Reinforced Thermoplastic Pipes Market
Reinforced Thermoplastic Pipes Market By Classification (HDPE, PA, PVDF), By Reinforced Material (Aramid, Glass Fiber, Steel), By Pipe Size (Up to 4 Inches, 6 Inches, Above 6 Inches), By End Use (Oil and Gas, Chemical), By Region - Global Market Insights 2022 to 2032
Analysis of Reinforced Thermoplastic Pipes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Reinforced Thermoplastic Pipes Market Outlook
The global reinforced thermoplastic pipe (RTP) market size is set to reach US$ 282.4 million in 2022 and is projected to grow at a CAGR of 4.7% to reach US$ 457.3 million by the end of 2032.
RTP market Size (2021A)
US$ 270.0 Million
RTP Market Size (2022E)
US$ 282.4 Million
Forecasted Market Value (2032F)
US$ 457.3 Million
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
Market Share of Top 5 Companies
Key Companies Profiled
Comprehensive Analysis of Market
Significant properties of reinforced thermoplastic pipes, such as light weight, flexibility, durability, corrosion resistance, and ability to form integral joints offer many advantages over other types of pipes, such as those made from steel and cast iron. Many HDPE pipe manufacturers are offering double-wall corrugated HDPE pipes that offer additional stiffness and strength to pipes over traditional HDPE pipes.
Moreover, small-diameter HDPE pipes can be used over long lengths. They also do not need high maintenance and are less prone to leakages ultimately reducing labor costs. Thus, the growing demand for RTP for oil & gas applications with rising oil demand and refinery expansions is expected to fuel the demand for HDPE-reinforced thermoplastic pipes during the forecast period.
- Short-Term Viewpoint: The surge in demand for crude oil has forced manufacturers to expand their production capacities and have forced them to look further into oil and gas reserves. Inline refinery projects worth millions of dollars are set to create ample demand for reinforced thermoplastic pipes during the forecast period. Further, the trend of noncorrosive and easy-to-install pipes is set to assist the market throughout the assessment period.
- Medium-Term Aspect: The ability to form fused joints offers many advantages over conventional pipes made from steel, and cast iron fueling the demand for RTP in a range of applications. Besides, it saves upfront costs and eliminates the need for welding and X-ray inspections. Attributed to its numerous advantages over conventional pipes it has become the talk of the town in many applications. Increasing demand from niche applications like hydrogen transport, chemical transfer lines, water distribution, and others, is set to result in additional demand for reinforced thermoplastic pipes during the forecast period.
- Long-Term Panorama: R&D coupled with the launch of novel solutions to meet the end-users demand supplement the market’s growth.
Over the historical period of 2017-21, the global RTP market registered a CAGR of 4.2%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.7% CAGR between 2022 and 2032.
Market share analysis of RTP based on pipe size and region is provided in a nutshell in the above image. Under the pipe size segment, up to 4 inches segment dominates with a 55.3% market share in 2022.
“Increasing Inshore and Onshore Search of Gas Reserves Set to Bolster Market’s Growth”
Rising consumption of oil and gas is being witnessed in developed and developing regions. Thus, industries are focusing on expanding their production facility through onshore and offshore exploration of oil & gas to fulfill the continuously increasing demand for oil & gas.
Consumption of natural gas is projected to increase more than oil & coal and is poised to experience Y-o-Y (year-on-year) growth of 1.6% throughout the assessment period.
According to International Energy Outlook, global natural gas suppliers have to increase their supply capability by 70% by the end of 2040. Further, shale gas production will be responsible for more than 60% of the natural gas supply (BP energy outlook).
Increasing exploration of shale gas, which constitutes onshore exploration activity is set to result in additional demand for reinforced thermoplastic pipes during the forecast period. Further, increasing onshore exploration activity and transportation via pipelines are expected to boost the demand for RTP pipes.
There are currently more than 130 pipeline construction and exploration projects for natural gas alone in the US that are estimated to be finished in the upcoming years, just in the US.
For instance, Spectra Energy Partners, DTE Energy Co., and LP are the major developers of the NEXUS project, which is anticipated to cost US$ 2.0 billion for the production of Natural gas from Utica and Marcellus and its transportation to end-use markets of Upper Midwest of the US and Canada.
“Increasing Adoption of RTPs in Water Distribution Channels to Assist Market Growth”
Water scarcity and changing demographics are the key issues for players in the water industry. According to the organization for Economic Co-operation and Development (OCED), by 2050, the demand for water is poised to increase by over 50% compared to the present demand, which is mainly driven increasing population.
As per the United Nations stats, the global population is set to touch the ~10 Bn mark by 2050. Analyzing the global consumption and forecast demand, the world is likely to suffer a shortfall of nearly 40% for water. In response, the water treatment industry is set to register significant growth during the forecast period.
Further, the increasing demand for water has forced countries to search for fresh water. Global water mega transfer projects are set to create significant demand for reinforced thermoplastic pipes during the forecast period.
Moreover, ongoing old pipe network maintenance projects across the globe and increasing preference for reinforced thermoplastic pipes in water distribution channels are set to result in additional demand for reinforced thermoplastic pipes by 2031.
“Low-priced Conventional Pipes to Maintain Leading Position in Global Pipes Market”
Due to low prices, conventional pipes are still in use in numerous markets, where conditions align with their properties making them usable. For high-pressure applications, steel pipe is the choice of pipe from the oil & gas industry to the water industry.
Further, continuous innovative product offerings by steel pipe manufacturers are increasing the competition in the market and are likely to hamper the sales of reinforced thermoplastic pipes during the forecast period.
Less penetration across the globe due to a lack of awareness is expected to squeeze the demand. Moreover, enhanced thermoplastic composite pipes are set to decline the demand for reinforced thermoplastic pipes during the forecast period.
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Why there is a consistent demand for RTP Pipes in the US?
The United States being a leading oil production has driven the consumption of reinforced thermoplastic pipes during the historical period accounting for over one-third of the global demand throughout the historical period.
The shale gas revolution in the United States is poised to drive the regional RTP market during the forecast period. Moreover, inline capital expenditure on oil and gas projects in North America is set to assist the market growth.
For instance, companies such as Venture Global Partners LLC, Alaska Gasline Development Corp (AGDC), and TC Energy Corporation, have planned to invest collectively over US$ 80.0 billion by the mid-term forecast for over 30 oil and gas projects.
Alone TC Energy Corporation has planned over 20 oil and gas projects across midstream, downstream, and petrochemical segments. Attributed to the aforementioned facts and emerging demand for non-corrosive pipes are set to give impetus to the US reinforced thermoplastic pipes market during the forecast period.
How is Brazil providing lucrative growth opportunities for RTP?
Brazil is the second largest non-OPEC producer of crude oil after the United States. The scenario is projected to continue till the mid-term forecast. Brazil is the leading oil producer in Latin America hence it has driven the consumption of reinforced thermoplastic pipes during the historical period.
The scenario is projected to continue due to ongoing shale gas investments in the region. There are over 40 upcoming oil projects alone in Brazil which is set to assist the region to grow over the forecast period. With capital investments of over US$ 82 billion by the end of 2025 companies like Petróleo Brasileiro S.A. are set to drive market growth.
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Why Oil and Gas Industry has High Demand for the RTP?
Strong penetration of reinforced thermoplastic pipes could be observed across prominent oil & gas producing regions on the back of positive network externalities and lower pipe maintenance costs through the oil & gas supply chain.
Also, current growth in oil & gas production proportionally enhances the need for an extended pipeline to oil & gas transportation providing a boost to the existing reinforced thermoplastic pipes demand.
Why Glass Fiber-based RTP is Gaining Traction?
Among other reinforcement materials, glass fibers are expected to experience a consistent growth rate. In extremely corrosive applications like those involving sour fluids and gases, high tensile and flexural strength is increasing its demand.
The aerospace, automotive, marine, and construction industries frequently use reinforced thermoplastic pipes made with glass fibers because of their improved mechanical properties.
Manufacturers Approach and Prospectus
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 AG, among others.
Market players have been strategically focusing on the high-potential reinforced thermoplastic pipes market and in response to increasing demand, they have invested millions of dollars in production capacity expansion.
Companies have extended their international reach, especially across untapped markets, and deepened their roots in high-potential regions such as the Middle East and Africa, which are poised to experience leading positions in the reinforced thermoplastic pipes market.
Market players are continuously striving to anchor their presence in highly lucrative regions, including MEA and North America. Along with production capacity expansions, players have also been involved in other organic strategies, such as enhanced product offerings to strengthen their market position across the globe.
- To produce Coflexlite, a specialized RTP (reinforced thermoplastic) pipe used in the oil and gas exploration and production industries, Cosmoplast signed a production and sales agreement with Technip-Coflexip in the Gulf and Middle Eastern countries in May 2021.
- For the energy, oil & gas, and industrial sectors, Baker Hughes publicized the introduction of its cutting-edge onshore composite-based flexible pipe in January 2021 to manage the cost of ownership challenges and corrosion with a conventional steel pipe. This product's flexibility and light weight make it a more cost-effective and environmentally friendly option than onshore steel pipes, which consume a lot of resources.
Fact.MR has provided detailed information about the price points of key manufacturers of RTP positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of the RTP Market
- HDPE (High-density polyethylene)
- PA (Polyamide)
- PVDF (Polyvinylidene fluoride)
By Reinforced Material
- Glass Fiber
By Pipe Size
- Measuring Up to 4 Inches
- Measuring 6 Inches
- Measuring Above 6 Inches
By End Use
- Pipes for Oil & Gas
- On Shore Operations
- Off Shore Operations
- Chemical Industry
- Water Industry
- Other End Uses
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
Glass fiber-reinforced thermoplastic pipes are likely to expand at nearly 5.4% CAGR by 2032.
To address the larger market and to leverage immense profit from the huge oil and gas industry players have been tapping high-pressure applications. For instance, steel-reinforced thermoplastic pipes are able to sustain pressure up to 450 bar eventually i
During 2017-2021, sales of RTP increased at 4.2% CAGR.
North America, Europe, Asia-Pacific, Latin America, and MEA are the major addressable regions for the RTP Market.
As of 2022, sales of reinforced thermoplastic pipes reached US$ 282.4 million.