North America Reinforced Thermoplastic Pipes Market

North America Reinforced Thermoplastic Pipes Market Outlook (2022-2032)

The North American reinforced thermoplastic pipes market is estimated to increase at a CAGR of 3%, expected to reach a market value of US$ 4 Billion by the end of the said period of assessment, 2022 to 2032, 

As of 2021, the market was valued at US$ 2.87 Billion. From 2021 to 2022, the industry is slated to document a Y-o-Y increase of 2.4%, reaching US$ 2.94 Billion.

Report Attributes	Details
North America Reinforced Thermoplastic Pipes Market Size (2021A)	US$ 2.87 Billion
Estimated Market Value (2022E)	US$ 2.94 Billion
Forecasted Market Value (2032F)	US$ 4 Billion
United States Growth Rate (2022-2032)	3% CAGR
Key Companies Profiled	Baker and Hughes Cosmoplast H.A.T-Flex National Oilwell Varco OPR Offshore Pipelines & Risers Inc. PES.TEC Saudi Arabian Amiantit Co. Saudi Aramco Shawcor Wienerberger AG

The high per unit cost based on weight or force bearing capability compared to typical steel bars or pre-stressing tendons significantly limits the usage of reinforced thermoplastics. The most important structural engineering issue with RTP is its poor shear strength in the transverse direction. Such qualities may result in tendon rupture.

Furthermore, reinforced thermoplastic pipes sales have increased due to increased demand in the chemical and water industries for flexible, lightweight, and corrosion-resistant pipes. Despite a decline in crude oil consumption in 2020 because to the pandemic crisis, which hindered investments in reinforced thermoplastic pipes production, demand is likely to soar throughout the forecast time.

North American Reinforced Thermoplastic Pipes Historical Market Outlook (2017-2021) vs. Growth Forecast (2022-2032)

The global market for reinforced thermoplastic pipes (RTP) was assessed at US$ 2.87 Billion in 2021, with a 2% growth rate from 2017 to 2021. Increased oil output and a developing chemical sector are expected to improve sales across North America in the coming years.

According to Fact.MR's analysis, the market is expected to reach US$ 4 Billion with a compound annual growth rate of 3% from 2022 to 2032. Because of the many qualities they possess, reinforced thermoplastic pipes are gaining popularity across a wide range of end-use sectors.

Some of the main features to highlight include heat resistance, flexibility, thermal insulation, high-pressure resistance, lightweight, and anticorrosion. All of these characteristics indicate that the North America reinforced thermoplastic pipes market will rise rapidly.

The usage of reinforced thermoplastic pipes is increasing among oil and gas firms. By employing this method, they are preventing the loss of oil and gas that is commonly caused by pipeline corrosion or cracking. Aside from that, the industry is boosting its usage of reinforced thermoplastic pipes due to their low cost.

As a result, the North America reinforced thermoplastic pipes market is gaining prominence in the oil and gas industry. North America is likely to maintain its worldwide market dominance, with a market share of more than 30%.

Demand for Reinforced Thermoplastic Pipes Influenced by the Oil and Gas Industry

Oil and gas companies were among the first to experiment with reinforced thermoplastic pipes applications in large-scale production processes. Extensive investments in oil and gas projects have been made throughout areas during the last half-decade. Irreplaceable and widely utilized refined products have increased demand for oil and gas across areas, impacting demand for reinforced thermoplastic pipes.

According to the IEA, projected investments in upstream oil and gas have been reduced as a result of the drop in oil prices and demand. However, long-term market circumstances look to be mostly positive.

The capacity of oil pipelines to survive harsh circumstances improves their longevity, and the ability to regulate operating costs, lead time, and compliance, simplicity of installation, maintenance expenses, and total costs of ownership has made it a popular choice in the oil and gas business throughout the years.

Rise in Popularity of Electric Cars to be a Key Market Trend

Reinforced thermoplastics technology brings up new possibilities for the developing electric car sector. Glass fiber composite material has met the consistent need for lightweight material with higher tensile strength.

In addition, the composite material has been widely employed as load-bearing structures in engineering sectors such as aviation, marines, automobile, and building construction, creating enormous traction for reinforced thermoplastics across the world.

Reinforced thermoplastic pipes have been recognized as a standard alternative option to steel for oilfield flow line applications in order to minimize pipeline corrosion costs in industries during the last few years. This has increased the global market traction for RTP.

RTPs have several applications in the oil and gas sector, including gas distribution networks and water channels, where they can minimize operational costs. Furthermore, RTPs provide ultra-low permeability and increased material strength. They are extremely resistant to corrosion, which increases their longevity.

Country-wise Insights

Why is the market for Reinforced Thermoplastic Pipes thriving in the United States?

Reinforced thermoplastic pipes account for 30% of the market in the United States. Key growth drivers are increased pipeline replacement, developing oil and gas sector, and an emphasis on boosting output by increasing well depths and exploring for new reserves.

Furthermore, there are several chances in the water & wastewater and mining industries. In the future years, the market is estimated to develop at a CAGR of roughly 3% between 2022 and 2032. North America dominated the RTP market in 2019 with a valuation of US$ 81 Mn, owing to the shale gas effect and massive continuing expansions in the United States.

Category-wise Insights

Why are Glass Fiber-Reinforced Thermoplastic Pipes Gaining Popularity?

According to Fact.MR, glass fibres are expected to increase at a constant rate among other reinforcing materials, with a CAGR of around 5%. The high tensile and flexural strength of this material is boosting its demand in extremely corrosive applications such as sour fluids and gases.

Glass fiber reinforced thermoplastic pipes are widely employed in the marine, aerospace, automotive and construction sectors due to their improved mechanical qualities.

Which Segment Dominates the Reinforced Thermoplastic Pipe Market Based on Classification?

The market is divided into HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes, PA (Polyamide) Reinforced Thermoplastic Pipes, PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes and Other Reinforced Thermoplastic Pipes.

According to a Reinforced thermoplastic pipes market analysis, the HDPE (High-density polyethylene) sector is predicted to outperform all others. The key reason for this segment's rapid growth is its cross-linked structure, which makes it robust and temperature resistant. Other factors contributing to high-density polyethylene's high demand are its flexibility, light weight, and ease of weldability.

Which End-Use Industry Dominates the Reinforced Thermoplastic Pipes Market?

The Reinforced thermoplastic pipes market is divided into four sections based on end-use industry for Oil & Gas, On Shore Operations, Off Shore Operations, Chemical Industry, Water Industry and Other End Uses. According to current developments in Reinforced thermoplastic pipes, the oil & gas market is the best performing segment in this category.

Reinforced thermoplastic pipes are used by oil & gas refineries to transport oil and gas to end consumers through various distribution methods. These include water injection pipelines, effluent water disposal, temporary surface lines, and water transport and distribution, all of which increase reinforced thermoplastic pipes utilization.

Competitive Landscape: Top Companies in Reinforced Thermoplastic Pipes Market

The North American reinforced thermoplastic pipes market is huge, and the product's applications in several sectors are expanding. As a result, producers find the market to be a goldmine. Each important participant has a different USP and strategy for launching a product into the market. To grow their operations, prominent manufacturers rely on strategies such as new product releases and mergers and acquisitions.

Fact.MR has provided detailed information about the price points of key manufacturers in the Reinforced Thermoplastic Pipes market positioned across countries, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance :

• Baker Hughes announced the debut of their next-generation onshore composite flexible pipe in January 2021 to solve the corrosion and cost of ownership concerns associated with traditional steel pipe in the energy, oil and gas, and industrial sectors. This product is flexible and lightweight, making it a more cost-effective and ecologically friendly alternative to resource-intensive onshore steel pipes.

Key Segments Covered in the North American Reinforced Thermoplastic Pipes Market

• North American Reinforced Thermoplastic Pipes Market by Classification :

  • HDPE (High-density polyethylene) Reinforced Thermoplastic Pipes
  • PA (Polyamide) Reinforced Thermoplastic Pipes
  • PVDF (Polyvinylidene fluoride) Reinforced Thermoplastic Pipes
  • Other Reinforced Thermoplastic Pipes

• North American Reinforced Thermoplastic Pipes Market by Reinforced Material :

  • Aramid Reinforced Thermoplastic Pipes
  • Glass Fiber Reinforced Thermoplastic Pipes
  • Steel Reinforced Thermoplastic Pipes

• North American Reinforced Thermoplastic Pipes Market by Pipe Size :

  • Measuring Up to 4 Inches
  • Measuring 6 Inches
  • Measuring Above 6 Inches

• North American Reinforced Thermoplastic Pipes Market by End-Use :

  • Reinforced Thermoplastic Pipes for Oil & Gas
  • Reinforced Thermoplastic Pipes for On Shore Operations
  • Reinforced Thermoplastic Pipes for Off Shore Operations
  • Reinforced Thermoplastic Pipes for Chemical Industry
  • Reinforced Thermoplastic Pipes for Water Industry
  • Reinforced Thermoplastic Pipes for Other End Uses

• North American Reinforced Thermoplastic Pipes Market by Country :

  • United States
  • Canada
  • Mexico