Press release
Thermoplastic Pipe Market Size, Share Analysis , Trends And Forecast 2033
Thermoplastic Pipe Market
The Business Research Company offers in-depth market insights through Thermoplastic Pipe Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The thermoplastic pipe market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to regulatory changes, infrastructure development, global economic conditions, environmental concerns.
The thermoplastic pipe market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing oil and gas industry, rising adoption of renewable energy, increasing usage of thermoplastic pipes, government regulations for safely transporting oil and natural gases. Major trends in the forecast period include material advancements, hybrid solutions and composites, adoption of advanced manufacturing techniques, innovation and competition.
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Market Segmentation:
The thermoplastic pipe market covered in this report is segmented -
1) By Product Type: Reinforced Thermoplastic Pipes (RTP), Thermoplastic Composite Pipes (TCP)
2) By Polymer Type: Polyethylene (PE), Polypropylene (PP), Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride (PVC), Other Polymer Types
3) By Application: Onshore, Offshore
4) By End-User: Oil And Gas, Water And Wastewater, Mining And Dredging, Utilities And Renewables
Major Driver - Oil And Gas Industry's Demand Boosts Thermoplastic Pipe Market For Corrosion Resistance
Increasing demand from the oil and gas industry for corrosion-resistive is expected to propel the growth of the thermoplastic pipe market going forward. Pipeline corrosion is the oxidation and electrochemical disintegration of a pipe's structure. The use of thermoplastics in the production and transportation of oil and gas is emerging as a practical and reliable corrosion-mitigation solution. These pipelines are lighter and more resistant to corrosion than metals, allowing oil and gas corporations to explore and produce from deeper offshore oilfields. For instance, in January 2023, according to the Association for Materials Protection and Performance (AMPP), a US-based non-profit organization, the yearly cost of corrosion to the oil and gas sector in the United States is estimated to be $27 billion, with others estimating the global annual cost of corrosion to the industry to be more than $60 billion. Therefore, increasing demand from the oil and gas industry for corrosion-resistive drives the thermoplastic pipe market.
Competitive Landscape:
Major companies operating in the thermoplastic pipe market report are Baker Hughes Company, Prysmian Group, Chevron Phillips Chemical Company LLC, Uponor Corporation, National Oilwell Varco, Inc, TechnipFMC plc, Wienerberger AG, Georg Fischer Ltd, Mueller Industries, Inc., GF Piping Systems, Inteplast Group, Advanced Drainage Systems Inc, JM Eagle Inc., Shawcor Ltd, Pipelife, IPEX Inc, Pes-Tec Germany, Nibco Inc., Saudi Arabian Amiantit Co, Strohm BV, Aetna Plastics Corp, Pexmart CC, Wavin India Pipes and Fittings Manufacturing Private Limited, Polyplastic, Algriplast, National Material Company, Plasti-Fab Inc., Genova Industries, Corzan Piping Systems, Sioux Group
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Top Trend - Market Drive Innovation With Reinforced Thermoplastic Pipe (RTP) Technology
Major companies operating in the thermoplastic pipe market are focusing on technological innovation such as reinforced thermoplastic pipe (RTP) technology. Reinforced Thermoplastic Pipe (RTP) technology is a type of pipe technology that enables faster installation, reduced time to first production, and lower lifecycle emissions over traditional steel pipelines. For instance, in November 2023, Baker Hughes Company, a US-based energy technology company, launched its new PythonPipe portfolio, which is a reinforced thermoplastic pipe (RTP) technology. The PythonPipe portfolio consists of American Petroleum Institute 15s-qualified, flexible, and non-metallic RTP with various sizes, materials, and liner options. It offers up to a 60% reduction in installation time and is available at one-fifth the cost of comparative steel installation. Additionally, it can achieve up to a 75% reduction in carbon emissions throughout its lifecycle, up to an 80% reduction in maintenance costs, and up to a 60% reduction in the required crew.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Thermoplastic Pipe Market Characteristics
3. Thermoplastic Pipe Market Trends And Strategies
4. Thermoplastic Pipe Market - Macro Economic Scenario
5. Thermoplastic Pipe Market Size And Growth
…..
27. Thermoplastic Pipe Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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