The Thermoplastic Pipe Market to hit USD 4.34 Billion in 2028, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Jun 16, 2022, 08:30 ET

LONDON, June 16, 2022 /PRNewswire/ -- Thermoplastic Pipe Market Size, Share, And Trends Analysis Report By Product Type (Reinforced Thermoplastic Pipes, Thermoplastic Composite Pipes) By End-Use Industry (Oil And Gas, Water And Wastewater, Mining And Dredging, Utilities, And Renewable) By Polymer Type (Polyethylene, Polypropylene, Polyvinylidene Fluoride, Polyvinylchloridede) By Application (Onshore, Offshore) Based On Region, And Segment Forecasts, 2022 – 2028 Report Published By Brandessence Market Research.

Key Highlights

Thermoplastic Pipe Market is valued at USD 3.04 Billion in 2021.
Thermoplastic Pipe Market Size is expected to reach USD 4.34 Billion by 2028.
Thermoplastic Pipe Market is Growing at CAGR of 5.2% over the forecast period.

Increasing application of thermoplastic composite pipes in offshore and onshore production activities and growing adoption of thermoplastic pipes across the sectors like municipal corporations, mining, and dredging are some of the major factors driving the growth of the Global Thermo Plastic Pipe Market.

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Thermoplastic pipe market: Competitive Analysis

The major players in the global thermoplastic pipe market are NOV, Wienerberger, TechnipFMC, Georg Fischer, Advanced Drainage Systems, Chevron Philips Chemical Company, Prysmian Group, Strohm, and Baker Hughes Company. These companies are trying to get the contracts in emerging countries in the Asia Pacific area.

NOV
Wienerberger
TechnipFMC
Georg Fischer
Advanced Drainage Systems
Chevron Philips Chemical Company
Prysmian Group
Strohm
Baker Hughes
Others.

Thermoplastic pipe market: Market Scope

The global thermoplastic pipe market all over the world has been growing in the past few years and is going to grow in the coming years too as the applications for this market increase continuously. The increase in the applications of composite pipes as well as the reinforced thermoplastic pipes in the offshore production activities as well as the onshore production activities have grown the global thermoplastic pipe market size.

Thermoplastic pipe market: Key Drivers

The global thermoplastic pipe market forecast shows that the oil and gas industry is one which uses the steel as a major material in the manufacturing of different kinds of pipes and tubes. When it comes to the onshore industries, steel is right now the dominant component where the products are made of coiled tubing as well as flow lines. Though, when it comes to the offshore applications, the thermoplastic composites are mainly used. The properties of the thermoplastic components like the wear resistance and corrosion resistance, strength and bitter stiffness when it comes to the temperature changes and deformation because of stress is something that makes it really effective for the underwater applications.

The offshore drilling as well as the production activities has been touted to increase in the coming few years at a pace which will be greater than the onshore activities when it comes to the increase in importance of the ultra deepwater and deep oil and gas production as well as exploration activities while the demand for the fossil fuels intensifies. Therefore, the application of thermoplastic pipe in the offshore products like the risers and flowlines will be driving this market. In the oil and gas industry, the reinforced thermoplastic pipes or the RTPs are used for the oil and gas industry where they are used for the replacement of the medium-pressure steel pipes. Many significant companies, which have been certified and have been used for the onshore applications. Furthermore, the wholly plastic pipes have been used for the parts which are ideal for the onshore applications.

The thermoplastic pipes which are made from the engineering thermoplastic grades like the Polyethylene and PVC are used extensively because of them being cost-effective and exhibiting great properties of chemical resistance. The higher grades of thermoplastics like PEEK etc have limited applications in seals as well as wire lines because they are expensive. The pipes provide the good abrasion resistance, reduced emission and low flammability, good abrasion resistance, toxic gases but also have a higher fabrication cost and raw material. In comparison with the steel, composite pipes made of the PPS and PEEK because they cost a lot more which make the application impossible for the products like pipes because they are becoming a lot more common for the global thermoplastic pipe market.

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Recent News:

GF Piping Systems Launched HEAT-FIT at Seatrade Cruise Global in Miami, Debuting a Lightweight, Corrosion-Free, and Efficient Thermoplastic Piping System: On April 27th, 2022; GF Piping Systems launched HEAT-FIT at Seatrade Cruise Global in Miami, debuting a lightweight, corrosion-free, and efficient thermoplastic piping system. With the HEAT-FIT Jacket System, GF Piping Systems provides a solution that introduces thermoplastic piping systems into essential applications (L3) onboard cruise ships, offshore platforms and merchant vessels. HEAT-FIT is well-suited with the ecoFIT range of polyethylene pipes & fittings intended for industrial applications and water & wastewater treatment. The new pipe jacket system consists of two layers of thermoplastic polyurethane (TPU) which enclose a high-temperature fibreglass fabric and an intumescing coating.

Strohm to Develop Thermoplastic Composite Pipes for Brazil's Pre-Salt Fields: aOn August 25th, 2021; Strohm signed an agreement with Petrobras and Shell to work on a thermoplastic composite pipe (TCP) flowline and riser solution for use in Brazil's offshore pre-salt territory. Strohm, previously known as Airborne Oil and Gas, has won a four-year contract esteemed at between €10 million and €50 million (US$11.7 million and US$58.8 million) to expand a corrosion-free arrangement with a 30-year design life for profound water fields. Petrobras in the past definitely experienced issues with flexible risers utilized for natural gas injection at a couple of pre-salt fields and has chosen to change to a rigid-riser-based design for its most recent improvements in the region.

Thermoplastic pipe market: Key Trends

The global thermoplastic pipe market analysis shows that the outbreak of the pandemic has caused a negative impact on global economy as the government worldwide had been forced for the implementation of lockdowns for the prevention of the virus spread. Due to this, the operations of the oil and gas transport had been hampered. The impact immediately which was felt was the lower demand for the crude oil, causing lower demands of thermoplastic pipes, which have been used for the transportation of oil and gas to the site of the end user. Furthermore, the coronavirus pandemic has also interrupted the water treatment sector too, of which the thermoplastic pipes are a very integral part.

The implementation of the stringent lockdown measures whether full or partial have caused a halt of the operations in industry. Further, because of the unavailability of the workforce and declining logistical operations, the functioning of thermoplastic piping system has been affected. Furthermore, because of the pandemic, among the ongoing projects of many companies had been suspended in a temporary sense. This has hampered in the growth of the market in the recent past. The thermoplastic pipe market 2022 looks bright though as the markets are back to normal and businesses are about to open up.

Thermoplastic pipe market: Segmentation Analysis

In terms of segmentation, global thermoplastic pipe market has couple of variants HDPE and PEX. The crosslinked structure of the polyethylene enhances the toughness and the resistance temperature of this material. This is going to enable the content to be specified for usage in harsher environments at both the lower and higher temperatures, PEX is supposed to lead the market because of its lightweight. The segment of oil and gas has been using the thermoplastic pipes for different applications like the high-pressure water injection pipelines, distribution and water transport along with the efficient disposal of water, temporary surface lines, seawater intake, discharge lines and well interventions.

The developed countries have started the installation of the TCPs due to their cost, light weight advantages and durability over the steel pipes which in all likelihood be fostering their demand. The segment of asset performance management has been touted to dominate the thermoplastic pipe market because of their use in the onshore industry for different applications including the high-pressure injection pipelines of water and transportation in addition to the others.

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Global Thermoplastic Pipe Market Segmentation:

By Product Type:

Reinforced thermoplastic pipes
Thermoplastic composite pipes

By End-Use Industry:

Oil and gas
Water and wastewater
Mining and Dredging
Utilities and Renewable

By Polymer Type:

Polyethylene
Polypropylene
Polyvinylidene Fluoride
Polyvinylchloridede

By Application:

Onshore
Offshore

Thermoplastic pipe market: Regional Analysis

Until the thermoplastic pipe market 2028, it is expected that the region of Asia Pacific is going to be the highest growing region in the coming years for the thermoplastic pipe market. The growth of this market is going to take place because of the industrialization and urbanization which is happening rapidly and the mining activities is going to happen in the coming years in Australia, China and also in India. This will drive the global thermoplastic pipe market in the coming years.

On Special Requirement Thermoplastic Pipe Market Report is also available for below region:

North America

U.S, Canada

Europe

Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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