Glass Fiber-Reinforced Thermoplastic Pipes Are Likely to Expand at Nearly 5.4% CAGR by 2032

Posted on 2022-10-18 by Fact.MR in Chemicals // 0 Comments

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. 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.

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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.

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.

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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.

Segmentation of the RTP Market

By Classification

HDPE (High-density polyethylene)
PA (Polyamide)
PVDF (Polyvinylidene fluoride)
Other

By Reinforced Material

Aramid
Glass Fiber
Steel

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

By Region

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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Why there is a consistent demand for RTP Pipes in the US?

Why Glass Fiber-based RTP is Gaining Traction?

Manufacturers Approach and Prospectus

Segmentation of the RTP Market

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