Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the Reinforced Thermoplastic Pipes Market during the historical period. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2030. The insights and analytics on the Reinforced Thermoplastic Pipes Market span several pages. These are covered in numerous sections, including, drivers and restraints, challenges and opportunities, regional segmentation and opportunity assessment, end-use/application prospects analysis, and competitive landscape assessment.
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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 market set to decline by ~4%.
- Escalating demand from on shore and off shore 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 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
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- Glass fiber reinforced material is forecast to witness 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.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa, Rest of MEA)
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- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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The post United States to Account for 30% of Global Reinforced Thermoplastic Pipes Market Demand Through 2031 appeared first on The Tribune City.
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