Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.8 Billion | USD 4.2 Billion | 5.5% | 2022 |
FrequentlyAsked Questions
Thermoplastic pipes have properties that are unique such as flexibility, low installation cost, greater flow, excellent chemical resistance, high mechanical strength, and rust-resistant features. Owing to these beneficial properties provided by the thermoplastic pipes they are preferred over the metal pipes and hence they are used widely in gas and oil offshore drilling. The other application areas where the thermoplastics are used include the chemical sector, municipal and mining & dredging sectors.
The rise of the utilization of thermoplastic pipes across the sectors such as chemical, municipal, oil & gas, mining & dredging along with its applications in ultra-deep water and deep water is the major factor that is driving the growth of the market. The engineering processes and the large-diameter pipe applications widely use thermoplastic pipes hence boosting the market growth.
According to the report, the global thermoplastic pipe market size was worth around USD 2.8 billion in 2022 and is predicted to grow to around USD 4.2 billion by 2030.
The global thermoplastic pipe market is expected to grow at a CAGR of 5.5% during the forecast period.
The global thermoplastic pipe market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to the growing industrialization and the increasing energy demand owing to the growing population base in the region.
The global thermoplastic pipe market is dominated by players like GFD, SoluForce B.V., Saudi Arabian Amiantit Co., Alwasail Industrial Company, Solvay, PETRON THERMOPLAST, Harwal Group of Companies, Baker Hughes Company, PESTEC, Strohm, SuKo Polymer Machine Tech Co., Ltd., TOPOLO, GULF PLASTIC INDUSTRIES, KPT Piping System, Saumya Technocrates Pvt. Ltd., IPEX, Simtech, Truflo and ATP polymer among others.
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