Global thermoplastic pipe market to grow at a CAGR of 5.5% from 2014 to 2019

21-May-15

The global thermoplastic pipe market by volume of thermoplastic pipe is projected to grow at a CAGR of 5.5% from 2014 to 2019, as per MarketsandMarkets. The market was estimated to be 25,821.9 kiloton in 2014, and is projected to reach 33,742.3 kiloton by 2019, at a CAGR of 5.5% from 2014 to 2019. In terms of value, it is expected to grow from an estimated US$55,430.2 mln in 2014 to US$74,996.6 mln by 2019, with increasing demand in the Asia-Pacific region. The rise in the demand for municipal and chemical applications in this region is the prime driver for the growth of the market. The market applications for thermoplastic pipe include oil & gas, municipal, mining & dredging, and chemicals. The demand for the oil & gas application is estimated to grow with an increasing demand for flexible pipes, umbilical, and risers. In 2013, Asia-Pacific was the largest market for thermoplastic pipe and accounted for a share of around 39.7%. Latin America, and the Middle East & Africa are emerging markets with increasing application of thermoplastic pipes in the municipal and chemical industries. The region is expected to witness investment worth US$770 bln from 2011 to 2020 in the chemical industry of the region. Approximately 50% of this investment is expected to come from GCC member nations, with the rest shared by Iraq and Iran. The European market is the most mature, and is expected to register the slowest growth during the forecast period. The leading players of this market include Technip (U.S.), Advanced Drainage Systems Inc. (U.S.), Airborne Oil & Gas B.V. (The Netherlands), and Georg Fischer Piping Systems Ltd. (Switzerland). The market players continuously invest in R&D activities to introduce new products and solutions as per market demands. Considering the demand in the market, these companies are also expanding their facilities to increase their production capacities and strengthen their global network.