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Pune, Maharashtra, October 19, 2022 – Maximize Market Research, a leading market research company has published an intelligence report entitled Global Thermoplastic Pipe Market 2021 which is a complete study of meticulous primary and secondary research. The report systematically covers an analyzed understanding of the market; along with its ever-changing patterns, industry environment, and all leading characteristics of the market. This research methodology has been applied to examine the global Thermoplastic Pipe market and these results have been reasonably mentioned in the report.
As per Maximize Market Research analysis, the Thermoplastic Pipe market was valued at USD 3.2 billion in 2021 and is projected to reach USD 4.66 billion by 2029, growing at a CAGR of 4.8 percent during the forecast period.
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Thermoplastic pipes are made of a polymer material that is produced in large quantities from plants and altered chemically. This kind of pipe is popular in the oil and gas industry because it doesn’t corrode and needs less upkeep than metal pipes. Pipes are a popular option in many pipeline and plumbing systems due to their various advantages, which go beyond preventing corrosion. Some of the most important thermoplastics include polyethylene, high-density polyethylene (HDPE), polypropylene, poly (vinyl chloride), and polystyrene. These polymers can be used for wire and other light-duty structural applications, among many others.
PVC is a thermoplastic polymer that is frequently utilized in a range of industries. The market is currently experiencing rapid growth due in large part to the growing use of thermoplastic composite pipes and reinforced thermoplastic pipes in offshore and onshore production activities, as well as the growing use of thermoplastic pipes in a variety of industries including oil and gas, chemical, mining and dredging, and municipal, as well as applications in deep water and ultra-deep-water. As a result, an increase in the number of applications for thermoplastic pipes with improved properties would present compelling opportunities for the market to grow rapidly. Problems with the large-scale production of thermoplastic composite pipes may result in higher production costs, which could have an impact on market growth.
The demand for thermoplastic pipes may rise due to the increased emphasis on producing renewable energy sources. Consumer interest in the product is increased by its better adaptability/flexibility, lightness, and anti-corrosive properties. Businesses can save costs while boosting productivity with its assistance. Additionally, more pipe usage in the oil and gas sector is anticipated to spur industrial expansion. Strohm, for instance, was granted a contract with Western Australia’s oil and gas sector.
In the oil and gas industry, steel is a key component used to create a variety of tubes and pipelines. In the onshore industry, steel is still widely used for products like coiled tubing and flow lines. On the other hand, thermoplastic composites are mostly used in offshore applications like chemical injection pipes and risers as a superior substitute for steel. It is perfect for underwater applications due to its characteristics, which include wear and corrosion resistance, enhanced stiffness, and strength in reaction to temperature fluctuations and stress deformation.
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Thermoplastic Pipe Market Segment Analysis:
Thermoplastic Pipe Market, by Product Type
Thermoplastic Pipe Market, by Polymer Type
Thermoplastic Pipe Market, by End-User Industry • Oil & Gas
Thermoplastic Pipe Market, by Application
Thermoplastic Pipe Market Regional Analysis:
In 2021, the market was dominated by the Asia-Pacific regional market, which had the biggest revenue share. With a CAGR of 4.6%, this sector is anticipated to continue to rule after the projected period. The utility industry has adopted affordable transportation solutions as a result of growing urbanization and infrastructure development, driving up market demand. Additionally, this has made thermoplastic pipe makers more motivated to switch to this pipe.
Since the plastic pipe is inexpensive and easy to install, it provides advantages over other pipe materials. Additionally, it is anticipated that rising safety concerns in China and sustained demand for polyvinyl chloride (PVC) in India will propel regional thermoplastic market growth.
List of Thermoplastic Pipe Market Key Players:
Related Report Published by Maximize Market Research:
Key Questions answered in the Thermoplastic Pipe Market Report are:
Maximize Market Research provides syndicate as well as custom-made business and market B2B and B2C research on 6,500 high-growth emerging technologies and opportunities as well as threats to the companies across the Chemical, Healthcare, Pharmaceuticals, Electronics and Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Maximize Market Research is positioned to estimate and forecast the market size with the competitive landscape of the industries.
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