Thermoplastic Pipe Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2032

According to a recent thermoplastic pipe market report by Future Market Insights (FMI), the thermoplastic pipe market was valued at US$ 2.5 Bn in 2021, is projected to reach US$ 8.5 Bn by 2032, and is anticipated to grow at a CAGR of around 4.5% over the projected period of 2022-2032.

The immediate consequence of the COVID-19 pandemic resulted in a decrease in demand for thermoplastic pipes that are being used to transport oil and gas to end users’ locations.

Furthermore, the pandemic has disrupted the water treatment industry, of which thermoplastic composite pipes are an essential element.

Industrial operations were halted due to the implementation of strict lockdown procedures. In addition, the thermoplastic piping systems’ operation was constrained by a lack of manpower and a decline in logistical operations.

The growing use of RTP pipe in the water and wastewater treatment industries is expected to drive up demand for thermoplastic pipes worldwide.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14268

Given the rising importance of deep and ultra-deepwater oil and gas production and exploration operations as demand for fossil fuels has increased, offshore drilling and production activities are likely to grow at a faster rate than onshore activities during the next five years. As a result, the application of thermoplastic composite pipe in offshore products, including flowlines, umbilicals, and risers, is expected to drive the thermoplastic pipe market in the oil and gas industry.

Reinforced thermoplastic pipes (RTP) are being utilized to replace medium-pressure steel pipes in the oil and gas industry.

Due to their cost-effectiveness and good chemical resistance capabilities, many types of thermoplastic pipes made from engineering thermoplastic grades such as polyethylene (PE) and polyvinyl chloride (PVC) have been widely employed.

Higher thermoplastic composite pipes offer better abrasion resistance, are less flammable, and emit less smoke and harmful fumes. Still, they come at a higher cost of raw materials and fabrication. Thermoplastic composite pipes are 20–100 times more expensive than steel pipes, making them unsuitable for items like pipes. This has become the most prevalent roadblock for the thermoplastic pipe business.

As shallow-water oil and gas resources run out, thermoplastic pipe manufacturers are turning to deep- and ultra-deepwater off the shores of Brazil, Norway, Angola, and the United States.

Since thermoplastic composite pipes are lighter than flexible steel pipes, they may be installed using less complex and costly equipment. The flexibility of the pipes, which may be transported to the job site in long coils, and the possibility of using no-dig technology to install them assist in minimizing jointing and traffic interruption. As a result of the advantages of implementing flexible thermoplastic composite pipes in deep- and ultra-deepwater applications, the thermoplastic pipe market is anticipated to grow.

Large-scale production of thermoplastic composite pipes is challenging because of the standardisation, contributing to the overall high cost of thermoplastic pipes.

Key Takeaways:

  • With a thermoplastic pipe market share of over 30%, North America is estimated to maintain its dominant position in the thermoplastic pipe market.
  • Reinforced thermoplastic pipes account for 30% of the market in the United States.
  • North America reigned supreme in the RTP market in 2019, with a valuation of US$ 81 Mn, owing to the shale gas effect and massive ongoing expansions in the United States.
  • According to the research, the offshore reinforced thermoplastic pipes market in Asia is predicted to increase from US$ 2.18 billion in 2020 to US$ 2.7 billion by 2031.

Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-14268

Competitive Landscape:

Some of the key players are NOV (US), Wienerberger (Austria), TechnipFMC (UK), Georg Fischer (Switzerland), and Advanced Drainage Systems (US). The leading thermoplastic pipe manufacturers are adopting various strategies to increase their thermoplastic pipe market share.

  • TechnipFMC purchased Magma Global’s outstanding shares in October 2021 and will use Magma Global’s technology to manufacture Thermoplastic Composite Pipes (TCPs) made of PEEK polymer. Magma Global’s expertise will be combined with TechnipFMC’s thermoplastic piping systems to build a Hybrid Flexible Pipe (HFP) used in Brazil’s pre-salt fields.
  • Wienerberger bought the entire stock of FloPlast and Cork Plastics in July 2021. Both firms’ product ranges are focused on rainfall, roofline, and drainage products. As a result of the acquisition, Wienerberger is projected to become a full-service provider of managed greywater and stormwater solutions in the residential sector.
  • FGS Brasil Industria e Comércio (FGS), Cajamar (Brazil), a manufacturer of polyethylene thermoplastic piping systems, was bought by GF Piping Systems, a part of Georg Fischer, in December 2020. GF Piping Systems was able to increase its position in Brazil and South America due to the acquisition.
  • Subsea 7 granted NOV a contract in July 2020 to construct a flexible thermoplastic piping system, including flexible thermoplastic piping systems and associated ancillary components, for Woodside’s Sangoma Phase 1 project offshore Senegal, West Africa.

More Related Reports

https://network-66643.mn.co/posts/23327851

https://beyondher.mn.co/posts/23327861

https://synkretic.mn.co/posts/23327870

https://wecanchat.mn.co/posts/23327879

https://bipolarjungle.mn.co/posts/23327893

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedInTwitterBlogs

Leave a comment

Your email address will not be published. Required fields are marked *