Global Thermoplastic Pipe Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

 

Overview and Scope
A thermoplastic pipe refers to a polymer resin-based plastic that softens when heated and hardens when cooled. These pipes are preferred material for fabricators and custom homes due to its excellent and reliable quality and consistent features.

Sizing and Forecast
The thermoplastic pipe market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%.  The growth in the historic period can be attributed to regulatory changes, infrastructure development, global economic conditions, environmental concerns.

The thermoplastic pipe market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.  The growth in the forecast period can be attributed to growing oil and gas industry, rising adoption of renewable energy, increasing usage of thermoplastic pipes, government regulations for safely transporting oil and natural gases. Major trends in the forecast period include material advancements, hybrid solutions and composites, adoption of advanced manufacturing techniques, innovation and competition.

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Segmentation & Regional Insights
The thermoplastic pipe market covered in this report is segmented –
1) By Product Type: Reinforced Thermoplastic Pipes (RTP), Thermoplastic Composite Pipes (TCP)
2) By Polymer Type: Polyethylene (PE), Polypropylene (PP), Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride (PVC), Other Polymer Types
3) By Application: Onshore, Offshore 
4) By End-User: Oil And Gas, Water And Wastewater, Mining And Dredging, Utilities And Renewables

Asia-Pacific was the largest region in the thermoplastic pipes market share in 2023. The regions covered in the thermoplastic pipe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing demand from the oil and gas industry for corrosion-resistive is expected to propel the growth of the thermoplastic pipe market going forward. Pipeline corrosion is the oxidation and electrochemical disintegration of a pipe's structure. The use of thermoplastics in the production and transportation of oil and gas is emerging as a practical and reliable corrosion-mitigation solution. These pipelines are lighter and more resistant to corrosion than metals, allowing oil and gas corporations to explore and produce from deeper offshore oilfields. For instance, in January 2023, according to the Association for Materials Protection and Performance (AMPP), a US-based non-profit organization, the yearly cost of corrosion to the oil and gas sector in the United States is estimated to be $27 billion, with others estimating the global annual cost of corrosion to the industry to be more than $60 billion. Therefore, increasing demand from the oil and gas industry for corrosion-resistive drives the thermoplastic pipe market.

Key Industry Players
Major companies operating in the thermoplastic pipe market report are Baker Hughes Company, Prysmian Group, Chevron Phillips Chemical Company LLC, Uponor Corporation, National Oilwell Varco, Inc, TechnipFMC plc, Wienerberger AG, Georg Fischer Ltd, Mueller Industries, Inc., GF Piping Systems, Inteplast Group, Advanced Drainage Systems Inc, JM Eagle Inc., Shawcor Ltd, Pipelife, IPEX Inc, Pes-Tec Germany, Nibco Inc., Saudi Arabian Amiantit Co, Strohm BV, Aetna Plastics Corp, Pexmart CC, Wavin India Pipes and Fittings Manufacturing Private Limited, Polyplastic, Algriplast, National Material Company, Plasti-Fab Inc., Genova Industries, Corzan Piping Systems, Sioux Group

The thermoplastic pipe market report table of contents includes:
1. Executive Summary
2. Thermoplastic Pipe Market Characteristics
3. Thermoplastic Pipe Market Trends And Strategies
4. Thermoplastic Pipe Market - Macro Economic Scenario
5. Global Thermoplastic Pipe Market Size and Growth
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32. Global Thermoplastic Pipe Market Competitive Benchmarking
33. Global Thermoplastic Pipe Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Thermoplastic Pipe Market
35. Thermoplastic Pipe Market Future Outlook and Potential Analysis
36. Appendix