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Growing Use of Thermoplastic Composite Pipes and Reinforced Thermoplastic Pipes in Manufacturing Operations is Driving the Thermoplastic Pipe Market

The Thermoplastic Pipe Market is expected to reach USD USD 3.5 Billion billion by 2028, up from USD USD 2.6 Billion billion in 2021, at a CAGR of 4.7%. Steel is a major material in the oil and gas sector, where it is used to make a range of tubes and pipelines. However, thermoplastic composites are largely employed in offshore applications such as chemical injection pipelines and risers. Its features include wear and corrosion resistance, increased stiffness and strength in response to temperature variations, and stress deformation, making it ideal for underwater applications.

Offshore drilling and production operations are predicted to grow faster than onshore activities during the next five years, owing to the growing importance of deep and ultra-deep-water oil and gas production and exploration activities as demand for fossil fuels grows. Yet, the immediate effect of the COVID-19 epidemic was a drop in crude oil consumption, which led to a drop in demand for thermoplastic pipes, which are used to transfer oil and gas to the end user's location. Likewise, the pandemic has disrupted the water treatment sector, of which thermoplastic pipes are an essential component.

With the low cost and good chemical resistance, thermoplastic pipes produced from engineering thermoplastic grades such as polyethylene (PE) and polyvinyl chloride (PVC) have been widely employed. Because higher grades of thermoplastics, such as polyether ether ketone (PEEK), are costly, they have limited usage in seals and wirelines. These pipes have high raw material and fabrication costs, but they have strong abrasion resistance, low flammability, and minimal emission of smoke and harmful gases. When compared to steel, composite pipes constructed of PEEK or polyphenylene sulfide (PPS) cost 20–100 times more, making their use in items such as pipes impracticable, and thus becoming the most prevalent impediment to the thermoplastic pipe industry.

To address these issues, firms wind layers of thermoplastic composite reinforced with glass or carbon fibers around a polymer liner to create flexible pipes for the oil and gas sector are used. Furthermore, because thermoplastic composite pipes are significantly lighter than flexible steel pipes, installers may utilize less complicated and less expensive equipment to install them. Furthermore, the ease of handling and possible use of "no-dig" technology for installing the flexible pipes, which may be transported to the site in large coils, aid in reducing jointing and traffic interruption. As a result, the advantages of employing flexible composite pipes in deep and ultra-deep-water applications are likely to expand the Thermoplastic Pipe Market.

Reinforced thermoplastic pipes (RTP) are mostly employed in onshore applications, while they are occasionally used offshore in the very shallow water of roughly 30 m depth. The growing use of RTPs in the water and wastewater treatment industries is expected to drive global demand. There are two types of PE pipes on the market: HDPE (high-density polyethylene pipes) and PEX (cross-linked polyethylene). The cross-linked structure of polyethylene improves the material's toughness and temperature resistance. This allows the material to be customized for usage in harsher settings at both lower and higher temperatures. Polyethylene's flexible, and easy-to-weld qualities are projected to drive its demand in the thermoplastic pipe industry. The Thermoplastic Pipe Market can be segmented on the basis of end-user into oil & gas, water & wastewater, mining & dredging, utilities & renewables. The market covers the regions of North America, Asia Pacific, Europe, South America, the Middle East & Africa. Out of these, Asia Pacific has dominated the global Thermoplastic Pipe Market

Wienerberger (Austria), NOV (US), Georg Fischer (Switzerland), TechnipFMC (UK), Advanced Drainage Systems (US), Prysmian Group (Italy), Chevron Philips Chemical Company (US), Baker Hughes Company (US), and Strohm (Netherlands) are the leading competitors in the worldwide thermoplastic pipe industry.