CHICAGO, April 2, 2020 /PRNewswire/ -- According to the new market research report "Thermoplastic Pipe Market by Application(Oil & Gas, Water & Wastewater, Mining & Dredging, and Utilities & renewables), Product Type (TCP and RTP), Polymer Type (PE, PP, PVDF, PVC, and Others), Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Thermoplastic Pipe Market size is expected to reach USD 3.6 billion by 2025 from an estimated value of USD 2.8 billion in 2020, at a CAGR of 5.2% during the forecast period. The growing deep- and ultra-deepwater oil & gas production & exploration activities in the countries such as US & Canada and increasing mining activities in China, Australia, and India along with stringent water & wastewater treatment regulation in European countries is anticipated to drive the demand of the Thermoplastic Pipe Market.
The oil & gas segment is expected to be the largest Thermoplastic Pipe Market, by application, during the forecast period
Thermoplastic pipe in the oil & gas segment finds its applications in high-pressure water injection pipelines, water transport & distribution, effluent water disposal, temporary surface lines, well intervention, seawater intake & discharge lines, and recirculating water systems in petroleum refineries & petrochemical plants. The benefits of using thermoplastic pipes in high pressure and deep-water applications is expected to propel the oil & gas segment in the Thermoplastic Pipe Market.
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The reinforced thermoplastic (RTP) segment is projected to account for a significant share of the thermoplastic pipe during the forecast period
The reinforced thermoplastic pipe (RTP) is likely to dominate the market during the forecast period. RTP includes a thermoplastic pipe, which is qualified to maximum 30-meter water depth. Growing usage of reinforced thermoplastic pipe (RTP) in water & wastewater applications is likely to fuel its demand in the Thermoplastic Pipe Market.
The polyethylene (PE) segment is projected to account for the largest of the Thermoplastic Pipe Market share during the forecast period
The polyethylene (PE) is predicted to dominate the Thermoplastic Pipe Market based on its application. 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 material to be specified for use in more harsh environments both at lower and higher temperatures. Lightweight, flexible, and easy to weld properties of polyethylene (PE) is expected to foster its demand in the Thermoplastic Pipe Market.
Asia Pacific is projected to dominate the global Thermoplastic Pipe Market during the forecast period
In this report, the Thermoplastic Pipe Market has been analyzed concerning five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to lead the market during the forecast period. Urbanization and industrialization growth, along with increasing mining activities in China, Australia, and India, are likely to drive the Thermoplastic Pipe Market in the region.
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To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players such as Advanced Drainage Systems (Ohio, US), TechnipFMC (London,UK), National Oilwell Varco (Texas, US), Airborne Oil & Gas (The Netherlands), Magma Global (Portsmouth, UK), Baker Hughes Company (Texas, US), Chevron Philips Chemical Company (Texas, US), Prysmian (Milan, Italy), Georg Fischer (Switzerland), Shawcor (Toronto, Canada), and Uponor Corporation (Vantaa, Finland).
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