Press release
Thermoplastic Pipe Market: Major Trends Reshaping the Future of the Industry
Thermoplastic Pipe
What Will the Thermoplastic Pipe Industry Market Size Be by 2025?
The thermoplastic pipe market expanded strongly, from $3.21 billion in 2024 to $3.37 billion in 2025 at a CAGR of 5.1%.
What's the Long-Term Growth Forecast for the Thermoplastic Pipe Market Size Through 2029?
A steady surge is anticipated in the thermoplastic pipe market size in the upcoming years. The market is predicted to expand to a value of $4.33 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. The expansion within the forecast period is closely tied to the booming oil and gas sector, the increasing embrace of renewable energy, the amplified use of thermoplastic pipes, and government guidelines on the safe conveyance of oil and gas. Key trends expected during this projected period encompass advancement in materials, the utilization of hybrid solutions and composites, the application of state-of-the-art manufacturing methodologies, and the dynamic landscape of innovation and competition.
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What Are the Key Growth Drivers Fueling the Thermoplastic Pipe Market Expansion?
The push for anti-corrosion materials in the oil and gas industry is anticipated to amplify the progression of the thermoplastic pipe market. Pipeline corrosion entails the oxidation and the electrochemical decay of the pipeline's framework. The adoption of thermoplastics in the creation and transport of oil and gas is progressively being perceived as a functional and dependable answer for corrosion control. These pipelines, which are less weighty and more corrosion-resistant than metals, enable oil and gas companies to delve into and extract from deeper offshore oilfields. For instance, in January 2023, data from the Association for Materials Protection and Performance (AMPP), a non-profit organization based in the US, projected the annual cost of corrosion to the oil and gas industry in the United States to be around $27 billion. Other estimates suggested that the worldwide yearly cost of corrosion to this sector could exceed $60 billion. Consequently, the escalating demand for anti-corrosion solutions in the oil and gas industry is propelling the thermoplastic pipe market.
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What Are the Key Trends Driving Thermoplastic Pipe Market Growth?
The evolution of product advancements is a major trend that is gaining prominence in the thermoplastic pipe market. Numerous prominent corporations in this market are coming up with innovative thermoplastic pipes that incorporate advanced aspects such as resistance to fire and corrosion, lightweight design, integrated reinforcement layers, novel end-use applications, and more, all aimed to maintain their market standing. A case in point is GP Piping Systems, a Swiss establishment in the thermoplastic pipes sector, which introduced Heat-fit in March 2022. It's an innovative fire-retardant solution tailored for thermoplastic pipes in the shipbuilding sector. It is the inaugural fire-resistant pipe jacket solution that offers a corrosion-resistant, light in weight thermoplastic piping system implemented in various scenarios such as merchant ships, offshore platforms, and cruise ships.
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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