Increasing oil and gas offshore drilling practices are expected to drive global Thermoplastic Market over the forecast period. Owing to various properties including flexibility, outstanding chemical resistance, low installation and maintenance cost, high strength, greater flow characteristics, high mechanical damage resistance and ability to operate at higher temperature made thermoplastic pipe suitable for oil and gas market and other application areas including chemical sector, mining & dredging sector and municipal. In addition, these pipes does not causes rusting and are easier to install in comparison to metal piping making it a best option for drilling purposes. Development in end use sector including oil & gas, chemical, mining & dredging and municipal is expected to uplift the global thermoplastic pipe market growth in coming years. Thermoplastic pipe finds its major application in oil and gas sector and is expected to show high growth in the application area on account of its propelling demand in deep water and ultra-deepwater application coupled with growing oil and gas activities. Rising engineering thermoplastic materials acceptance and developing large diameter pipe applications are some factor expected to augment global thermoplastic pipe market over the forecast period. Increasing number of horizontal wells during oil and gas activities coupled with high energy demand is expected to establish as major opportunity for the thermoplastic pipe market growth. High cost involved during production majorly in oil and gas sector coupled with major safety issues are expected to emerge as key hindrances in thermoplastic pipe market growth over the forecast period.
Global thermoplastic pipe market is segmented on the basis of polymer type and application. Polymer type segment is sub segmented into polyvinylidene fluoride (PVDF), polyamides (PA), polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC). Application segment includes chemical, oil & gas, mining & dredging and municipal. Oil and gas and municipal application segments are further categorized as flexible pipes umbilical application, water and waste water application and coiled tubing application. Thermoplastic pipe application in oil and gas industry is expected to grow significantly over the forecast period in comparison with other application. Second major emerging thermoplastic pipe application is expected to be municipal owing to huge demand in Asia Pacific region in coming year which will further enlarge global thermoplastic pipe market.
Global thermoplastic pipe market is dominated by Asia Pacific region followed by North America and Europe respectively. Growing developing countries including China, India and Brazil are expected to propel the global thermoplastic pipe market in coming years. Middle East& Africa and Central & South America are expected to show a healthy growth over the forecast period on account increasing oil and gas exploration activities in the regions. Asia Pacific region is expected to witness the largest and fastest growing thermoplastic pipe market owing to developing economies, rising oil and gas activities, and boosting chemical industries over the forecast period. Regions including Middle East and Asia Pacific with upcoming oil and gas projects are predicted to grow the global thermoplastic pipe market. Thermoplastic municipal pipes demand in Asia Pacific region is expected to drive the thermoplastic pipe market at a significant rate in coming years. Latin America coupled with Middle East & Africa are the emerging thermoplastic pipe market. Companies are expected to predict their growth in these regions over the forecast period.
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