Feb 06, 2020
Reinforced Thermoplastic Pipes to Show Steady Growth at 5%, with Escalating Demand for High Pressure Applications, Says Fact.MR
by Team Fact.MR
Reinforced thermoplastic pipes (RTP) are steadily gaining traction and are set to become 21st century pipeline solutions. Their immunity to corrosion and ability to withstand high pressure up to 450 bar is giving impetus to their demand in various end use applications. In terms of durability and corrosion resistivity, RTP outperforms conventional pipes creating lucrative opportunities in the market. In addition, burgeoning demand for high performance and off-shore applications are set to drive the market at a CAGR of 5% during the forecast period (2019-2029). With reinforced thermoplastic pipes set to cost 40% lesser than conventional plastic variants, their demand will escalate during the forecast period. Their ability to improve flow rate by as much as 30% will act as a potential growth lever.
Key Takeaways of Reinforced Thermoplastic Pipes Market:
- Escalating demand from on shore and off shore applications is projected to propel the RTP market.
- Efficacy to offer rapid and low cost installations coupled with fire-resistant properties is set to increase consumption of RTP in oil & gas applications.
- Based on classification, HDPE (high density polyethylene), has led the market in terms of value in 2018 and is projected to maintain its supremacy over other materials, creating an absolute $ opportunity worth US$ 140 Mn by 2029
- Glass fiber reinforced material is forecast to witness positive growth rate of ~6% and is set to account for near half of the revenue share by 2029
- Based on pipe size, up to 4 inches segment is set to maintain its reign among other sizes gaining 160 BPS in its market share till 2029
- MEA region is anticipated to expand at a leading growth rate, reaping absolute $ opportunity worth US$ 61 Mn during the forecast period.
“Burgeoning demand from oil & gas pipeline projects and water injection applications is set to amplify the market’s growth during the forecast period”, says the Fact.MR analyst.
Facility Expansion and Product Innovation to Remain Key Strategies in RTP Market
RTP market is highly consolidated in nature in which Baker and Hughes, Cosmoplast, H.A.T-Flex, National Oilwell Varco, OPR Offshore Pipelines & Risers Inc, PES.TEC, Saudi Arabian Amiantit Co., Saudi Aramco, Shawcor and Wienerberger dominate the market. During the historical period (2014-2018), prominent companies have been involved in numerous facility expansions to anchor their presence in highly lucrative regions. Several players have expanded their product portfolio with enhanced properties to serve more niche applications including chemical and gaseous (H2S and CO2) applications.
More Valuable Insights on Reinforced Thermoplastic Pipe Market:
Fact.MR, in its new offering, presents an unbiased analysis of the RTP market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study divulges essential insights on the RTP on the basis of classification (HDPE (high-density polyethylene, PA (polyamide, PVDF (polyvinylidene fluoride) and others), reinforcement material (aramid, glass fiber and steel) and pipe size (up to 4 inches, 6 inches, and above 6 inches) across six major regions.
>>> To Get more insights on reinforced thermoplastic pipe market, visit- https://www.factmr.com/report/2237/reinforced-thermoplastic-pipes-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs and requirements of entire value chain of Chemical & Materials sector. A team of passionate analysts track the performance of the existing Chemicals & Materials as well as those that have just entered their product life cycle. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the Chemicals & Materials lucidly in 50+ countries for over a decade. The Chemicals & Materials team at Fact.MR has been assisting clients in their business expansion as well as their new ventures, through their analysis and recommendations.