The global thermoplastic pipe market, valued at USD 2.54 billion in 2023, is projected to grow to USD 3.83 billion by 2033, with a compound annual growth rate (CAGR) of 4.2% during the forecast period of 2023-2033, according to a recent report by Future Market Insights (FMI).
The market is being driven by increasing demand for thermoplastic pipes in the water and wastewater treatment industries, as well as the rising importance of offshore oil and gas production. Thermoplastic composite pipes are expected to see significant use in deep and ultra-deepwater oil and gas applications, including flowlines, umbilicals, and risers, due to their cost-effectiveness, chemical resistance, and lighter weight compared to traditional steel pipes.
While the COVID-19 pandemic led to disruptions in demand and logistics, the market is poised to recover, with growth expected to be particularly strong in the Asia-Pacific region due to rising offshore and onshore production activities. Despite challenges in large-scale production and the high costs associated with thermoplastic composite pipes, the advantages offered by these pipes in terms of flexibility and reduced installation costs are expected to fuel market growth.
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 USD 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 USD 2.18 billion in 2020 to USD 2.7 billion by 2031.
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.
Significant Thermoplastic Pipe Manufacturers
- Wiener Berger AG
- Strohm
- Baker Hughes
- Saudi Arabian Amiantit
- Advanced Drainage Systems
- TechnipFMC plc
- Geog Fischer
- Prysmian S.p.A
- Chevron Phillips Chemical
- IPEX
Key Segments
By Product Type:
- Reinforced Thermoplastic Pipes (RTP)
- Thermoplastic Composite Pipes (TCP)
By End-use Industry:
- Oil & Gas
- Water & Wastewater
- Mining & Dredging
- Utilities & Renewable
By Application:
- Onshore
- Offshore
By Polymer Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinylidene Fluoride (PVDF)
- Polyvinyl Chloride (PVC)
By Region:
- North America
- Europe
- South America
- Asia Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/thermoplastic-pipe-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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