Press release
Oil And Gas Industry's Demand Boosts Thermoplastic Pipe Market For Corrosion Resistance: A Key Driver Powering Thermoplastic Pipe Market Growth In 2025
Thermoplastic Pipe
What Is the Projected Growth of the Thermoplastic Pipe Market?
In recent years, the thermoplastic pipe market has seen exponential growth. The market is projected to expand from $3.21 billion in 2024 to $3.41 billion in 2025, demonstrating a Compound Annual Growth Rate (CAGR) of 6.1%. This growth during the historical period is driven by factors such as regulatory amendments, infrastructure advancements, global economic scenarios, and environmental issues.
In the coming years, the market size for thermoplastic pipes is anticipated to experience substantial expansion, reaching $4.42 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in this timeframe can be linked to the expansion of the oil and gas sector, increased usage of renewables, a surge in the utilization of thermoplastic pipes and governmental mandates aimed at safe transportation of oil and natural gases. The forecast period is likely to witness trends such as advancements in materials, hybrid solutions and composites, the implementation of cutting-edge manufacturing strategies, and innovation fostered by competition.
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What Are the Different Thermoplastic Pipe Market Segments?
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
Subsegments:
1) By Reinforced Thermoplastic Pipes (RTP): Glass-fiber Reinforced RTP, Carbon-fiber Reinforced RTP, Other Reinforced RTP (Aramid Fiber)
2) By Thermoplastic Composite Pipes (TCP): Polyethylene (PE) Composite Pipes, Polypropylene (PP) Composite Pipes, Other Thermoplastic Composite Materials
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What Are the Primary Drivers Shaping the Thermoplastic Pipe Market?
The thermoplastic pipe market is set to expand, driven by the escalating demand from the oil and gas sector for corrosion-resistant solutions. Pipeline corrosion, defined as the oxidation and electrochemical breakdown of a pipe's structure, can be effectively countered by thermoplastics. Their use in oil and gas production and transportation is becoming an increasingly popular way to combat corrosion. These pipes offer lighter and more corrosion-resistant alternatives compared to metals, enabling exploration and production activities in deeper offshore oilfields by oil and gas companies. For example, in January 2023, the Association for Materials Protection and Performance (AMPP), a non-profit organization based in the US, stated that the annual cost of corrosion to the oil and gas sector in the country is around $27 billion. Other sources estimate that the global annual cost of corrosion to the sector exceeds $60 billion. As a result, the rising demand from the oil and gas sector for corrosion-resistant solutions is fueling the growth of the thermoplastic pipe market.
Which Companies Are Leading in the Thermoplastic Pipe Market?
Major companies operating in the thermoplastic pipe market include 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
What Are the Major Trends Shaping the Thermoplastic Pipe Market?
Innovation in products is becoming a key trend in the thermoplastic pipe market. Leading companies in this market are driving this trend, creating advanced thermoplastic pipes with unique features such as fire and corrosion resistance, lightweight structure, integrated reinforcement layers, and specific end-uses, allowing them to maintain their competitive edge. To illustrate, GP Piping Systems, a company based in Switzerland specializing in thermoplastic pipes, introduced Heat-fit in March 2022. This innovative, fire-resistant solution for thermoplastic pipes is a pioneer in the shipbuilding industry, providing a corrosion-free, lightweight thermoplastic piping system that has various applications, including merchant vessels, offshore platforms, and onboard cruise ships.
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What Are the Top Revenue-Generating Geographies in the Thermoplastic Pipe Market?
Asia-Pacific was the largest region in the thermoplastic pipes market share in 2024. The regions covered in the thermoplastic pipe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Thermoplastic Pipe Market?
2. What is the CAGR expected in the Thermoplastic Pipe Market?
3. What Are the Key Innovations Transforming the Thermoplastic Pipe Industry?
4. Which Region Is Leading the Thermoplastic Pipe Market?
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