Thermoplastic Pipe Market Current Scenario and Future Prospects (2022-2030)

HTF Market Intelligence released a new research report of 212 pages on title 'Thermoplastic Pipe Market: Current Analysis and Forecast (2022-2030)' with detailed analysis, forecast and strategies. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources. The study covers key regions that includes LATAM, North America, MENA, Southeast Asia, Europe, APAC, United States or China and important players such as Advanced Drainage Systems Inc., Strohm B.V., TechnipFMC plc, Georg Fischer Ltd., Wienerberger AG, Baker Hughes Company, Chevron Phillips Chemical Company LLC, Saudi Arabian Amiantit Co., Simtech Process Systems, and Shawcor Ltd, etc.

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The global thermoplastic pipe market is expected to witness a CAGR of around 4% during the forecast period (2022-2030). This is mainly due to the rising application of thermoplastic pipes in offshore and onshore production activities are some other major drivers responsible for market growth. For instance, Strohm makes maiden foray into Western Australia with TCP Jumper Spools for Woodside's Julimar project. With the contract, the Strohm will supply 2" 10,000 psi TCP Jumper Spools to be used for Monoethylene Glycol (MEG) injection service. The TCP Jumper Spools are planned for delivery later this year and will be deployed in the Julimar field, located approximately 200 km offshore Northwestern Australia.
Thermoplastic pipes are made using polymer materials that are chemically processed and synthesized in substantial amounts. Its low corrosion and lower maintenance may propel its sales. Furthermore, they are an effective alternative to plumbing and piping solutions due to their advantages. Thus, the market is expected to witness significant growth during the forecast period.
Further, increasing use of thermoplastic pipes by the municipal sector for wastewater treatment and transportation, especially in developing nations across regions. Furthermore, the rising application of thermoplastic pipes in offshore and onshore production activities are some other major drivers responsible for market growth. Reinforced thermoplastic pipes (RTP) are being used in the oil & gas industry, where it is used to replace medium-pressure steel pipes. Various significant companies, which are certified for international standards, design pipes with a pressure capacity of up to 450 bar or 6527 psi and can be used for onshore applications. Moreover, the high corrosion rate of conventional pipes entices oil and gas companies to switch to thermoplastic pipes. Furthermore, the involvement of high corrosive fluid during enhances oil recovery (EOR) requires regular maintenance of conventional pipes. Thus, the growing replacement of EOR pipelines with the thermoplastic pipe is expected to create an opportunity as well.
Advanced Drainage Systems Inc., Strohm B.V., TechnipFMC plc, Georg Fischer Ltd., Wienerberger AG, Baker Hughes Company, Chevron Phillips Chemical Company LLC, Saudi Arabian Amiantit Co., Simtech Process Systems, and Shawcor Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
"Amongst Product Type, RTP accounted for the majority share in the market in 2020"
Based on product type, the market is classified into reinforced thermoplastic pipes (RTP) and thermoplastic composite pipes (TCP). In 2020, RTP accounted for the majority share in the market. Reinforced thermoplastic pipe (RTP) offers the advantages of corrosion resistance and is lightweight and is used in moderate temperature and pressure applications. Furthermore, an increasing number of horizontal wells during oil and gas activities coupled with high energy demand is expected to establish a major opportunity for market growth. At zero allowable water leakage, the HDPE pipes are highly efficient as compared to Polyvinyl Chloride (PVC) and ductile iron pipes, which have a leakage rate of 10% to 20%. Moreover, their resistance to corrosion and low weight contribute to the higher preference for HDPE pipes. Thus, growing utility installations, burgeoning investments in shale gas development projects, and rising adoption of cost-effective products in exploration activities is further expected to drive the market.
"Amongst Polymer Type, PE category is expected to witness the fastest growth rate during the forecast period"
Based on polymer type, the market is categorized into polyethylene (PE), polypropylene (PP), polyvinylidene fluoride (PVDF), polyvinyl chloride (PVC), and others. Amongst polymer type, the PE category is expected to witness the fastest growth rate during the forecast period. Oil and gas companies and mining companies seeking cost-cutting measures may be considering high-density polyethylene (HDPE) pipe as an alternative to steel pipe due to its cost-effectiveness. In addition, the use of HDPE pipe for wastewater and sewer applications has become increasingly popular due to pipe bursting, slip lining, and other trenchless installation methods. Moreover, nations across the world have enforced strict norms against polluting the naturally occurring water bodies and illegal discharge of wastewater. In countries such as China, which were severely impacted by air pollution, special laws have been implemented to protect it from the harmful impact of wastewater discharge. Thus, increasing awareness and investments in water and wastewater management is anticipated to create significant opportunities for market players.
"Amongst Application, the municipal category is expected to witness the fastest growth during the forecast period"
Based on application, the market is categorized into oil & gas, chemical, municipal, mining, and others. Among these, the oil & gas category accounted for a significant market share in 2020. However, the municipal category is expected to witness the fastest growth during the forecast period. This is mainly due to the increasing investments in water infrastructure and the rising number of desalination plants, thus resulting in the growing adoption of thermoplastic pipes in water and wastewater management. Furthermore, developing nations are speeding up construction projects in commercial as well as residential areas due to the rapid growth in the urban population. For instance, as per the World Bank Group, the urban population of India increased by more than 100 million in the last ten years. In 2020, the Indian urban population was ~480 million as compared to ~380 million in 2010. Thus, urbanization across the globe has resulted in expansion and increased demand for infrastructural developments and water supply, which has subsequently increased demand for thermoplastic pipes in the municipal sector.
"APAC to witness significant growth during the forecast period"
Asia-Pacific is expected to witness the highest CAGR in the thermoplastic pipe market, during the forecast period. The major contributors to the growth of this market are China, India, and Australia. The increase in infrastructure development in emerging economies, as well as the expansion of the oil and gas sector, coupled with the rising awareness and stringent regulations for efficient water treatment, are some factors responsible for the growth of the region's market. Although water withdrawals for domestic and municipal use globally account for a modest part of total water use, they are growing rapidly, especially due to population growth in the urban areas of developing countries. With the rapid growth in the region's population and urbanization, the global demand for thermoplastic pipes for water and wastewater transportation and treatment is further expected to witness significant growth. In addition, an increase in exploration activities in several Asia-Pacific countries such as China and India and the massive development of shale plays will further strengthen the market for thermoplastic pipes.

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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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