Reinforced Thermoplastic Pipes Market Overview:
The reinforced thermoplastic pipes market is anticipated to grow at higher rate over the forecast period. Reinforced thermoplastic pipes are generally composite of high strength steel wire reinforced pipe system. The replacements of steel and heavy materials in the industries are opting to these materials and also they are highly reliable. The traditional pipes are developed with the synthetic fibre which replaced all the steel pipes in the industries, and with the good response from the end users, the modern technologies have evolved in manufacturing of reinforce thermoplastic pipes with the polyethylene, polyamide-11 and some other polyester fiber that have high strength with combinations used. These are easily installed comparative with the steel pipes and also used in variety of applications in oil & gas industry. These pipes are also introduced with higher benefits which has long life time and are resistant to harsh climatic conditions.
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Reinforced Thermoplastic Pipes Market Size and Growth:
According to the research report, the global Reinforced Thermoplastic Pipes (RTP) market Size is valued at 7494 million USD in 2017 and is expected to reach 13413 million USD by the end of 2025, growing at a CAGR of 7.55% between 2017 and 2025.
Reinforced Thermoplastic Pipes Market Growth Driving Factors:
The oil & gas industry have a quiet usage of the reinforced thermoplastic pipelines to avoid loss and leakages which is a major driving factor for the market to grow enormously. The increased government support in investing on the end user industry is boosting up the growth of the market.
However, the cost of these pipes is relatively very high and is restraining the growth of the reinforced thermoplastic pipes market slightly. The stringent rule and regulations by the government towards environmental safety is a new challenge for the manufacturers to lower the market demand.
The innovative techniques in manufacturing the pipes which involves in easy process and increasing demand from the chemical industry are setting growth opportunities for the market. Another factor surging the chance for the demand of the market lies in the improvements in the features and introducing quality products for the end users.
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Reinforced Thermoplastic Pipes Market Regional Analysis:
Regionally, North America is dominating the revenue shares of the market owing to increased scale of oil & gas industry and also to reduce the economic loss. Asia Pacific is anticipated to have leading shares of the market with the increase in the government support to raise the capital income. Europe and Middle East & Africa are also fueling to the growth of the market steadily.
Some of the Prominent Players in Reinforced Thermoplastic Pipes Market are: Wienerberger AG, Bekaert, Harwal Group of Companies, TechnipFMC plc. Changchun gaoxiang Special Pipes Co., Ltd, Aerosun Corporation, Amiantit Group, Cosmoplast Industrial Company (LLC), Magma Global Limited, Pestec, Wellstream Flexibles (General Electric), Airborne Oil & Gas BV and CGH Belgium, among others.
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