According to analysts of our research study, the Thermoplastic Pipe Market is expected to reach USD 3.5 Billion by 2028, growing at a CAGR of between 2022 and 2028. The growing application of thermoplastic composite pipes & reinforced thermoplastic pipes in onshore and offshore activities of production is fuelling the market growth.
- The reinforced thermoplastic pipes segment is projected to grow at a significant CAGR over the forecast period. RTPs are used in applications for less demanded temperatures and lower pressure ratings. RTPs are mainly used in onshore applications and sometimes offshore in the shallow water of about 30 m depth. The usage of RTPs in the water and wastewater treatment industry in increasing the demand all over the globe.
- The Polyethylene (PE) segment held a considerable market share in 2021. Polyethylene (PE) is Lightweight, easy and flexible to weld properties is anticipated to boost demand for Thermoplastic Pipe Market.
- has dominated the global Thermoplastic Pipe Market in 2021. This is due to the rapid urbanization and growing industrialization activities coupled with rising mining activities in countries such as India and China, Australia.
Some of the key players in the Thermoplastic Pipe Market include - .
In the oil & gas industry steel is used as a key material in the manufacturing of a variety of tubes & pipes. Considering onshore, the steel continues to hold a dominant position in products like coiled tubing & flow lines. Thermoplastic composites are mainly used in offshore applications, like chemical injection pipes & risers. Some of the properties such as wear & corrosion resistance, strength with respect to changes in temperature, better stiffness, and deformation, make it effective for underwater applications. The activities in offshore production and drilling are anticipated to grow at a greater pace than the onshore activities. The thermoplastic composites application in offshore products, such as umbilical and risers, is expected to drive Thermoplastic Pipe Market growth. Reinforced thermoplastic pipes in the oil & gas industry are used for replacing steel pipes with medium pressure. Several companies, certified for the international standards design pipes with the pressure capacity which be used in onshore applications.
North America region is likely to witness significant growth. The growth in this region is due to rising old pipeline replacements coupled with growth in oil and gas industry and new pipeline construction activities in the region.