Reinforced Thermoplastic Pipes Market Size, Share, Growth, and Industry Analysis, By Type (PVC, PE, PP, PPR, Others), By Application (Energy, Chemical Industry, Others) Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global reinforced thermoplastic pipes market size was USD 5964.9 million in 2022. As per our research, the market is projected to touch USD 9154.3 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.  The global COVID-19 pandemic has been unprecedented and staggering, with the Global Lead-Free CCL Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Reinforced thermoplastic tubes come in two varieties. Enhancing the ability to withstand internal pressure is one goal. Typically consists of three layers: the central layer is the reinforcing material, while the outer and inner layers are made of different thermoplastics. The other class needs more resistance against external pressure in addition to more resistance against internal pressure. Usually, there are multiple levels to the structure—more than five. Apart from different types of thermoplastic layers, there are functional layers, external pressure-resistant layers, and interior pressure-resistant layers. Transporting gas and oil is its primary use.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

Since the spring, manufacturing, popularity, and supply chains have been affected, directly affecting pipe manufacturers, as a result of supply chain disruptions and a reduction in industrial operations brought on by the worldwide health pandemic. Since the onset of the outbreak, supply chain interruptions and a decline in demand have caused raw material costs to reach new levels.

LATEST TRENDS

"Innovation in creating the future by the latest trends"

As an emerging corrosion strategy, thermoplastic pipes have been a major success in the oil and gas industry, contributing significantly to the transportation of oil and gas. The internal corrosion rate is influenced by a variety of corrosive pollutants found in crude oil and natural gas, including water, microorganisms, CO2, and others. Nevertheless, the use of thermoplastics in the transportation and production of oil and gas is starting to be recognized as a practical and trustworthy way to reduce corrosion. Because they are lighter and more resistant to corrosion than metals, material types including polymers and composites are used in pipelines that are located both onshore and offshore.

SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type

Based on type the Global Reinforced Thermoplastic Pipes Market is classified as PVC, PE, PP, PPR, Others.

• By Application

Based on application the Global Reinforced Thermoplastic Pipes Market is classified as Energy, Chemical Industry, Others.

DRIVING FACTORS

"Usage of Steel in the Production to Fuel the Market Growth"

Steel is a crucial component used in the production of numerous tubes and pipes used in the oil and gas sector. Steel is still widely utilized in the onshore industry for items like flow lines and coiled tubing. But the main uses for thermoplastic composites are in offshore applications, including risers and chemical injection pipes. It is incredibly useful for underwater applications because of its qualities, which include resistance to wear and corrosion, improved stiffness and strength in response to temperature variations and stress-induced deformation. Since the demand for fossil fuels has increased, it is anticipated that offshore drilling and production operations would grow more quickly than onshore activities during the next five years. This is due to the growing significance of deep and ultra-deepwater oil and gas production and exploration activities there is a reinforced thermoplastic pipes market growth.

"Technological Advancements to Accelerate the Market Growth"

In the oil and gas sector, medium-pressure steel pipes are swapped out with reinforced thermoplastic (RTP) pipes. Numerous notable businesses who have received international certification for their products design pipes that can withstand pressures of up to 450 bar, or 6527 psi, and are suitable for use in onshore applications. Furthermore, the composite materials used in these entirely plastic pipes are thermoset-based, making them perfect for onshore use. Deep and ultra-deepwater environments have high temperature and pressure ratings, and the elevated concentrations of CO2 and H2S erode and corrode steel. Moreover, deeper water causes the pipes to be pulled through the water by stronger currents and pressure.

RESTRAINING FACTORS

"Challenges impeding the negative effect on the environment"

The cost-effectiveness and superior chemical resistance of engineering thermoplastic grades like polyethylene (PE) and polyvinyl chloride (PVC) have led to the widespread use of thermoplastic pipes. Higher grades of thermoplastics, including polyether ether ketone (PEEK), are more costly and have fewer uses in wirelines and seals. These pipes are less flammable, offer good resistance to abrasion, and release fewer harmful gases and smoke into the atmosphere, but their raw material and fabrication costs are considerable. PEEK, or polyphenylene sulphide, composite pipes are 20–100 times more expensive than steel, which prevents them from being used for items like pipes. As a result, they are the most prevalent barrier to the thermoplastic pipe industry.

REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"Asia Pacific to Dominate the Market Owing to the Growth in Infrastructure"

Asia Pacific holds the largest reinforced thermoplastic pipes market share. Growing infrastructure development and urbanization have forced the utility sector to embrace more affordable transportation options, which has increased market demand. Additionally, this has increased the motivation for thermoplastic pipe manufacturers to transition to producing this sort of pipe. Asia’s nations are working harder to get access to sewage systems and drinkable water, which presents huge prospects for the plastic pipe industry. Compared to other pipe materials, plastic pipe has the advantage of being relatively inexpensive and simple to install. Furthermore, the region's thermoplastic market is anticipated to rise due to China's growing safety concerns and India's ongoing need for polyvinyl chloride (PVC).

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Technip (Europe)
• GE Oil & Gas (U.S.)
• National Oilwell Varco (U.S.)
• ShawCor Ltd (North America)
• Airborne Oil & Gas (Europe)
• Wienerberger (Austria)
• Cosmoplast (UAE)
• 9 Polyflow (U.S.)
• PES.TEC (U.S.)
• Aerosun Corporation (Asia Pacific)
• Changchun Gaoxiang Special Pipe (Asia Pacific)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.