The thermoplastic pipe market size has grown strongly in recent years. It will grow from $3.21 billion in 2024 to $3.41 billion in 2025 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 $4.42 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. 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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How have varous drivers impacted the growth of the thermoplastic pipe market?
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.
What are the primary segments of the thermoplastic pipe market?
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
Subsegments:
1) By Reinforced Thermoplastic Pipes (RTP): Glass-fiber Reinforced RTP, Carbon-fiber Reinforced RTP, Other Reinforced RTP (Aramid Fiber)
2) By Thermoplastic Composite Pipes (TCP): Polyethylene (PE) Composite Pipes, Polypropylene (PP) Composite Pipes, Other Thermoplastic Composite Materials
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Which firms are leading the thermoplastic pipe market?
Major companies operating in the thermoplastic pipe market include 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
How will industry trends affect the trajectory of the thermoplastic pipe market?
Product innovations are the key trend gaining popularity in the thermoplastic pipe market. Major companies operating in the market are developing innovative thermoplastic pipes with advanced features such as fire and corrosion resistance, lightweight construction, integrated reinforcement layers, unique end-uses, and others to sustain their position in the market. For instance, in March 2022, GP Piping Systems, a Switzerland-based company operating in thermoplastic pipes launched Heat-fit, an innovative fire-retardant solution for thermoplastic pipes in the shipbuilding industry. This is the first-fire-retardant pipe jacket solution for providing a corrosion-free, and lightweight thermoplastic piping system used in various applications such as merchant vessels, offshore platforms, and onboard cruise ships.
Which geographic trends are shaping the thermoplastic pipe market, and which region has the highest market share?
The countries covered in the thermoplastic pipe market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Thermoplastic Pipe Market Report 2025 Offer?
The thermoplastic pipe market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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