CHICAGO, Dec. 6, 2021 /PRNewswire/ -- According to the new market research report " Thermoplastic Pipe Market by Product Type (TCP and RTP), Polymer Type (PE, PP, PVDF, PVC, Others), Application (Onshore & Offshore), End-user Industry (Oil & Gas, Water & Wastewater Treatment, Mining & Dredging) and Region - Global Forecast to 2026",published by MarketsandMarkets™, the Thermoplastic Pipe Market is projected to reach USD 3.3 billion by 2026 The Thermoplastic Pipe Market size will grow to USD 3.3 billion by 2026 from USD 2.7 billion in 2021, at a CAGR of 4.5% during the forecast period.
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The Thermoplastic Pipe Market has promising growth potential due to the increasing use of engineered thermoplastic materials in manufacturing pipes. The engineering grades of thermoplastic materials, such as polyamide (PA), polyethylene (PE), and polyvinylidene fluoride (PVDF), are gaining increased acceptance in niche oil & gas applications as well. Additional properties such as better chemical, corrosion, and wear resistance, light weight, cost-effectiveness, and acceptable mechanical properties compared with metals have made thermoplastics a viable option for various applications, including water transport and distribution, effluent water disposal, high-pressure water injection, seawater intake and discharge, chemical injections, and transport of oil, gas, water, and wastewater in the oil & gas industry.
The onshore segment is expected to dominate the Thermoplastic Pipe Market, by application, during the forecast period.
The onshore segment is expected to hold the largest market share and also grow at the fastest rate during the forecast period. Thermoplastic pipes are used in onshore industry for various applications including high pressure water injection pipelines and transportation, among others.
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The polyethylene segment is expected to be the largest Thermoplastic Pipe Market, by polymer type, during the forecast period.
The polyethylene held the largest share of the Thermoplastic Pipe Market owing to its light weight, flexibility, and easy to weld properties. There are two variants of PE pipes available in the market, i.e. HDPE (high-density polyethylene pipes) and PEX (cross-linked polyethylene). The crosslinked structure of polyethylene enhances the toughness and temperature resistance of the material. This enables the content to be specified for use in more harsh environments both at lower and higher temperatures.
Asia Pacific likely to emerge as the largest Thermoplastic Pipe Market.
In this report, the Thermoplastic Pipe Market has been analyzed for five regions, namely, North America, South America, Europe, Asia Pacific, and Middle East & Africa. The growth of the Asia Pacific market is driven by urbanization and industrialization growth along with increasing mining activities in China, Australia, and India.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Thermoplastic Pipe Market.
Some of the key players are NOV (US), Wienerberger ( Austria), TechnipFMC (UK), Georg Fischer ( Switzerland), and Advanced Drainage Systems (US). The leading players are adopting various strategies to increase their share in the Thermoplastic Pipe Market.
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