Press release
Reinforced Thermoplastic Pipes (RTP) Market Size, Share, Global Forecast to 2022-28
Precision Business Insights published a research report on research report "Reinforced Thermoplastic Pipes (RTP) Market: By Product (Metallic RTP and Non-Metallic RTP), By Application (Water Injection Lines, Oil Flow Lines, Gas Distribution Networks, and Others), and Geography- Global/Region/Country Forecast to 2028". Reinforced thermoplastic pipes (RTP) market size is valued at USD 2.73 billion in the year 2021 and is projected to grow at USD 3.77 billion till 2028 witnessing a CAGR rate of 4.5 percent during the evaluation time span 2022-2028.Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on "Reinforced Thermoplastic Pipes (RTP) Market: By Product (Metallic RTP and Non-Metallic RTP), By Application (Water Injection Lines, Oil Flow Lines, Gas Distribution Networks, and Others), and Geography- Global/Region/Country Forecast to 2028".
View detailed report description at https://precisionbusinessinsights.com/market-reports/reinforced-thermoplastic-pipes-rtp-market/
An overview on the Reinforced Thermoplastic Pipes (RTP) Market
Reinforced thermoplastic pipe (RTP) refers to the best quality steel wire reinforced channel framework. Polyamide-11 and Polyethylene (PE) are normally utilized in channel construction and they may be strengthened with high-quality steel wire, but various mixtures are used. It may also be accessed in loops up to 400 meters long. The funnels come in different pressure ratings ranging from 30 to 450 bars. Current innovations include gas tight RTP and RTP for high working temperatures. Reinforced thermoplastic pipes are used in a variety of on-and off-shore applications including high-weight water infusion. Gas pipelines, water transport systems, oil and gas flow lines and gushing water removal are all examples of high-weight water infusion pipes.
There are a few leading factors that fuel the global reinforced thermoplastic pipes (RTP) market such as rigid water and wastewater treatment guidelines in European economies, expanding deep as well as ultra-deep water oil and gas production and exploration in different locations and expanding mining activities in India, China and Australia. But, a few figures like crude material change, considerable creation cost and accessibility of crude material have an effect on the entire development of the worldwide reinforced thermoplastic pipes (RTP) market.
Asia Pacific accounted for larger revenue share in Reinforced Thermoplastic Pipes (RTP) Market:
Asia Pacific witnessed major revenue share in the year 2019 followed by two regions such as Europe and North America, the global reinforced thermoplastic pipes market. Asia pacific is expected to witness a considerable CAGR rate over the evaluation time span due to the increase in the use of reinforced thermoplastic pipes in oil as well as gas industry coupled with huge consumption of oil and gas in the world. One of the major consumers of oil and gas is China on international level but, the production technology is comparatively laggard for producing some low-end product. Growing demand for reinforced thermoplastic pipes (RTP) in Middle East countries is expected to impel the market growth.
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Competitive Analysis - Reinforced Thermoplastic Pipes (RTP) Market
There are a few major players operating in the reinforced thermoplastic pipes market such as Technip, GE Oil and Gas (Wellstream), National Oilwell Varco (NKT Flexibles), Sahwcor (Flexpipe Systems) and Flexsteel. Key players in the market significantly focus on major developments in technology and collaboration strategies to strengthen their position in the global market. These players also concentrate on increasing the product portfolio.
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