Thermoplastic Pipe Market

Thermoplastic Pipe Market

Growth Factors of Thermoplastic Pipe Market

The thermoplastic pipe market size was valued at USD 3.69 billion in 2023, and the market is now projected to grow from USD 3.89 billion in 2024 to USD 5.45 billion by 2032, exhibiting a CAGR of 4.32% during the forecast period of 2024-2032.

The COVID-19 crisis has changed the supply chain since 2020 because it has affected both consumer and manufacturing networks. The demanding situations affected the pipe producers include the expanded costs of raw materials which have improved between 20% and 50%. This rising price together with instability in the supply has exerted pressure on the production of most plastics. Sudden price changes in raw materials have caused volatility in the value chains of oil and gas commodities thereby reducing the demand. So the pandemic has shown that supply chain management opportunities have weakened the thermoplastic pipe market growth.

The thermoplastic pipe market share is steadily improving in the oil and gas industry, pointing to the fact that pipes have high effectiveness in accumulating hydrocarbons. Pipes are light in weight, corrosion resistant and cost-effective as compared to steel because reinforced thermoplastic pipes (TRP) are used. They are being used in offshore functions such as chemical injection and decommissioning thus increasing the market’s demand. Thermoplastics are also suitable to install in conditions that have complicated borehole geometries, thereby eliminating corrosion. Key players from the Middle Eastern region, including Saudi Aramco and Adnoc, are already looking toward thermoplastic solutions in regarding corrosion concerns.

Furthermore, thermoplastic pipes have found application in oil and gas transportation since they do not corrode thus serving as efficient ways of transporting oil and gas. They solve problems occasioned by aggressive agents such as CO2, water and microorganisms, which act on metal pipes. With polymers and composite materials, these pipes are lightweight and suitable for corrosion resistance in environments both on and offshore. Their inner surfaces are smooth to reduce friction and fouling and also do not corrode due to biological attacks. In general, thermoplastic pipes can be used as an effective substitute for metallic pipes to an extent by increasing pipeline durability and effectiveness.

Comprehensive Analysis of Thermoplastic Pipe Market

The thermoplastic pipe market and power & energy industry are growing rapidly because of its market segmentation. This market expansion essentially affords a comprehensive regional consideration of the premiere supply or demand dynamics that influence the power sector. These segmentations are systematically separated based on product type, polymer type and application. The product types include, Reinforced Thermoplastic Pipe and Thermoplastic Composite Pipe. The polymer types include, Polyethylene Pipe, Poly Vinyl Chloride Pipe, Polypropylene Pipe, Polyvinylidene Fluoride and Others. The applications include, Oil & Gas, Water & Wastewater, Mining & Dredging and Utilities & Renewables.

Asia Pacific dominated the thermoplastic pipe market in 2020 due to the rising level of urbanization and infrastructure development. This has led producers to seek cheaper thermoplastic materials that will cater for the growing demand for these products. Governments around the world are also stepping up to enhance access to potable water and sewage systems which opened up broader market prospects. Thermoplastic pipes are also cheaper to procure and easier to install in comparison with the rest of the available materials in the market. Increased demand for polyvinyl chloride (PVC) in India and safety measures in China is predicted to boost market growth.

The leading companies of the power & energy market are quite important operating as the guarantors of the industrial prospectus and creating the market standards. These players include, Wienerberger (Austria), Advanced Drainage Systems (U.S.), Baker Hughes (U.S.), Georg Fischer (Switzerland), National Oilwell Varco (NOV) (U.S.), GF Piping Systems (Switzerland), Magma Global (U.K.), KWH Group (Finland), Exxon Mobil (U.S.), Sasol (South Africa), Sibur (Russia), Uponor Corporation (Finland), Simtech (U.S.) and Topolo (China). These market players offer a level-playing competitive environment.

In May 2023, Uponor Oyj signed an agreement to purchase KWH Group’s 44.7% of their subsidiary from Uponor Infra Oy resulting in complete control of up to 100%. This transaction will not have any effect on Uponor’s turnover or operation results but will generate positive shareholder value by improving earnings per share. This move has the effect of strengthening Uponor in the market as a whole.

Segmentation Table

Global Thermoplastic Pipe Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 4.32% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Product Type, Polymer Type, Application, and Region

By Product Type

Reinforced Thermoplastic Pipe (RTP)

• Thermoplastic Composite Pipe (TCP)

By Polymer Type

Polyethylene (PE) Pipe

• Poly Vinyl Chloride (PVC) Pipe
• Polypropylene Pipe (PP)
• Polyvinylidene Fluoride (PVDF)
• Others

By Application

Oil & Gas

• Water & Wastewater
• Mining & Dredging
• Utilities & Renewables

By Region

North America (By Product Type, By Polymer Type, By Application, and Country)

• U.S. (By Application)
• Canada (By Application)
• Europe (By Product Type, By Polymer Type, By Application, and Country)
• Germany (By Application)
• U.K. (By Application)
• France (By Application)
• Italy (By Application)
• Spain (By Application)
• Russia & CIS (By Application)
• Rest of Europe (By Application)
• Asia Pacific (By Product Type, By Polymer Type, By Application, and Country)
• China (By Application)
• Japan (By Application)
• India (By Application)
• South Korea (By Application)
• Southeast Asia (By Application)
• Rest of Asia Pacific (By Application)
• Latin America (By Product Type, By Polymer Type, By Application, and Country)
• Brazil (By Application)
• Mexico (By Application)
• Rest of Latin America (By Application)
• Middle East and Africa (By Product Type, By Polymer Type, By Application, and Country)
• GCC (By Application)
• South Africa (By Application)
• Rest of Middle East & Africa (By Application)

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