Thermoplastic pipe is an alternative to conventional pipe lining materials that consist of the attraction of thermoplastic composite materials mainly stems from its ability to replace standard light-weight & high-strength metals with even lighter weight/higher strength alternatives. Thermoplastic pipes are primarily utilized in the carriage of solids, liquids, and gases. These pipes possess the qualities for instance low installation cost, greater flow, excellent chemical resistance with stand high temperature flexibility, high mechanical strength, and rust resistant features. These valuable attributes offered by the thermoplastic pipes makes them extremely preferred over the metal pipes and thus widely used in the oil and gas offshore drilling. The other application areas of the thermoplastics are in chemical, municipal, and mining & dredging sector.
According to study, “Global Thermoplastic Pipe Market to reach USD 3.9 billion by 2026” the key companies operating in the global thermoplastic pipe market are Airborne Oil & Gas, Magma Global, Georg Fischer Piping Systems, Chevron Philips Chemical Company, Advanced Drainage Systems, National Oilwell Varco, Baker Hughes Company, Technipfmc, Changchun Gaoxiang Special Pipe, Uponor Corporation, Pipelife International, Prysmian, Flexsteel Pipeline Technologies, Shawcor, Saudi Arabian Amiantit, Ipex, Simtech, Pes.Tec, Aetna Plastics, Topolo.
Based on product type, thermoplastic pipe market is segmented as Reinforced thermoplastic pipe (RTP) and Thermoplastic composite pipe (TCP). TCP is used in greater water depths upto 3,000 meters in offshore, it also can be laid upto 4 kilometers of continuous length, and therefore it is more demanded than steel pipes. Based on polymer type, market is segmented as Polyethylene (PE), Polyvinyl chloride (PVC), Polypropylene (PP), Polyvinylidene fluoride (PVDF) and others (Polyamide (PA) and Polyether Ether Ketone (Peek), Polytetrafluoroethylene (PTFE) and Forced Reinforced Plastics (FRP)). The high Polyethylene (PE) segment is anticipated to be the fastest-growing market over the forecast period. There are two variants of PE pipes: PEX (cross-linked polyethylene) and HDPE (high-density polyethylene pipes). In addition, based on application, market is segmented as water & wastewater, mining & dredging, oil & gas and utilities & renewable. The oil & gas industry segment dominates the market owing to increase in drilling practices for offshore exploration.
The thermoplastic pipe market is driven by rise in demand for flexible pipes, followed by increase in use of polyethylene pipes for water and wastewater in municipal and immense usage in oil & gas industry, especially in deep water and ultra-deep water applications. Moreover, enormous opportunity in the offshore industry in developing countries is a key opportunity for market. Furthermore, rise in demand in chemical and municipal sectors of developing countries is a major trend for market.
Based on geography, the North-American is the leading region in global thermoplastic pipe market owing to increase in oil & gas production and rise in exploration activities in the region. Whereas, the Asian-Pacific and European regions are estimated to witness higher growth rate due to rapid urbanization & industrialization along with growth in mining activities in Australia, China and India. The global thermoplastic pipe market is valued approximately at US $2.7 billion in 2019 and is projected to grow with a healthy growth rate of more than 5.20% over the forecast period 2020 to 2026.
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Ankur Gupta, Head Marketing & Communications