Global Reinforced Thermoplastic Pipes Market: Overview
Reinforced thermoplastic pipes are high-pressure pipes made of high-strength synthetic fiber. They contain three layers. The outer layer is generally white or black in color and provides protection against UV rays. The intermediate layer consists of reinforced tape, which is compounded by reinforced material such as polyester and aramid fiber. The third layer is a protective layer. Reinforced thermoplastic pipes are also known as flexible composite pipes. They offer properties such as thermal insulation, heat resistance, anticorrosion, high pressure resistance, and flexibility. These factors are projected to drive the reinforced thermoplastic pipes market during the forecast period.
Global Reinforced Thermoplastic Pipes Market: Drivers
The reinforced thermoplastic pipes market is driven by their increasing application in end-use industries such as transportation, expansion in the offshore oil & gas industry, and rise in adoption of these pipes on a large scale. Several industries use metal pipes that are prone to reaction with fluids and undergo corrosion. These pipes can cause economic losses. Therefore, governments and government agencies are imposing strict regulations on the industrial sector regarding the use of metal pipes. This is boosting the reinforced thermoplastic pipes market. However, the high cost of reinforced thermoplastic pipes and their installation is likely to hinder the market in the coming years.
Reinforced thermoplastic pipes are used in oil & gas flow lines, water or fluid distribution networks, water injection lines, and other applications. In the oil & gas industry, a major loss of oil and gas occurs due to the fracture and corrosion of pipelines. Hence, to avoid these losses, the industry has switched to cost-effective pipes that can sustain high-pressure corrosive environments. Reinforced thermoplastic pipes are also preferred in water injection lines and distribution networks.
Based on inner layer material, the reinforced thermoplastic pipes market can be segmented into polyamide, polyethylene, and others. In terms of reinforced material, the reinforced thermoplastic pipes market can be classified into aramid, steel, and others. The inner layer provides thermal resistance to pipes and prevents corrosion and cracks.
In terms of geography, the global reinforced thermoplastic pipes market can be segmented into Latin America, North America, Eastern Europe, Asia Pacific, and Middle East & Africa. North America dominates the reinforced thermoplastic pipes market, closely followed by Europe and Asia Pacific. Technological innovations and a wide range of applications are driving demand for reinforced thermoplastic pipes. The dominance of North America region is attributable to the rising number of end-user industries such as oil & gas and transportation. However, the reinforced thermoplastic pipes market in Latin America is anticipated to expand at a sluggish pace as it experiences saturation. The demand for reinforced thermoplastic pipes in Middle East & Africa is high due to the presence of a robust oil & gas industry. The demand is expected to rise over the forecast period.
Global Reinforced Thermoplastic Pipes Market: Key Players
Some of the key players operating in the global reinforced thermoplastic pipes are Wienerberger AG, Bekaert, TechnipFMC plc., Amiantit Group, Cosmoplast Industrial Company (LLC), Magma Global Limited, Pestec, Wellstream Flexibles (General Electric), Aerosun Corporation, Airborne Oil & Gas BV, CGH Belgium, National Oilwell Varco (NKT Flexibles), Shawcor (Flexpipe Systems), Airborne Oil & Gas, Polyflow, LLC, Changchun GaoXiang Special pipe, and Harwal Group of Companies.
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