Latest Study by Fact.MR: How Is Oil And Gas Industry Influencing Demand for Steel Reinforced Thermoplastic Pipes

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Apr. 26, 2022 14:10
SEOUL--(Korea Newswire)--As per the latest intelligence report published by Fact.MR, the global reinforced thermoplastics pipes market is expected to have a positive outlook, expanding at a CAGR of above 5% across the 2021-2031 forecast period.

The market value for reinforced thermoplastics pipes was recorded to be US$ 2.8 Bn which grew at a CAGR of 4% during 2016-2020. Recessionary downswings in the oil & gas industry amid the COVID-19 pandemic stalled growth prospects in 2020, amid cessation of exploration and drilling activities. Fortunately, as restrictions ease, demand is expected to rebound by Q4 2021.

Oil and Gas Industry Influencing Demand for Reinforced Thermoplastic Pipes

Over the past half a decade, extensive investments in oil & gas projects have been undertaken across regions. Irreplaceable and extensively used refined products have spiked demand for oil & gas across regions, cascading the effect to the global demand for reinforced thermoplastic pipes.

According to IEA, planned investments in upstream oil and gas have been slashed under pressure from the collapse in oil prices and demand. However, its long-term market conditions appear largely optimistic.

The potential to withstand extreme conditions increases the lifetime of oil pipelines, and the ability to control the operating costs, lead time, compliance, ease of installation, maintenance costs, and total costs of ownership, has made it a popular choice in the oil and gas industry over the years.

Key Takeaways from Market Study

· HDPE captures a dominant share creating around US$ 321 Mn opportunities over the long-term forecast period.
· Glass fiber reinforced thermoplastic pipes demand to expand at approximately 5% CAGR by 2031
· Oil & gas is the fastest-growing segment in the market, owing to the rapid growth of production across Canada and the United States.
· The Middle East and Africa are set to dominate market revenue in 2021, expected to gain 55 BPS by 2031.
· Water distribution end-use is anticipated to lose around 25 BPS over the forecast period of 2021-2031
· The U.K., Canada, and the United States are key countries dominating demand for reinforced thermoplastic pipes.

“Amplifying demand for robust piping material across the oil & gas industry, as well as water injection applications, are collectively anticipated to fuel expansion prospects for reinforced thermoplastic pipes,” remarks the Fact.MR analyst.


· 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

Competitive Landscape

Prominent manufacturers of RTP are taking bold steps to expand their businesses globally. For instance, technological advancements, mergers and acquisitions, and rising investments in R&D activities.

· Prominent manufacturer Parker Hannifin Corporation has developed elastomers, polyurethane, and metals solutions for oil and gas sealing.

These materials are capable to withhold Extreme high and low temperatures of 525°F to -65°F

· On Sept 28, 2020, EnPro announced an agreement to acquire Alluxa. EnPro Industries, Inc. (NYSE: NPO), a leading technology company using materials science to push the boundaries of the semiconductor, life sciences, and other technology-enabled sectors, announced that it has closed the acquisition of Alluxa, Inc., a privately held, California-based company.

Some Notable Offerings by Fact.MR Report on Reinforced Thermoplastic Pipes market:

· We will provide you an analysis of the extent to which this Reinforced Thermoplastic Pipes market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
· We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
· Also, this report will help you to identify any trends to forecast growth rates.
· The analyzed report will forecast the general tendency for supply and demand.

Read Complete Report Here: For More Insights into the Market, Request a Sample of this Report:
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Mahendra Singh
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