Growing North American oil demand fuels thermoplastics adoption for safer, problem-solving oil and fuel transport vs. steel pipes

NEWARK, DELAWARE, UNITED STATES, September 11, 2023/EINPresswire.com/ -- The thermoplastic pipe market foresees a moderate CAGR of 4.2% from 2023 to 2033. This market is expected to increase from US$ 2.54 Billion in 2023 to an estimated US$ 3.83 Billion by 2033. Oil and gas offshore drilling techniques are a key contributor to the thermoplastic pipe industry.

Growing Use of Renewable Energy in the Oil and Gas Sector

The need for thermoplastic pipes may rise as the development of alternative energy sources receives huge attention. Customers are interested in the product because of its increased adaptability/flexibility, lightweight, and anti-corrosive features. Businesses benefit from cost-cutting measures that also boost output. Oil and gas companies employ many pipes, which consequently spur growth.

Many manufacturers are anticipated to find it appealing due to its extended lifespan and low maintenance requirements. The pipe's ability to withstand high temperatures and pressures is predicted to increase demand for it. During the forecast period, these factors can propel the thermoplastic pipe market.

The Need for Thermoplastic Gas Distribution Pipes is Expanding

Gas engineers have had remarkable success with thermoplastic pipeline systems for gas delivery. They outlast steel and iron systems. These materials have taken over as the go-to choice for low-pressure gas systems, overcoming the corrosion and reliability issues with metal systems.

Plastic material research alone is unlikely to result in a significant increase in pressure rating. Future development is to concentrate on multilayer and composite pipe constructions to fulfill specific application needs and to increase pressure ratings. It allows users in medium- and even high-pressure gas distribution pipes.

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Safety Concerns and the Type of Piping Material May Inhibit Market Expansion

An emerging anti-corrosion tactic is the thermoplastic pipes adoption as an internal lining in the oil and gas sector. On the other hand, creep, fatigue, permeation, processing flaws, and improper installation all have a tendency to cause gradual damage to thermostatic pipes.

The capacity of its mechanical properties to resist fracture as the duration of loading increases is reduced. It restrains the growth of the thermoplastic pipe market.

Plastics are also effective insulators, which help the thermostatic pipe develop a static charge as a result of friction. The handling of the line during storage, transport, and installation may contribute to friction. The pneumatic transfer of dry materials or the likelihood of combustible gas leaks from explosive atmospheres can all pose a risk to safety.

To lessen the risk of a static electric discharge, techniques such as maintaining a conductive path to the earth's ground by spreading a coating of electrically conductive liquid are used.

Asia Pacific Viewpoint

In 2023, Asia Pacific held the lion's share of the thermoplastic pipe market. Growing urbanization and infrastructure development have caused the utility sector to embrace cost-effective transportation solutions, propelling market demand. This has increased the incentive for manufacturers of thermoplastic pipes to convert to this pipe.

Asia-wide nations are making attempts to access sewage and drinking water infrastructure, opening up significant plastic pipe business opportunities. Plastic pipe has advantages over other pipe materials due to its low cost and ease of installation. Continuous PVC demand in India and escalating safety concerns in China may spur the reinforced thermoplastic pipe sector forward.

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Key Takeaways:

The United States thermoplastic pipe industry is estimated to acquire a market share of 17% by 2033.

From 2023 to 2033, Germany’s thermoplastic pipe market share is anticipated to account for 1%.

Japan's thermoplastic pipe industry to grab a market share of 5% between 2023 and 2033.

Australia thermoplastic pipe market to hold a share of 6% by 2033.

China's thermoplastic pipe industry is to expand at a CAGR of 4.9% from 2023 to 2033.

India’s thermoplastic pipe industry is going to secure a CAGR of 5.4% during the forecast period.

The thermoplastic pipe industry in the United Kingdom is to progress at a CAGR of 3.2% between 2023 and 2033.

The PVC segment in the polymer-type segment of the thermoplastic pipe industry is likely to hold a market share of 6% from 2023 to 2033.

Oil and gas segment in the end-use industry category of the thermoplastic pipe industry to acquire a market share of 6% between 2023 and 2033.
Industry Overview for Thermoplastic Pipe:

The thermoplastic pipe market’s competitive landscape is shaped by a mix of small and large competitors providing scaled goods for different applications. Thermoplastic pipe manufacturers are focusing on emerging markets, which may have high demand.

To grow market share, thermoplastic pipe manufacturers are implementing methods such as product innovation, expansion, and improving quality. Companies are continuing to do research & development to introduce new goods and boost plant efficiency globally.

Significant Advancements in the Business:

Wienerberger has established long-term goals for its piping system to complement the European Plastics Strategy and the European Green Deal. The company focuses on creating recycled or reusable plastic goods. Recycling allows the material's service life to be prolonged to 300 years or more.
Magma Global completed the quick deployable OFR (Offset Flexible Riser) system by delivering one of the first high-pressure composite riser pipes in the world to HWCG at its storage facility on the U.S. Gulf Coast in May 2021.

Key Companies Profiled

Wiener Berger AG
Strohm
Baker Hughes
Saudi Arabian Amiantit
Advanced Drainage Systems
TechnipFMC plc
Geog Fischer
Prysmian S.p.A
Chevron Phillips Chemical
IPEX

Key Segments

By Product Type:

Reinforced Thermoplastic Pipes (RTP)
Thermoplastic Composite Pipes (TCP)

By End-use Industry:

Oil & Gas
Water & Wastewater
Mining & Dredging
Utilities & Renewable

By Application:

Onshore
Offshore
By Polymer Type:

Polyethylene (PE)
Polypropylene (PP)
Polyvinylidene Fluoride (PVDF)
Polyvinyl Chloride (PVC)

By Region:

North America
Europe
South America
Asia Pacific
Middle East & Africa

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Ronak Shah
Future Market Insights, Inc.
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