The North American Reinforced Thermoplastic Pipes Market Is Slated to Document a Y-O-Y Increase of 2.4%, Reaching US$ 2.94 Billion by 2032 End

The North American reinforced thermoplastic pipes market is estimated to increase at a CAGR of 3%, expected to reach a market value of US$ 4 Billion by the end of the said period of assessment, 2022 to 2032,

As of 2021, the market was valued at US$ 2.87 Billion. From 2021 to 2022, the industry is slated to document a Y-o-Y increase of 2.4%, reaching US$ 2.94 Billion. The high per unit cost based on weight or force bearing capability compared to typical steel bars or pre-stressing tendons significantly limits the usage of reinforced thermoplastics. The most important structural engineering issue with RTP is its poor shear strength in the transverse direction. Such qualities may result in tendon rupture. Furthermore, reinforced thermoplastic pipes sales have increased due to increased demand in the chemical and water industries for flexible, lightweight, and corrosion-resistant pipes. Despite a decline in crude oil consumption in 2020 because to the pandemic crisis, which hindered investments in reinforced thermoplastic pipes production, demand is likely to soar throughout the forecast time.

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Why is the market for Reinforced Thermoplastic Pipes thriving in the United States?

Reinforced thermoplastic pipes account for 30% of the market in the United States. Key growth drivers are increased pipeline replacement, developing oil and gas sector, and an emphasis on boosting output by increasing well depths and exploring for new reserves.

Furthermore, there are several chances in the water & wastewater and mining industries. In the future years, the market is estimated to develop at a CAGR of roughly 3% between 2022 and 2032. North America dominated the RTP market in 2019 with a valuation of US$ 81 Mn, owing to the shale gas effect and massive continuing expansions in the United States.

Competitive Landscape: Top Companies in Reinforced Thermoplastic Pipes Market

The North American reinforced thermoplastic pipes market is huge, and the product’s applications in several sectors are expanding. As a result, producers find the market to be a goldmine. Each important participant has a different USP and strategy for launching a product into the market. To grow their operations, prominent manufacturers rely on strategies such as new product releases and mergers and acquisitions.

Fact.MR has provided detailed information about the price points of key manufacturers in the Reinforced Thermoplastic Pipes market positioned across countries, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance :

• Baker Hughes announced the debut of their next-generation onshore composite flexible pipe in January 2021 to solve the corrosion and cost of ownership concerns associated with traditional steel pipe in the energy, oil and gas, and industrial sectors.

This product is flexible and lightweight, making it a more cost-effective and ecologically friendly alternative to resource-intensive onshore steel pipes.

Key Segments Covered in the North American Reinforced Thermoplastic Pipes Market

North American Reinforced Thermoplastic Pipes Market by Classification :

• HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes
• PA (Polyamide) Reinforced Thermoplastic Pipes
• PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes
• Other Reinforced Thermoplastic Pipes

North American Reinforced Thermoplastic Pipes Market by Reinforced Material :

• Aramid Reinforced Thermoplastic Pipes
• Glass Fiber Reinforced Thermoplastic Pipes
• Steel Reinforced Thermoplastic Pipes

North American Reinforced Thermoplastic Pipes Market by Pipe Size :

• Measuring Up to 4 Inches
• Measuring 6 Inches
• Measuring Above 6 Inches

North American Reinforced Thermoplastic Pipes Market by End-Use :

• Reinforced Thermoplastic Pipes for Oil & Gas
• Reinforced Thermoplastic Pipes for On Shore Operations
• Reinforced Thermoplastic Pipes for Off Shore Operations
• Reinforced Thermoplastic Pipes for Chemical Industry
• Reinforced Thermoplastic Pipes for Water Industry
• Reinforced Thermoplastic Pipes for Other End Uses

North American Reinforced Thermoplastic Pipes Market by Country :

• United States
• Canada
• Mexico

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of reinforced thermoplastic pipes across North America.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of reinforced thermoplastic pipes in North America during the forecast period. Price point comparison by region with global average price is also considered in the study.

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