Offshore Reinforced Thermoplastic Pipes Market Is Expected To Grow US$ 2.7 Bn By 2031

CITY, Country, 2022-Dec-01 — /EPR Network/ —

The reinforced thermoplastic pipes market is steadily gaining traction and is set to become a 21st-century pipeline solution. The market is poised to expand at a CAGR of ~5% during the forecast period (2020-2030). Reinforced thermoplastic pipes’ high immunity to corrosion and ability to withstand high pressure up to 450 bar is providing impetus to their demand across various end-use applications. In terms of durability and corrosion resistivity, RTP outperforms conventional pipes creating lucrative opportunities in the market. With reinforced thermoplastic pipes set to cost 40% lesser than conventional plastic variants, its demand is set to escalate at an increasing pace. However, the COVID-19 outbreak is set to hamper the market growth in 2020 with the market set to decline by ~4%.

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Key Takeaways of the Reinforced Thermoplastic Pipe Market Study:

• Escalating demand from onshore and offshore applications is projected to propel the RTP market
• Efficacy to offer rapid and low-cost installations coupled with fire-resistant properties is set to increase consumption of RTP in oil & gas applications
• Based on the classification, HDPE (high density polyethylene), has led the market in terms of value in 2019 and is projected to maintain its supremacy over other materials, creating an absolute $ opportunity worth US$ 118 Mn by 2030
• Glass fiber reinforced material is forecast to witness a positive growth rate of ~5% and is set to account for nearly half of the revenue share by 2030
• Based on pipe size, up to 4 inches segment is set to retain its dominance among other sizes gaining 155 BPS in its market share till 2030
• Attributed to ongoing investments of oil and gas projects in MEA, the region is projected to surpass the North American RTP market by the mid-term forecast.

“Burgeoning demand from oil & gas pipeline projects and water injection applications is set to amplify the market’s growth during the forecast period”, says the Fact.MR analyst.

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Segmentation

• Classification
  • HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes
  • PA (Polyamide) Reinforced Thermoplastic Pipes
  • PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes
  • Other Reinforced Thermoplastic Pipes
• Reinforced Material
  • Aramid Reinforced Thermoplastic Pipes
  • Glass Fiber Reinforced Thermoplastic Pipes
  • Steel Reinforced Thermoplastic Pipes
• Pipe Size
  • Reinforced Thermoplastic Pipes Measuring Up to 4 Inches
  • Reinforced Thermoplastic Pipes Measuring 6 Inches
  • Reinforced Thermoplastic Pipes Measuring Above 6 Inches
• 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

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Crucial insights in the Reinforced Thermoplastic Pipes Market research:

• Underlying macro- and microeconomic factors impacting the growth of the Reinforced Thermoplastic Pipes Market Basic overview of the Reinforced Thermoplastic Pipes Market including market definition, classification, and applications.
• Scrutinization of each Reinforced Thermoplastic Pipes Market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend of Reinforced Thermoplastic Pipes Market across various industries.
• Important regions and countries offering lucrative opportunities to Metal Packaging Coatings Market stakeholders

For More Insights- https://www.einpresswire.com/article/557144827/concrete-road-construction-machinery-is-poised-to-expand-at-a-cagr-of-over-4-by-2030

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