Thermoplastic Pipe Market

Thermoplastic Pipe Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 3.4 billion and is projected to reach USD 6 billion by the completion of 2034.

Product Overview

Thermoplastic pipes are made of plastic polymers and provides unique ability to be reshaped multiple times, without compromising structural integrity. These pipes are composed of polymers such as Polyethylene Pipe (PP), Poly Vinyl Chloride Pipe (PVC), Polypropylene Pipe (PP), and are used for their flexibility across various industries including construction, plumbing, and agriculture. Additionally, thermoplastic pipes are known for their exceptional corrosion resistance, which ensures durability in severe conditions exposed to chemicals, moisture, and temperature fluctuations. Furthermore, their lighter weight streamlines transportation and installation processes, which results in low labor costs and make them ideal for large-scale projects. Moreover, their smooth inner surface significantly reduces friction, which optimizes the flow of liquid and reduces the probability of obstructions. Hence, due to their ability to withstand harsh conditions and their cost-effectiveness, thermoplastic pipes have emerged as the preferred choice for piping requirements across various industries.

Market Highlights

Thermoplastic Pipe Market is anticipated to demonstrate a Compound Annual Growth Rate (CAGR) of 5.4% throughout the forecast period spanning from 2024 to 2034

Thermoplastic Pipe Market is expected to achieve USD 6 billion, showcasing a significant growth during the forecast period, owing to their versatile applications and practical advantages across industries. Thermoplastic pipes are commonly used for their corrosion resistance and lightweight composition, which provides easy installation and adaptability to multiple environmental settings. Their ability to withstand harsh environments, such as chemical exposure and varying temperatures, has significantly increased their demand across industries including chemical processing, water management, and construction. Additionally, the global emphasis on sustainability has accelerated the adoption of thermoplastic pipes as they have a lower environmental impact compared to traditionally used materials. Therefore, thermoplastic pipe market is expected to maintain its growth trajectory with the continuous infrastructure development and need for efficient fluid transportation across industries.

Source: Fatpos Global

Thermoplastic Pipe Market Segmentation

Polyethylene segment to expand owing to its ability to withstand harsh conditions

Based on Polymer Type, the Thermoplastic Pipe Market is divided into Polyethylene Pipe, Poly Vinyl Chloride Pipe, Polypropylene Pipe, Polyvinylidene Fluoride, and Others. Polyethylene (PE) segment has the largest market share due to their ability to withstand low temperatures, reducing the possibility of breakage. PE pipes are essential in industries requiring low-temperature heat transfer systems, like radiant floor heating installations, where it's important to preserve structural integrity in cold conditions. Additionally, due to their ability to efficiently transmit heat at lower temperatures, PE pipes find practical application in snow melting systems, ice rinks, and geothermal ground source heat pump piping. Therefore, due to their dependability in climates with significant temperature variations, PE pipes are usually preferred, which makes them important in various infrastructure projects across commercial, residential, and industrial landscapes.

Reinforced Thermoplastic Pipe (RTP) segment will dominate due to its strength and compatibility

By Product Type, the Thermoplastic Pipe Market is typically segmented into Thermoplastic Composite Pipe (TCP) and Reinforced Thermoplastic Pipe (RTP). The RTP segment is projected to lead the market due to its strength-to-weight ratio, chemical compatibility, and resistance to paraffin buildup. These characteristics make RTP a reliable choice for transporting hydrocarbons and chemicals, which encourages its adoption among oil and gas companies. Furthermore, in order to maintain a consistent growth in the thermoplastic pipe market, a focused approach has been made to expand the applications of RTP, owing to its known dependability and efficiency.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Increased Demand for Construction and Infrastructure Will Drive Market Expansion

Increasing demand for thermoplastic pipes in infrastructure and construction projects is driving the growth of the market as these pipes provide intrinsic features such as flexibility, durability, and corrosion resistance, which makes them an essential component of many applications. Their widespread adoption in modern construction projects including gas pipelines, sewage systems, and water distribution networks, is due to their ability to meet strict performance standards while providing cost-effective and easily deployable solutions. Additionally, with the ongoing urbanization and the increasing need for infrastructure development, thermoplastic pipes are considered as a dependable option. Furthermore, thermoplastic pipes address the rising demand in residential, commercial, and municipal sectors, by providing solutions that align with the goal of strong and sustainable infrastructure. Hence, the infrastructure evolution required to accommodate the growing urban population plays an important role in boosting the demand for thermoplastic pipes for construction projects.

Material Technology Advancements Will Provide Market Growth Opportunities

Thermoplastic pipe market is rapidly expanding owing to the advancements in material technology, with a primary focus on refining thermoplastic formulations to enhance their performance, chemical resistance, and ability to withstand temperature changes. These innovative developments are made to satisfy specific industry needs, which extends the application of thermoplastic pipes across multiple industries. Additionally, these improved materials provide increased durability, minimal maintenance requirements, and high operational efficiency, that effectively meets the evolving needs of industries such as oil and gas, water treatment, and chemical processing. Furthermore, the development of robust compounds and high-performance materials expand the potential applications of thermoplastic pipes and encourage their use in difficult and demanding environments.

Restraints

Predominance of Traditionally Used Materials May Stall Market Expansion

The dominance and widespread use of traditional materials such as concrete, steel, and clay pipes presents a significant challenge in the thermoplastic pipe industry. These traditional materials have a long history and are trusted in a variety of industries including construction and infrastructure projects. Therefore, despite the benefits of thermoplastic pipes, such as corrosion resistance, ease of installation, and low cost, their adoption is hampered by the deep-rooted position of traditional materials. Additionally, the proven dependability of traditional materials creates a challenge for the adoption of thermoplastic pipes into existing construction activities. Furthermore, due to their enduring performance, industry frequently favor traditionally used materials. Hence, this preference for tried-and-tested materials may impact the wider acceptance of thermoplastic pipes, despite the fact that they offer innovative solutions for a variety of applications.

Recent Developments

• TechnipFMC acquired Magma Global's outstanding shares in October 2021; the company will use Magma Global's technology to manufacture Thermoplastic Composite Pipes (TCPs) using PEEK polymer.
• In May 2021, Magma Global completed the installation of its quickly deployable OFR (Offset Flexible Riser) system at HWCG's storage facility on the U.S. Gulf Coast by delivering one of the first high-pressure composite riser pipes in history.
• Baker Hughes unveiled the next generation of Onshore Composite Flexible Pipes in January 2021. The launch of this new pipe portfolio aids in addressing problems like corrosion and obstacles like the cost of ownership of traditional steel pipes.
• Wienerberger acquired 100% of FloPlast and Cork Plastics in July 2021. Both companies' product portfolios are focused on rainwater, roofline, and drainage products. As a result, the acquisition is expected to assist Wienerberger in becoming a full-service provider of managed greywater and stormwater solutions in the residential sector.
• Georg Fischer's GF Piping Systems division acquired FGS Brasil Indstria e Comércio (FGS), Cajamar (Brazil), a manufacturer of polyethylene piping systems, in December 2020. GF Piping Systems was able to expand its presence in Brazil and South America as a result of the acquisition.

Thermoplastic Pipe Market

Key Players:

• Advanced Drainage Systems
• Sekisui Chemical Co., Ltd.
• JM Eagle
• China Lesso Group Holdings Ltd.
• Uponor Corporation
• Pipelife International GmbH
• National Pipe and Plastics
• Astral Poly Technik Limited
• Polypipe Group plc
• Georg Fischer Ltd.
• Finolex Industries Limited
• IPEX Group of Companies
• Wavin N.V.
• North American Pipe
• Mexichem SAB de CV
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Thermoplastic Pipe Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific region dominates the thermoplastic pipe market, owing to rapid urbanization and infrastructure development. This expansion is fueled by the growing demand for cost-effective transportation solutions by the energy sector. These pipes are known for their ease of installation and are critical to expand potable water and sewage infrastructure in the Asia Pacific region. Additionally, growing economies the region is witnessing an increase in demand for thermoplastic pipes such as glass fiber reinforced thermosetting pipes (GRPs) and reinforced plastic pipes (RTPs). This increase can be attributed to their adaptability and durability as they are widely used in the oil and gas industries due to their exceptional impact resistance, lightweight design, and quick installation methods.

Source: Fatpos Global

Impact of Covid-19 on Thermoplastic Pipe Market

COVID-19 pandemic had a profound impact on the Thermoplastic Pipe Market. The pandemic presented the market with a mix of challenges and opportunities. Initially, supply chain disruptions and transportation constraints caused delays in manufacturing and distribution, affecting construction activities, particularly in real estate and commercial projects. However, the increased emphasis on sanitation and hygiene has resulted in an increase in demand for water and wastewater infrastructure, demanding the need for thermoplastic pipes in these sectors. Hence, to adapt to market changes, the industry adopted digital sales channels, remote work practices, and technological innovations. Therefore, as economies recovered and construction activities resumed, demand for thermoplastic pipes gradually increased, particularly in the water management, gas distribution, and industrial domains.

Thermoplastic Pipe Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Thermoplastic Pipe Market Scope and Segments:

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