The thermoplastic pipe market promises a moderate growth rate of 4.5% during 2022-2032 to reach an estimated valuation of US$ 8.5 Bn by 2032, from US$ 2.5 Bn in 2021.
“Adoption of thermoplastic pipe will remain high; thermoplastic pipe manufacturers should focus on cost-effectiveness as well as good chemical resistance capabilities of their product.”
Composite pipes constructed of PEEK or polyphenylene sulphide (PPS) cost 20–100 times more than steel, making them unsuitable for items like pipes, which is a key barrier to the growth of the thermoplastic pipe market.
The Key Thermoplastic Pipe Market Opportunities
"An increase in the number of applications for thermoplastic pipes with enhanced features leads to market expansion."
The flexibility of the pipes, which may be transported to the site in long coils, and the possibility of using no-dig technology to install them aid in eliminating jointing and traffic interruption. As a result of the advantages of employing flexible composite pipes in deep- and ultra-deep-water applications, the thermoplastic pipe industry is predicted to grow.
Other significant aspects projected to drive demand for the market over the forecast period include more acceptance of thermoplastic materials in engineering processes and large diameter pipe applications. Furthermore, the thermoplastic pipe market is likely to benefit from increasing the number of horizontal wells used in oil and gas activities.
The Regional Analysis of the Thermoplastic Pipe Market
“Thermoplastic pipe market trends explain that regions like North America and Europe are expected to see healthy growth in the forecast period. Though, environmental concerns and the use of biodegradable equipment in multiple industries are some factors that can harness the growth of the thermoplastic pipe market. “
Global study on thermoplastic pipe market divides the market and its presence in North America, Europe, South America, Asia Pacific, and Middle East & Africa. Asia Pacific region is and will hold the largest thermoplastic pipe market share.
The significant factors behind the high sales of thermoplastic pipes in this region are urbanization and industrialization. The growth of infrastructure, building new cities, and increasing mining activities drive the growth of the thermoplastic pipe market. Countries like China, India, and Australia expand their mining stations, and demand for thermoplastic pipe increases simultaneously.
With rapid urbanization and industrialization activities happening in these regions, the ground and the surface water are getting contaminated on a large scale. As a result, new water treatment plants are opening to produce drinkable water. In addition to this, the water treatment plants are one of the most significant end users for the global thermoplastic pipe market.
The Recent Developments in the Thermoplastic Pipe Market
The thermoplastic pipe market is vast, and the product expands its applications in multiple industries. As a result, the market becomes a goldmine for manufacturers. Each key player has its USP and strategy to launch its product in the market. Some key players are Wiener Berger AG, Strohm, Baker Hughes, Saudi Arabian Amiantit, Advanced Drainage Systems, TechnipFMC plc, Geog Fischer, Prysmian S.p.A, Chevron Phillips Chemical, and IPEX.
Recently, Wiener Berger took 100% shares of Cork Plastics and FloPlast. It is now going to work on its product portfolio and focus on rainwater, drainage, and roofline pipes. The acquisition of total share is likely to help the company provide complete services and give grey water solutions to the residential sector.
One of the major companies, advanced drainage systems, bought some assets of plastic tubing industries. It is likely to help the company increase its market space, customer base, and distribution channels to make manufacturing units in Georgia and Texas.
TechnipFMC acquired many shares of Magma Global as they are likely to use magma’s technology to produce thermoplastic composite pipes (TCPs) using peek polymer.
