Global Thermoplastic Pipe Market Scenario
The global thermoplastic pipe market size is projected to grow from an estimated USD 2.8 billion in 2020 to USD 3.6 billion by 2025, at a CAGR of 5.2% during the forecast period. Asia Pacific and North American region is the big market for thermoplastic pipe. The growing oil & gas production activities & exploration activities in the US, along with mining & dredging activities in countries such as Australia and China are the major driving factors for the overall thermoplastic pipe market growth.
Key Market Players:
The major players in the thermoplastic pipe market are Advanced Drainage Systems (Ohio, US), TechnipFMC (London,UK), National Oilwell Varco (Texas, US), Airborne Oil & Gas (The Netherlands), Magma Global (Portsmouth, UK), Baker Hughes Company (Texas, US), Chevron Philips Chemical Company (Texas, US), Prysmian (Milan, Italy), Georg Fischer (Switzerland), Shawcor (Toronto, Canada), and Uponor Corporation (Vantaa, Finland).
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South America is expected to be the fastest-growing region for the thermoplastic pipe market from 2020 to 2025, followed by North America and Asia Pacific. Continuously increasing investments by foreign countries in the Venezuela, and the Brazilian oil & gas industry is likely to drive the demand for thermoplastic pipe in the region.
The thermoplastic pipe market has been segmented, by application, into oil & gas, water & wastewater, mining & dredging, and utilities & renewables. Oil & gas is the fastest-growing thermoplastic pipe market. Benefits of using thermoplastic pipes in high pressure and deep-water applications is expected to propel the oil & gas segment in thermoplastic pipe market
The thermoplastic pipe market has been segmented, by product type, into the reinforced thermoplastic pipe (RTP), and thermoplastic composite pipe (TCP). The thermoplastic composite pipe (TCP) is the fastest-growing thermoplastic pipe market. The increasing demand of thermoplastic composite pipe into oil & gas applications due to its high pressure withstand capacity, and durability is expected to further propel its demand.
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The thermoplastic pipe market has been segmented, by polymer type, into Polyethylene (PE), Polypropylene (PP), Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride (PVC), and Others. Polyethylene (PE) is the fastest-growing thermoplastic pipe market. Lightweight, flexible, and easy to weld properties of polyethylene (PE) is expected to foster its demand in the thermoplastic pipe market
