Chemicals and Advanced Materials

Thermoplastic Pipe Market Segmentation by Type (Thermoplastic Composite Pipe (TCP), and Reinforced Thermoplastic Pipe (RTP)); by Polymer Type (PVC, PVDF, PP, PE, and Others); by Application (Oil & Gas, Municipal, Mining, Chemical, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • November 2019: IPEX completed the stock purchase of pipe producer Silver Line Plastics LLC. The deal brought together No.8 and No. 34 pipe, tubing extruders, and profile with an estimated sales value of USD 460 million and USD 140 million, respectively.


Thermoplastic Pipe Market Highlights 2022 – 2030

The thermoplastic pipe market is estimated to garner a sizeable revenue by recording a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rising demand for corrosion-resistant pipelines, increasing usage of thermoplastic pipes in the treatment of wastewater, and growing number of oil & gas drilling activities. For instance, according to the U.S. Energy Information Administration, an average of 1,029 barrels/day of new-well oil was produced per rig, as of June 2021. The quantity amounted to be 1,031 barrels/day for new-well gas. Along with these, excellent properties of thermoplastics, such as high chemical resistance, flexibility and superior strength are also expected to boost the demand for the product in the upcoming years. Furthermore, the installation and service cost of maintaining a pipeline can be reduced significantly by using thermoplastic pipes, which in turn is projected to expand the market in the near future.

Global-Thermoplastic-Pipe-Market-Overview

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The market is segmented by application into oil & gas, municipal, mining, chemical, and others, out of which, the oil & gas segment is anticipated to hold the largest share in the thermoplastic pipe market. The usage of thermoplastic as an alternative to conventional pipes is increasing. In addition, as thermoplastic doesn’t require any kind of maintenance and is highly resistant to varying pressure up to high temperatures, it is widely used during oil & gas drilling procedures, which in turn is evaluated to boost the growth of this market segment in the future. Additionally, on the basis of polymer type, the polyethylene (PE) segment is projected to witness the fastest growth during the forecast period owing to the effectiveness of PE in harsh environments at extremely high and low temperatures. The flexibility and lightweight of these pipes are also assessed to drive growth to this market segment in the coming years.

Major Macro-Economic Indicators Impacting the Market Growth

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The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.


Global Thermoplastic Pipe Market Regional Synopsis

On the basis of geographical analysis, the thermoplastic pipe market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to grab the largest market share and witness noteworthy growth over the forecast period on the back of rising population, increasing water and energy demand, and the rapid growth of urbanization in the region. According to the International Energy Agency, the overall energy demand in the Southeast Asia has increased by more than 80% since 2000. Every year the electricity demand increase by 6% in the region. Apart from these, robust growth of industrialization in countries, namely China, India and Australia, is also anticipated to expand the region’s market in the near future. Moreover, the markets in Latin America and the Middle East & Africa are also expected to witness noteworthy growth during the forecast period, which can be credited to the rising investments by major market players in the region.

Global-Thermoplastic-Pipe-Market-Share

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The thermoplastic pipe market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Market Segmentation

Our in-depth analysis of the thermoplastic pipe market includes the following segments:

By Type

  • Thermoplastic Composite Pipe (TCP)
  • Reinforced Thermoplastic Pipe (RTP)

By Polymer Type

  • PVC
  • PVDF
  • PP
  • PE
  • Others

By Application

  • Oil & Gas
  • Municipal
  • Mining
  • Chemical
  • Others

Growth Drivers

  • Increasing Demand for Corrosion-Resistant Pipelines
  • Rising Use of Thermoplastics for Water Treatment

Challenges

  • High Production Cost of the Pipes in Oil & Gas Sector


Global-Thermoplastic-Pipe-Market-Overview
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Top Featured Companies Dominating the Market

    • Advanced Drainage Systems Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Georg Fischer Piping Systems Ltd.
    • Chevron Phillips Chemical Company
    • IPEX Inc.
    • Airborne Oil & Gas B.V.
    • Pipelife Nederland BV
    • Future Pipe Industries
    • Master Tech Company FZC
    • AMIANTIT Service GmbH
    • Prysmian Group

Key Questions Answered in the Report

1) What are the major factors driving the growth of the thermoplastic pipe market?

Ans: The major growth drivers for the market are increasing demand for corrosion-resistant pipelines and rising use of thermoplastics for water treatment.

2) What would be the CAGR of thermoplastic pipe market over the forecast period?

Ans: The major growth drivers for the market are increasing demand for corrosion-resistant pipelines and rising use of thermoplastics for water treatment.

3) What are the challenges affecting the thermoplastic pipe market growth?

Ans: High production cost of the pipes in oil & gas sector is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of thermoplastic pipe market in future?

Ans: Asia Pacific will provide more business opportunities on the back of rising population, and increasing water and energy demand.

5) Who are the major players dominating the thermoplastic pipe market?

Ans: The major players in the market are Advanced Drainage Systems Inc., Georg Fischer Piping Systems Ltd., Chevron Phillips Chemical Company, IPEX Inc., Airborne Oil & Gas B.V., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the thermoplastic pipe market?

Ans: The market is segmented by type, polymer type, application, and region.

8) Which segment captures the largest market size in the polymer type segment in the thermoplastic pipe market?

Ans: The PE segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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