Thermoplastic Pipe Market To Generate Revenue Worth $4,536 Million by 2030

The global thermoplastic pipe market is expected to generate USD 4,536 million revenue by 2030, advancing at a CAGR of 4.80% during 2022–2030. This can be attributed to the rising usage of thermoplastic composites, the surging oil and gas drilling activities, the increasing incidents of gas leakage, and government strict regulations for safely transporting oil and natural gases. Moreover, a rise in industrialization along with urbanization, and an increase in per capita income will further contribute to the growth of the industry.

Oil & Gas Industry Fuels the Market

Based on end-use industry, the market is categorized into oil & gas, mining & dredging, water & wastewater, utility & renewable, and others. Of these, the oil & gas category held the largest revenue share, of around 43%, in 2022, and it is further expected to maintain its dominance during the forecast period. This is attributed to the high usage of thermoplastic pipes for transporting fuels such as natural and petroleum gases; the surging demand for advanced solutions, such as equipment, tools, and technology, to explore and increase the production of natural gas; and the rising need for fuel due to the growing population across the globe.

Moreover, the water & wastewater category will contribute significantly to the market in the coming years. This can be because such pipes are widely used in water & wastewater applications; the surging need to treat wastewater for industrial purposes; and the developing infrastructure for sewer and drainage.

Based on polymer type, the market is classified into polyethylene (PE), polyvinylidene fluoride (PVDF), polypropylene (PP), polyvinyl chloride (PVC), and others. Among these, the PE category contributed the highest revenue in 2022, and it is also expected to maintain its position during the coming years. This is because PE pipes are widely used for natural gas distribution as an alternative to steel pipes.

The thermoplastic composite pipe (TCP) category, based on product type, contributes significant revenue to the market. This is due to its widespread usage across industries such as oil & gas and mining; and a great replacement for steel pipes in terms of corrosion, fatigue, and weight.

Geographically, the APAC market will register the fastest growth during the predicted period. This can be ascribed to the high spending by governments in the oil & gas sector; the increasing exploration activities for oil and natural gases; the improving infrastructure of emerging countries; and the mounting demand for cutting-edge technologies and tools for higher production activities in onshore and offshore areas in the region.

In addition, North America held a significant revenue share in 2022, and it is further expected to maintain its position during the forecast period. This is attributed to the increasing petroleum production, the rising need for safe transportation of fuel, the surging incidents of gas leakage, the growing per capita income, and the increasing applications of such pipes for mining & dredging purposes.

Moreover, Europe contributes significant revenue to the global market. This is due to a greater acceptance of such thermoplastic materials in engineering processes, a high adoption rate of advanced technology, and a rise in industrial activities in the region.

Some of the major players in the market are NOV Inc., Wienerberger AG, TechnipFMC Plc, Georg Fischer Ltd., Advanced Drainage Systems Inc., Chevron Phillips Chemical Company LLC, Prysmian Group, Strohm B.V., and Baker Hughes Company.