Thermoplastic Pipe Market Size

Thermoplastic Pipe Market Analysis

The thermoplastic pipe market is expected to grow at a CAGR of over 3% during the forecast period of 2020-2025. The service cost of maintaining a pipeline can be reduced by using thermoplastic pipes, that are cheaper in prices, takes less time to install, and are corrosion resistant. The major driver of the market is the increasing demand for non-corrosive pipelines in the oil & gas industry and increasing uses in the municipal sector, majorly in the Asia-Pacific region. However, the unpredictable failure of thermoplastic pipes, especially in the oil & gas sector is expected to hinder the market growth in the coming years.

• Oil & Gas is one of the prominent sectors that is using thermoplastic for oil & gas transportation. High corrosion on the conventional pipes, attracts the oil & gas operators to move towards thermoplastic pipes.
• Thermoplastic pipes are non-corrosive and don't require any kind of maintenance. With the increasing rate of oil & gas activities around the world, especially in the offshore sector, there is much possibility of uses of thermoplastic pipes to have lower maintenance charges than the conventional pipes. Furthermore, the involvement of high corrosive fluid during enhance oil recovery (EOR) require regular maintenance of conventional pipes. Replacement of EOR pipelines with the thermoplastic pipe is expected to create an opportunity as well.
• The Asia Pacific is dominating the thermoplastic market, with a higher rate of thermoplastic pipes for water transportation. Moreover, with the growing oil & gas activities, the region is expected to dominate the market in the forecast period as well.