Analyzing the Thermoplastic Pipe Market for 2015-2019
Thermoplastic pipes are widely used in the oil and gas industry. They are also used in several mining, and dredging activities. These pipes are used to transport liquids and gases. They are used because they are unaffected by extreme temperatures. They also offer high impact strength. They are compatible with most liquids and gases.
Thermoplastic pipes have been used extensively in oil, gas, and other applications in Asia Pacific among other regions. They are used to form new pipe connections as well as to replace older pipes. Sale of thermoplastic pipes used for new installations or replacements is expected to see a rise between 2015 and 2019.
Analysis of Thermoplastic Pipe Market* for 2015-2019
The trends in thermoplastic pipe purchase seen in 2014 have set the path for the next four years. With the rise in oil extraction activities taking place in Asia Pacific, Europe, the Middle East North America, Africa, and Latin America, a rise in the sale of thermoplastic pipes is expected as well. Latin America is expected to lead the growth with maximum market size, closely followed by North America.
However, emerging countries are seen to grow exponentially in the thermoplastic pipe market. Thermoplastic pipes are used as sewage pipes in Municipal applications as well as for deep extraction of oil and gas. This should contribute to the growth of the market by 576 million tons by 2019. The market is expected to grow at a rate of 7.8% CAGR.
The key companies serving as manufacturers for thermoplastic pipes reside in U.S.A., Netherlands and Switzerland. The opportunities for industry workers in these countries are expected to grow as well. Thermoplastic pipe manufacturers are looking at joint ventures and other partnership strategies to expand into the application market as well.
* Source: MarketsandMarkets Analysis