Thermoplastic Pipe market by Type (Polyethylene, Polyvinylidene Fluoride, Polyvinyl Chloride, Polypropylene, Polyamide, Reinforces Plastics, Polytetrafluorethylene, Polyether Ether Ketone), Application (Chemical, Oil & Gas, Mining & Dredging, Municipal), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast To 2027

Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global thermoplastic pipe market is expected to grow from USD 2.73 billion in 2019 to USD 4.14 billion by 2027, at a CARG of 5.3% during the forecast period 2020-2027. The Asia-Pacific region dominates the market because of high demand of thermoplastic pipe in chemical and other industries, followed by North America and Europe. Also, Middle East & Africa regions are predicted to have a healthy growth in the forecast years due to increasing oil & gas exploration activities.

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The key players of this market are Simtech, Advanced Drainage Systems Inc., KWH Pipe, National Oilwell Varco, Cosmoplast, Chevron Philips Chemical Co., Prysmian Group, IPEX Inc., Technip, Georg Fscher Piping Systems Ltd. and Airborne Oil and Gas B.V. 

The Technip company is a global energy service company, which operates through 3 business sections that is, subsea, surface and onshore/offshore technologies. The company collaborated with Magma Global to make a new generation of HFP for using it in offshore uses. HFP is assumed to increase the strength and fatigue performance and also achieving cost and weight reduction for subsea fluid transport uses.

The types of Thermoplastic Pipes are Polyethylene, Polyvinylidene Fluoride, Polyvinyl Chloride, Polypropylene, Polyamide, Reinforces Plastics, Polytetrafluorethylene and Polyether Ether Ketone. Polyethylene segment is expected to have a high growth due to its properties such as chemical resistance, overall toughness, flexible and longevity. The thermoplastic pipe has various applications such as Chemical, Oil & Gas, Mining & Dredging and Municipal. The oil & gas segment is expected to grow due to its increasing drilling practices which drives its global thermoplastic pipe market.

The increasing use of thermoplastic pipe across the sectors like municipal, mining & dredging, chemical and oil & gas with its application in deep water and ultra-deep water is the major driving growth factor. The opportunity for the market to grow is by oil & gas sector due to increasing number of horizontal wells and activities. The second opportunity of thermoplastic pipe is municipal which is due to its increasing demand.

The market of thermoplastic pipe includes a huge cost in the safety concerns in the oil & gas sector and production.

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About the report:

The global thermoplastic pipe market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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