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Global Thermoplastic Pipe Market 2024 - By End-User Analysis, Competitive Landscape And Industry Overview 2033
Global Thermoplastic Pipe Market
As per the report, 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 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%.
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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.
Product Innovations Drive Advancements In The Thermoplastic Pipe Market
Product innovations are the key trend gaining popularity in the thermoplastic pipe market. Major companies operating in the market are developing innovative thermoplastic pipes with advanced features such as fire and corrosion resistance, lightweight construction, integrated reinforcement layers, unique end-uses, and others to sustain their position in the market. For instance, in March 2022, GP Piping Systems, a Switzerland-based company operating in thermoplastic pipes launched Heat-fit, an innovative fire-retardant solution for thermoplastic pipes in the shipbuilding industry. This is the first-fire-retardant pipe jacket solution for providing a corrosion-free, and lightweight thermoplastic piping system used in various applications such as merchant vessels, offshore platforms, and onboard cruise ships.
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
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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
Contents of the report:
1. Executive Summary
2. Thermoplastic Pipe Market Report Structure
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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