Sales of Reinforced Thermoplastic Pipes Made from High-density Polyethylene will hit US$ 321 Mn by 2031

NEW YORK, Aug. 10, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per the analysis by Fact.MR, the global reinforced thermoplastic pipes market totaled US$ 2.8 billion in 2020, growing at a CAGR of 4% between 2016 and 2020. Through the course of the forecast period 2021 to 2031, the market for reinforced thermoplastic pipes is expected to surpass a valuation of US$ 3.6 billion, expanding at a 5% CAGR.

Thanks to the increasing usage of reinforced thermoplastic pipes across various industries such as water treatment, chemical, and oil & gas industries for large-scale manufacturing and refining processes, the market is expected display positive prospects.

A substantial rise in investment has been registered in the oil & gas industry across various countries for establishing new projects over the last five years. Extensive use of refined products such as petroleum, diesel, CNG, and others have fueled the demand for oil & gas, consequently, propelling the global demand for reinforced thermoplastic pipes.

However, the recessionary downswing witnessed across various industries due to the outbreak of COVID-19 epidemic stunted growth to an extent in 2020. The shortage of raw material and cessation of refineries due to the regulatory lockdown has hampered sales. Nevertheless, with the ease in restrictions and lockdown, demand is estimated to rebound by Q4 2021.

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North America is anticipated to remain one of the leading markets for reinforced thermoplastic pipes. Owing to the increasing investment in the oil & gas industry for the exploration of new reserves, the region is expected to account for more than 30% of the global market share by 2031.

"Reinforced thermoplastic pipes are increasingly being used as a standard alternative solution for reducing pipeline corrosion costs associated with steel for oilfield flowline applications. This will create impetus for the market growth over the coming years," says the Fact.MR analyst.

Key Takeaways from Reinforced Thermoplastic Pipes Market Survey

• Demand for reinforced thermoplastic pipes in the U.S is estimated to account for nearly 30% of revenue until 2031, making the country a dominant market in North America.
• Asia pacific is expected to lead the reinforced thermoplastic pipes landscape on the back global players in the region.
• Glass fiber is likely to remain a leading reinforcement material, exhibiting growth at a CAGR of 5% over the assessment period.
• High-density polyethylene (HDPE) reinforced thermoplastic pipes are expected to hold a dollar opportunity of around US$ 321 million through 2031.

Key Drivers

• Increasing number of water treatments projected across the globe is spurring the sales of reinforced thermoplastic pipes.
• Surging investment in the oil & gas industry is expected to fuel the demand for reinforced thermoplastic pipes.
• Growing shift towards reinforced thermoplastic pipes from steel pipes is driving the market.

Key Restraints

• High cost per unit based on force carrying capacity compared to conventional ones is hampering the demand for reinforced thermoplastic pipes.
• Low shear strength of reinforced thermoplastic pipes in the traverse direction is negatively affecting sales.

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Competitive Landscape

Leading manufacturers in the reinforced thermoplastic pipes market are focusing on new product launches and engaging in strategic agreements and partnerships for business expansion. For instance,

• In January 2021, Baker Hughes, launched a next-generation onshore composite flexible pipe to address the cost of ownership and corrosion challenges with a conventional steel pipe for the oil and gas, energy, and industrial sectors.
• In May 2021, Cosmoplast, announced signing a production and sales agreement with an engineering company, Technip-Coflexip in the Gulf and Middle Eastern countries for the production of Coflexlite. It is a specialized reinforced thermoplastic pipe for use in the oil and gas production and exploration industries.

Some of the leading market players operating in the reinforced thermoplastic pipes market profiled by Fact.MR are:

• Baker and Hughes
• Cosmoplast
•  H.A.T-Flex
•  National Oilwell Varco
•  OPR Offshore Pipelines & Risers Inc.
•  PES.TEC
•  Saudi Arabian Amiantit Co.
•  Saudi Aramco
•  Shawcor
• Wienerberger AG

More Valuable Insights on Reinforced Thermoplastic Pipes Market

Fact.MR, in its new report, offers an unbiased analysis of the global reinforced thermoplastic pipes market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in reinforced thermoplastic pipes market with detailed segmentation:

• Classification
• HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes
• PA (Polyamide) Reinforced Thermoplastic Pipes
• PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes
• Other Reinforced Thermoplastic Pipes
• Reinforced Material
• Aramid Reinforced Thermoplastic Pipes
• Glass Fiber Reinforced Thermoplastic Pipes
• Steel Reinforced Thermoplastic Pipes
• Pipe Size
• Reinforced Thermoplastic Pipes Measuring Up to 4 Inches
• Reinforced Thermoplastic Pipes Measuring 6 Inches
• Reinforced Thermoplastic Pipes Measuring Above 6 Inches
• End Use
• Reinforced Thermoplastic Pipes for Oil & Gas
• Reinforced Thermoplastic Pipes for On Shore Operations
• Reinforced Thermoplastic Pipes for Off Shore Operations
• Reinforced Thermoplastic Pipes for Chemical Industry
• Reinforced Thermoplastic Pipes for Water Industry
• Reinforced Thermoplastic Pipes for Other End Uses

Key Questions Covered in the Reinforced Thermoplastic Pipes Market Report 

• The market survey also highlights projected sales growth for reinforced thermoplastic pipes market between 2021 and 2031
• The report offers insight into reinforced thermoplastic pipes demand outlook for 2021-2031
• Reinforced thermoplastic pipes market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others 
• Reinforced thermoplastic pipes market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Ductile Iron Pipes Market- The need for ductile iron pipe is increasing as the number of smart city and infrastructure development projects grows. Furthermore, governments are beginning water and wastewater management projects as a result of economic success and mounting demand to improve sanitation in metropolitan areas. In addition, a wide range of industrial application sectors are predicted to provide plenty of market prospects. Some of the trends that present substantial potential opportunities are growing awareness of clean and safe drinking water, increasing technical advancement, and improving wastewater management systems. Furthermore, strict wastewater management rules provide significant market opportunities for producers.

HDPE Pipes Market- HDPE pipes can also be used to deliver drinking water. Water shortages are affecting local businesses and community living conditions in a number of places throughout the world. The respective governments are undertaking programs to upgrade their wastewater infrastructure and drinking water systems, which will inevitably boost HDPE pipe growth in the next years. The HDPE pipes market is expected to rise due to the ongoing demand for water infrastructure in all emerging regions. As developing countries strive actively to develop their sewage systems, the demand for HDPE pipes has surged as well.

Seamless Steel Pipes Market- With a competitive value market share over other pipe categories, seamless steel pipes have a lot of promise in the global piping sector. These pipes, particularly carbon steel, alloy steel, and stainless steel seamless pipes, are widely utilized as line pipes for the transport of fluids such as oils and chemicals, as well as structural components in the automobile, construction, and mechanical sectors. Steel pipes made by hot rolling are likewise in high demand throughout the world. Due to their numerous advantages over traditional pipeline systems, demand for seamless steel pipes has gradually increased over the last half-decade.

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