Thermoplastic Pipe Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Product Type (Reinforced Thermoplastic Pipes (RTP) and Thermoplastic Composite Pipes (TCP)); Polymer Type (Polyethylene (PE), Polypropylene (PP), Polyvinylidene Fluoride (PVDF), Polyvinyl Chloride (PVC), and Others); Application (Oil & Gas, Chemical, Municipal, Mining, and Others); and Region/Country
Detailed Analysis of COVID-19 Impact on the Thermoplastic Pipe Market
The global thermoplastic pipe market is expected to witness a CAGR of around 4% during the forecast period (2021–2027). This is mainly due to the rising application of thermoplastic pipes in offshore and onshore production activities are some other major drivers responsible for market growth. For instance, Strohm makes maiden foray into Western Australia with TCP Jumper Spools for Woodside’s Julimar project. With the contract, the Strohm will supply 2” 10,000 psi TCP Jumper Spools to be used for Monoethylene Glycol (MEG) injection service. The TCP Jumper Spools are planned for delivery later this year and will be deployed in the Julimar field, located approximately 200 km offshore Northwestern Australia.
Thermoplastic pipes are made using polymer materials that are chemically processed and synthesized in substantial amounts. Its low corrosion and lower maintenance may propel its sales. Furthermore, they are an effective alternative to plumbing and piping solutions due to their advantages. Thus, the market is expected to witness significant growth during the forecast period.
Further, increasing use of thermoplastic pipes by the municipal sector for wastewater treatment and transportation, especially in developing nations across regions. Furthermore, the rising application of thermoplastic pipes in offshore and onshore production activities are some other major drivers responsible for market growth. Reinforced thermoplastic pipes (RTP) are being used in the oil & gas industry, where it is used to replace medium-pressure steel pipes. Various significant companies, which are certified for international standards, design pipes with a pressure capacity of up to 450 bar or 6527 psi and can be used for onshore applications. Moreover, the high corrosion rate of conventional pipes entices oil and gas companies to switch to thermoplastic pipes. Furthermore, the involvement of high corrosive fluid during enhances oil recovery (EOR) requires regular maintenance of conventional pipes. Thus, the growing replacement of EOR pipelines with the thermoplastic pipe is expected to create an opportunity as well.
Advanced Drainage Systems Inc., Strohm B.V., TechnipFMC plc, Georg Fischer Ltd., Wienerberger AG, Baker Hughes Company, Chevron Phillips Chemical Company LLC, Saudi Arabian Amiantit Co., Simtech Process Systems, and Shawcor Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Type, RTP accounted for the majority share in the market in 2020”
Based on product type, the market is classified into reinforced thermoplastic pipes (RTP) and thermoplastic composite pipes (TCP). In 2020, RTP accounted for the majority share in the market. Reinforced thermoplastic pipe (RTP) offers the advantages of corrosion resistance and is lightweight and is used in moderate temperature and pressure applications. Furthermore, an increasing number of horizontal wells during oil and gas activities coupled with high energy demand is expected to establish a major opportunity for market growth. At zero allowable water leakage, the HDPE pipes are highly efficient as compared to Polyvinyl Chloride (PVC) and ductile iron pipes, which have a leakage rate of 10% to 20%. Moreover, their resistance to corrosion and low weight contribute to the higher preference for HDPE pipes. Thus, growing utility installations, burgeoning investments in shale gas development projects, and rising adoption of cost-effective products in exploration activities is further expected to drive the market.
“Amongst Polymer Type, PE category is expected to witness the fastest growth rate during the forecast period”
Based on polymer type, the market is categorized into polyethylene (PE), polypropylene (PP), polyvinylidene fluoride (PVDF), polyvinyl chloride (PVC), and others. Amongst polymer type, the PE category is expected to witness the fastest growth rate during the forecast period. Oil and gas companies and mining companies seeking cost-cutting measures may be considering high-density polyethylene (HDPE) pipe as an alternative to steel pipe due to its cost-effectiveness. In addition, the use of HDPE pipe for wastewater and sewer applications has become increasingly popular due to pipe bursting, slip lining, and other trenchless installation methods. Moreover, nations across the world have enforced strict norms against polluting the naturally occurring water bodies and illegal discharge of wastewater. In countries such as China, which were severely impacted by air pollution, special laws have been implemented to protect it from the harmful impact of wastewater discharge. Thus, increasing awareness and investments in water and wastewater management is anticipated to create significant opportunities for market players.
“Amongst Application, the municipal category is expected to witness the fastest growth during the forecast period”
Based on application, the market is categorized into oil & gas, chemical, municipal, mining, and others. Among these, the oil & gas category accounted for a significant market share in 2020. However, the municipal category is expected to witness the fastest growth during the forecast period. This is mainly due to the increasing investments in water infrastructure and the rising number of desalination plants, thus resulting in the growing adoption of thermoplastic pipes in water and wastewater management. Furthermore, developing nations are speeding up construction projects in commercial as well as residential areas due to the rapid growth in the urban population. For instance, as per the World Bank Group, the urban population of India increased by more than 100 million in the last ten years. In 2020, the Indian urban population was ~480 million as compared to ~380 million in 2010. Thus, urbanization across the globe has resulted in expansion and increased demand for infrastructural developments and water supply, which has subsequently increased demand for thermoplastic pipes in the municipal sector.
“APAC to witness significant growth during the forecast period”
Asia-Pacific is expected to witness the highest CAGR in the thermoplastic pipe market, during the forecast period. The major contributors to the growth of this market are China, India, and Australia. The increase in infrastructure development in emerging economies, as well as the expansion of the oil and gas sector, coupled with the rising awareness and stringent regulations for efficient water treatment, are some factors responsible for the growth of the region’s market. Although water withdrawals for domestic and municipal use globally account for a modest part of total water use, they are growing rapidly, especially due to population growth in the urban areas of developing countries. With the rapid growth in the region’s population and urbanization, the global demand for thermoplastic pipes for water and wastewater transportation and treatment is further expected to witness significant growth. In addition, an increase in exploration activities in several Asia-Pacific countries such as China and India and the massive development of shale plays will further strengthen the market for thermoplastic pipes.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Thermoplastic Pipe Market|
|2.2.||Research Methodology of the Thermoplastic Pipe Market|
|2.5.||Main Objective of the Thermoplastic Pipe Market Study|
|5||GLOBAL THERMOPLASTIC PIPE MARKET COVID-19 IMPACT|
|6||GLOBAL THERMOPLASTIC PIPE MARKET REVENUE (USD BN), 2019-2027F|
|7.1.||Reinforced Thermoplastic Pipes (RTP)|
|7.2.||Thermoplastic Composite Pipes (TCP)|
|8.3.||Polyvinylidene Fluoride (PVDF)|
|8.4.||Polyvinyl Chloride (PVC)|
|9.1.||Oil & Gas|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.5.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||THERMOPLASTIC PIPE MARKET OPPORTUNITIES|
|13||THERMOPLASTIC PIPE MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porter’s Five Forces Analysis|
|17.1.||Advanced Drainage Systems Inc.|
|17.4.||Georg Fischer Ltd.|
|17.6.||Baker Hughes Company|
|17.7.||Chevron Phillips Chemical Company LLC|
|17.8.||Saudi Arabian Amiantit Co.|
|17.9.||Simtech Process Systems|
Research Methodology for the Global Thermoplastic Pipe Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global thermoplastic pipe market were the three major steps undertaken to create and analyze the adoption of thermoplastic pipe in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global thermoplastic pipe market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of thermoplastic pipe market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the thermoplastic pipe market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type, polymer type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the thermoplastic pipe market. Further, we conducted factor analysis using dependent and independent variables such as various product type, polymer type, and application of thermoplastic pipe equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Thermoplastic pipe market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global thermoplastic pipe market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of thermoplastic pipe market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global thermoplastic pipe market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global thermoplastic pipe market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, polymer type, and application in the global thermoplastic pipe market.
The main objective of the global thermoplastic pipe Market Study
The current & future market trends of global thermoplastic pipe market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the thermoplastic pipe market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, polymer type, and application.
- Define and analysis of the regulatory framework for the thermoplastic pipe market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the thermoplastic pipe market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the thermoplastic pipe market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry