Oil & gas application of thermoplastic pipes estimated to grow with increasing demand

04-Feb-15

The oil & gas application of thermoplastic pipes is estimated to grow with increasing demand for flexible pipes, umbilicals, and risers, as per Research and Markets. The thermoplastic pipe market is projected to grow at a CAGR of 7.8% from 2014 to 2019. The market was dominated by Asia-Pacific that accounted for a share of about 40.7% in 2013 and it is estimated to be the fastest growing market for thermoplastic pipe from 2014 to 2019. In 2014, Asia-Pacific is expected to be the largest market for thermoplastic pipe and it is estimated to grow at the highest CAGR. The key players of thermoplastic pipe prefer agreements, contracts, joint ventures, and partnership strategies to garner a larger share in the market. The leading thermoplastic pipe manufacturers are focusing on the emerging countries that are estimated to show potential demand for thermoplastic pipe in the near future.