The thermoplastic pipe market forecasts a moderate 4.2% annual growth rate from 2023 to 2033, rising from an estimated valuation of USD 2.54 billion in 2023 to USD 3.83 billion in 2033.
Thermoplastic pipe adoption remains widespread. The cost-effectiveness and strong chemical resistance qualities of their product should be a priority for thermoplastic pipe manufacturers. A key obstacle to the expansion of the thermoplastic pipe business is the expense of composite pipes made of PEEK or polyphenylene sulfide (PPS), which are 20-100 times more expensive than steel and are therefore inappropriate for goods like pipes.
Growth Rudiments
| Attributes | Details |
|---|---|
| Thermoplastic Pipe Market CAGR (From 2023 to 2033) | 4.2% |
| Thermoplastic Pipe Market Size (2023) | USD 2.54 billion |
| Thermoplastic Pipe Market Size (2033) | USD 3.83 billion |
| Market Attraction for Thermoplastic Pipe | Asia Pacific is a market with increasing offshore and onshore production operations. |
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The pandemic had an impact on the thermoplastic pipe industry globally and slowed its expansion. The supply chains had deteriorated as a result of restricted city-to-city transit and restricted logistics.
Oil and gas are transported to the final customer via thermoplastic pipes. As water is transported to the plant using these pipes, it is a crucial component of the water treatment facilities. Since water purification plants were frequently shut down, there was little need for crude oil. The global thermoplastic pipe market's expansion was impeded by this.
The value chains of oil and gas commodities have been influenced by supply chain changes and the erratic nature of raw material pricing, which has reduced demand.
OPEC extended its oil production curbs in April 2020 by over 20 million barrels per day (bpd). Additionally, the increased public and governmental pressure on the environmental effects of industrial activities presents new difficulties for producers.
| Attributes | Details |
|---|---|
| Thermoplastic Pipe Market HCAGR (From 2018 to 2022) | 3.4% |
| Thermoplastic Pipe Market Size (2018) | USD 2.15 billion |
| Thermoplastic Pipe Market Size (2022) | USD 2.46 billion |
Thermoplastic pipe liners made of engineering thermoplastic grades like polyvinyl chloride (PVC) and polyethylene (PE) have been widely used. This is because of their low cost and strong chemical resistance characteristics. Higher thermoplastics like polyether ether ketone (PEEK), which cost more and are mostly used in wirelines and seals, have a restricted application.
Although the cost of raw materials and fabrication for thermoplastic pipe systems is considerable, these systems have good abrasion resistance, low flammability, and little smoke and toxic gas emissions. Sadly, the cost of thermoplastic composite pipes made of PEEK or polyphenylene sulfide (PPS) is 20–100 times more than that of steel, rendering them unsuitable for goods like pipes. The thermoplastic composite pipes market has been plagued by this hurdle the most.
Principal Consultant
Large-scale thermoplastic composite pipe manufacturing is challenging because of the increased production costs, which restrains market expansion.
The most frequent changes to polymer composition or processing parameters can only be made through close collaboration between pipe fabricators and polymer manufacturers. This standardization restriction makes it difficult to manufacture composite pipes on a large scale, which raises the price of thermoplastic pipes as a whole.
The thermoplastic composite pipes market expansion is constrained by escalating safety concerns and growing thermoplastic pipe production prices in the oil and gas industry. For thermoplastic pipe producers aiming to expand, overcoming moisture sensitivity and avoiding thermoplastic mold retrogradation are two important concerns.
Positive aspects
Negative aspects
Future possibilities
Challenges
The thermoplastic composite pipes market grows as more industries find more uses for thermoplastic pipes with improved attributes.
The ability to use no-dig technology to install the flexible pipes, which can be brought to the installation site in long coils, helps to reduce traffic disruption and jointing. The thermoplastic pipe industry to expand due to the benefits of using flexible composite pipes in deep- and ultra-deep-water applications.
More widespread use of thermoplastic materials in engineering processes and applications for large-diameter pipes is two additional important factors anticipated to significantly boost thermoplastic pipe demand. Increased utilization of horizontal wells for oil and gas operations to benefit the thermoplastic pipe industry.
Substantial Obstacles to the Sale of Thermoplastic Pipes
Thermoplastic pipe sales face two major challenges: overcoming moisture sensitivity and avoiding thermoplastic mold retrogradation. High production costs with thermoplastic pipes adoption in the oil and gas industry impede thermoplastic composite pipes market expansion and cause safety issues.
Steel is a frequently utilized material in the oil and gas industry to create a variety of tubes and pipelines. Onshore products like coiled tubing and flow lines are still most frequently made of steel. Contrarily, thermoplastic composite pipes are typically used for offshore applications including risers and chemical injection pipes.
It is perfect for underwater applications with properties like wear and corrosion resistance, improved stiffness, and strength in the face of temperature changes and stress deformation. The thermoplastic composite pipe market in the oil & gas industry is anticipated to grow as a result of the adoption of thermoplastic composites in offshore items such as risers, umbilical, and flow lines.
Instead of medium-pressure steel pipes, reinforced thermoplastic pipes are used in the oil and gas industry. Numerous significant companies that are accredited to international standards design pipes with a pressure capacity of up to 450 bar (6527 psi), which may be used for onshore applications. These fully plastic pipes' thermoplastic composite pipe is appropriate for onshore applications.
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Efficiency and cost are the determining variables for the performance of any segment as emerging markets and new rivals assist the global market to flourish.
| Attributes | Details |
|---|---|
| PVC Segment Share | 43.6% |
The thermoplastic composite pipe market is divided into polyethylene (PE), polypropylene (PP), polyvinylidene fluoride (PVDF), and polyvinyl chloride (PVC) segments based on the type of polymer used.
According to a market study on thermoplastic pipes, the polyethylene (PE) segment is predicted to perform better than all other segments in this category.
This segment's excessive growth is mostly caused by its cross-linked structure, which makes it tough and temperature resistant. Polyethylene's flexibility, lightweight, and ease of welding are other factors contributing to its great demand.
The thermoplastic pipe market is categorized into reinforced thermoplastic pipes and thermoplastic composite pipes based on the product type.
The thermoplastic composite pipes market is dominated by reinforced thermoplastic pipes due to their superior performance. The application of RTPs on lower pressure ratings, which go up to 70 bar, sets them apart from TCPs.
Water and wastewater treatment facilities are the main applications for reinforced thermoplastic pipes produced by thermoplastic pipes manufacturers. Due to this, the thermoplastic pipes market is in high demand, and this trend is expected to continue.
| Attributes | Details |
|---|---|
| Oil & Gas Segment Share | 35.6% |
The thermoplastic pipe industry is divided into oil & gas, water & wastewater, mining & dredging, and utilities & renewable based on the end-use industry. According to current developments in thermoplastic pipes, the oil and gas segment is the best-performing one in this area,
Thermoplastic pipes are used by oil and gas refineries to transport the fuel to final consumers via various distribution systems. These promote the demand for thermoplastic pipes and include water injection pipelines, effluent water disposal, temporary surface lines, and water transport & distribution.
Onshore and offshore applications make up the market segments for thermoplastic pipes based on the kind of application.
In the thermoplastic pipe industry, the onshore sector is most expected to hold a larger thermoplastic composite pipes market share. The onshore use of thermoplastic pipes is expanding with the expansion of the asset performance management sector. Since high-pressure devices make extensive use of it, onshore applications continue to have the most demand.
2023 Value Share in Global Market
| United States | 17.0% |
|---|---|
| Germany | 4.1% |
| Japan | 5.5% |
| Australia | 1.6% |
In 2023, the Asia Pacific region's market dominated with a significant revenue share. Through 2033, this sector to continue to be dominant with a CAGR of 4.6%. The utility industry has adopted affordable transportation options as a result of growing urbanization and infrastructure development, which has increased demand. This has made thermoplastic pipe manufacturers more driven to switch to thermoplastic pipes.
Asia-wide nations are making greater attempts to access sewage and drinking water infrastructure, opening up enormous opportunities for the plastic pipe sector. Since plastic pipe is inexpensive and easy to install, it provides advantages over other pipe materials. Growing safety concerns in China and sustained demand for polyvinyl chloride (PVC) in India to fuel regional thermoplastic market expansion.
The increased demand for oil and gas in North America has increased the need for thermoplastics, which can transport oil and fuel safely while overcoming some of the problems with steel pipes, such as corrosion, weight, and fatigue. It serves as one of the main impetuses for the thermoplastic market in the area.
The energy shifts to renewable energy and the region’s goal of becoming climate neutral by 2050 have fueled market demand in Europe. Utilizing environmentally friendly hydrogen with the already-existing plastic pipe network to transport the hydrogen fuel to a variety of industries. The European Union Green Deal as hydrogen has designated one of the main technologies for achieving climate neutrality in Europe.
Market CAGR (2023 to 2033)
| China | 4.9% |
|---|---|
| India | 5.4% |
| United Kingdom | 3.2% |
The thermoplastic pipe industry is enormous, and the product has to expand its uses across numerous industries. As a result, the market turns into a treasure trove for thermoplastic pipe manufacturers. The thermoplastic pipe industry is dispersed.
Businesses are concentrating on emerging nations since they are predicted to have a significant thermoplastic pipe demand. To introduce new products catering to demand and improve plant efficiency, businesses are continuing their research and development efforts.
Economic downturns may cause the thermoplastic pipe industry to decline, which can reduce sales and revenue. On the other hand, a healthy economy results in more demand, which increases sales and revenue.
The market has benefited from people being aware of the advantages of using thermoplastic pipes, such as their capacity to withstand corrosion.
The thermoplastic pipe industry may benefit from the discovery of novel substances and materials.
The thermoplastic pipes demand may change as a result of shifting patterns in the construction sector.
The demand for environmentally friendly thermoplastic pipes is being fueled by the growing understanding of the importance of sustainable development.
The installation of strict regulations on the production of thermoplastic pipes may increase production costs and the final product's cost.
The establishment of legislation and regulations governing thermoplastic pipe safety standards may have a positive impact on the market.
Pivotal Market Innovations
| Company | Wiener Berger AG |
|---|---|
| Strategy | Wiener Berger AG is focusing on long-term goals for its piping solution to meet enthusiastic targets. |
| Details | Wiener Berger AG has established long-term objectives to support the European Plastics Strategy and the European Green Deal. To support the European Plastics Strategy and the European Green Deal, Wiener Berger AG has set sustainable goals for its piping solution as of April 2021. The business specializes in creating goods out of recycled or reused plastic. The material's service life can be increased through recycling by up to 300 years or more. |
| Company | Magma Global |
|---|---|
| Strategy | HWCG received high-pressure composite riser pipes from Magma Global. |
| Details | The fast deployable OFR (Offset Flexible Riser) system from Magma Global was finished in May 2021 when it delivered one of the first high-pressure composite riser pipes in the world to HWCG at its storage facility on the USA Gulf Coast. |
| Company | Baker Hughes |
|---|---|
| Strategy | Baker Hughes has introduced the next generation of Onshore Composite Flexible Pipes. |
| Details | Baker Hughes unveiled the new generation of Onshore Composite Flexible Pipes in January 2021. With the advent of this new pipe range, problems like corrosion and difficulties like the cost of ownership of traditional steel pipes are addressed. |
The thermoplastic pipe industry was valued at USD 2.46 billion in 2022.
By 2033, the thermoplastic pipe industry is anticipated to produce USD 3.83 billion.
The thermoplastic pipe industry is expected to yield USD 2.54 billion by 2023.
From 2023 to 2033, the thermoplastic pipe industry is expected to rise at a CAGR of 4.2%.
Between 2023 and 2033, the thermoplastic pipe industry's oil and gas segment may gain a 35.6% market share.
From 2023 to 2033, the PVC segment of the thermoplastic pipe market to have a 43.6% market share.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Reinforced Thermoplastic Pipes (RTP) 5.2. Thermoplastic Composite Pipes (TCP) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use Industry 6.1. Oil & Gas 6.2. Water & Wastewater 6.3. Mining & Dredging 6.4. Utilities & Renewable 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Onshore 7.2. Offshore 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Wiener Berger AG 16.2. Strohm 16.3. Baker Hughes 16.4. Saudi Arabian Amiantit 16.5. Advanced Drainage Systems 16.6. TechnipFMC plc 16.7. Geog Fischer 16.8. Prysmian S.p.A 16.9. Chevron Phillips Chemical 16.10. IPEX 17. Assumptions & Acronyms Used 18. Research Methodology
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Thermoplastic Pipe Market
