas activities is also helping the market to dominate in the region during the forecast period.
Thermoplastic Pipe Market Competitive Landscape
The prominent players Thermoplastic Pipe Market are:
- Simtech
- Chevron Philips Chemical Company LP
- KWH Pipe
- Technip
- Prysmian
- Advanced Drainage Systems Inc.
- Aetna Plastics
- National Oilwell Varco
- Airborne Oil & Gas B.V.
- Georg Fischer Piping Systems Ltd.
- IPEX Inc
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Thermoplastic Pipe Market Recent Developments
- In October 2021, TechnipFMC acquired the outstanding shares of Magma Global; the company will use Magma Global's technology to manufacture Thermoplastic Composite Pipes (TCPs) using PEEK polymer. TechnipFMC will combine Magma Global’s expertise with its flexible pipe technology to create a Hybrid Flexible Pipe (HFP) that will be deployed in the pre-salt fields of Brazil.
- In July 2021, Wienerberger acquired 100% of the shares of FloPlast and Cork Plastics. The product portfolios of both companies are focused on rainwater, roofline, and drainage products. Therefore, the acquisition is expected to help Wienerberger become a complete system provider for managed grey and stormwater solutions in the residential sector.
Reasons to Acquire in the Thermoplastic Pipe Market
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
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- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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