Press release
Thermoplastic Pipe Industry Outlook 2025-2029: Market Set to Cross $4.42 Billion Milestone
Thermoplastic Pipe
What Will the Thermoplastic Pipe Industry Market Size Be by 2025?
The market size of thermoplastic pipes has witnessed a significant surge in the past few years. The market, which was valued at $3.21 billion in 2024, is expected to rise to $3.41 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The historic period of growth can be credited to various factors such as regulatory modifications, infrastructure advancement, global economic conditions, and concerns pertaining to the environment.
What's the Long-Term Growth Forecast for the Thermoplastic Pipe Market Size Through 2029?
The market size of thermoplastic pipes is predicted to witness substantial expansion in the coming years, reaching $4.42 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. This anticipated growth during the forecast period is due, in part, to the burgeoning oil and gas sector, increasing adoption of renewable energy, growing use of thermoplastic pipes, and governmental safety mandates for oil and gas transport. Significant trends expected throughout the forecast period include developments in materials, hybrid solutions and composites, the adoption of sophisticated manufacturing methods, and the ongoing innovation and competitiveness.
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What Are the Key Growth Drivers Fueling the Thermoplastic Pipe Market Expansion?
The escalation in need for corrosion-resistant materials from the oil and gas industry is anticipated to boost the expansion of the thermoplastic pipe market in the future. The deterioration and oxidation of a pipe's makeup, known as pipeline corrosion, can be efficiently prevented by using thermoplastics in the extraction and transportation process of oil and gas. These pipelines, being more durable and lightweight than metal ones, enable oil and gas companies to operate and yield from more in-depth offshore oilfields. For instance, the Association for Materials Protection and Performance (AMPP), a non-profit organization based in the US, reported in January 2023, that the annual financial impact of corrosion on the US oil and gas sector amounts to $27 billion. Some even believe that the global annual cost inflicted by corrosion on the industry exceeds $60 billion. Hence, the escalating need from the oil and gas sector for corrosion-proof solutions propels the growth of the thermoplastic pipe market.
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What Are the Key Trends Driving Thermoplastic Pipe Market Growth?
In the thermoplastic pipe market, the leading trend gaining traction is the growth of product innovations. Major players in this market are conceiving ingenious thermoplastic pipes equipped with cutting-edge characteristics like fire and corrosion resistance, lightness in weight, embedded reinforcement layers, and distinctive end uses, to maintain their market prominence. Illustratively, GP Piping Systems, a Swiss-based entity engaged in thermoplastic pipes, ushered in Heat-fit in March 2022. This inventive solution against fire for thermoplastic pipes has been introduced to the shipbuilding sector as the maiden fire-retardant pipe jacket solution. It ensures a corrosion-resistant, lightweight thermoplastic piping system for a multitude of applications, such as merchant ships, offshore facilities, and onboard cruise liners.
How Is the Thermoplastic Pipe Market Segmented?
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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Which Companies Are Leading the Charge in Thermoplastic Pipe Market Innovation?
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
Which Regions Are Leading the Global Thermoplastic Pipe Market in Revenue?
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.
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