Thermoplastic Pipe Market is Projected to Reach $3.3 billion by 2026: Top Players are NOV, Wienerberger, TechnipFMC , Georg Fischer

According to a new market research report, the thermoplastic pipe market is expected to grow from an estimated USD 2.7 billion in 2021 to USD 3.3 billion by 2026, at a CAGR of 4.5% during the forecast period. The increasing application of thermoplastic composite pipes and reinforced thermoplastic pipes in offshore and onshore production activities is the main driver for the thermoplastic pipe market. The growing deep and ultra-deepwater oil & gas exploration and production activities are expected to provide lucrative opportunities for the thermoplastic pipe market during the forecast period.

Key Market Players:
A few major players that have a wide regional presence dominate the thermoplastic pipe market. The leading players in the thermoplastic pipe market include NOV (US), Wienerberger (Austria), TechnipFMC (UK), Georg Fischer (Switzerland), and Advanced Drainage Systems (US). The major strategies adopted by these players include new product launches, sales contracts, agreements, expansions, acquisitions, joint ventures, collaborations and investments.

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The onshore segment is expected to dominate the thermoplastic pipe market, by application, during the forecast period.

The onshore segment is expected to hold the largest market share and also grow at the fastest rate during the forecast period. Thermoplastic pipes are used in onshore industry for various applications including high pressure water injection pipelines and transportation, among others.

The polyethylene segment is expected to be the largest thermoplastic pipe market, by polymer type, during the forecast period. 

The polyethylene held the largest share of the thermoplastic pipe market owing to its light weight, flexibility, and easy to weld properties. There are two variants of PE pipes available in the market, i.e. HDPE (high-density polyethylene pipes) and PEX (cross-linked polyethylene). The crosslinked structure of polyethylene enhances the toughness and temperature resistance of the material. This enables the content to be specified for use in more harsh environments both at lower and higher temperatures.

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Asia Pacific likely to emerge as the largest thermoplastic pipe market.

In this report, the thermoplastic pipe market has been analyzed for five regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. The growth of the Asia Pacific market is driven by urbanization and industrialization growth along with increasing mining activities in China, Australia, and India.

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