What Has Been the Progress and Growth of the Thermoplastic Pipe Market in Recent Years?
The thermoplastic pipe market has seen considerable growth due to a variety of factors.
• There has been hefty growth in the size of the thermoplastic pipe market in the past few years. The market, which was worth $3.21 billion in 2024, is predicted to increase to $3.41 billion in 2025, marking a compound annual growth rate (CAGR) of 6.1%.
Several factors have fueled this growth in the historic phase, including regulatory alterations, advancements in infrastructure, worldwide economic situations, and concerns about the environment.
What is the Forecasted Market Size and CAGR for the Thermoplastic Pipe Market?
The thermoplastic pipe market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for thermoplastic pipes is projected to experience robust growth and reach a value of $4.42 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%.
Several factors are contributing to this growth during the forecast period, including the expansion of the oil and gas sector, a surge in the usage of renewable energy, widespread utilization of thermoplastic pipes, and governmental regulations ensuring the safe transport of oil and natural gases. The period is also expected to witness significant trends such as advanced material development, hybrid solutions and composites, utilization of cutting-edge manufacturing methods, and increased innovation and competition.
What Are The Key Drivers Fueling Growth In The Thermoplastic Pipe Market?
The thermoplastic pipe market is expected to witness substantial growth due to rising demand from the oil and gas sector for materials resistant to corrosion. Pipe corrosion represents the electrochemical breakdown and oxygenation of a pipe's configuration. The application of thermoplastics in the production and transportation of oil and gas is gradually being recognized as a durable and efficient solution to curb corrosion. These kind of pipelines, being lighter and demonstrating higher resistance to corrosion than metals, enable oil and gas companies to drill and extract from deeper offshore oilfields. For example, per the data released by the US-based non-profit organization, Association for Materials Protection and Performance (AMPP), in January 2023, the annual cost incurred from corrosion to the oil and gas industry in the United States alone is projected to be $27 billion. Other sources estimate the worldwide yearly corrosion cost incurred by the industry to exceed $60 billion. Therefore, the increasing need among oil and gas industry for corrosion-resistant materials accelerates growth in the thermoplastic pipe market.
What Are The Principal Market Segments In The Global Thermoplastic Pipe Healthcare Industry?
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 Emerging Market Trends Are Altering The Thermoplastic Pipe Market?
Product innovations are emerging as a significant trend in the thermoplastic pipe market, with primary companies creating innovative thermoplastic pipes with advanced features to maintain their market footprint. These features include fire and corrosion resistance, lightweight construction, built-in reinforcement layers, unique end-uses, among others. Case in point, GP Piping Systems, based in Switzerland and active in the thermoplastic pipes market, introduced Heat-fit in March 2022. This innovative fire-retardant solution is the first of its kind for thermoplastic pipe jackets, offering a corrosion-free and lightweight thermoplastic piping system for various applications. The applications range from merchant vessels and offshore platforms to onboard cruise ships.
Who Are the Key Players in 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
What are the Regional Insights into the Thermoplastic Pipe Market?
Asia-Pacific was the largest region in the thermoplastic pipes market share in 2024. The regions covered in the thermoplastic pipe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
