Thermoplastic Pipe Market Insights, Demand, Analysis, Share, Forecast 2023-2032 | Advanced Drainage Systems Inc., Saudi Arabian Amiantit Co, TechnipFMC plc, Georg Fischer Ltd., Prysmian Group

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The Thermoplastic Pipe Global Market Report 2023 by The Business Research Company, provides thermoplastic pipe market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Thermoplastic Pipe Global Market Report 2023, the market is expected to grow from $2.88 billion in 2022 to $3.06 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global thermoplastic pipes market is expected to reach $3.78 billion in 2027 at a CAGR of 5.4%.

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.

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The thermoplastic pipe market 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

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.

The thermoplastic pipe market report table of contents includes: