Energia
Sales of Reinforced Thermoplastic Pipes Made from High-density Polyethylene will hit US$ 321 Mn by 2031
A substantial rise in investment has been registered in the oil & gas industry across various countries for establishing new projects over the last five years. Extensive use of refined products such as petroleum, diesel, CNG, and others have fueled the demand for oil & gas, consequently, propelling the global demand for reinforced thermoplastic pipes.
However, the recessionary downswing witnessed across various industries due to the outbreak of COVID-19 epidemic stunted growth to an extent in 2020. The shortage of raw material and cessation of refineries due to the regulatory lockdown has hampered sales. Nevertheless, with the ease in restrictions and lockdown, demand is estimated to rebound by Q4 2021.
North America is anticipated to remain one of the leading markets for reinforced thermoplastic pipes. Owing to the increasing investment in the oil & gas industry for the exploration of new reserves, the region is expected to account for more than 30% of the global market share by 2031.
says the Fact.MR analyst.
Leading manufacturers in the reinforced thermoplastic pipes market are focusing on new product launches and engaging in strategic agreements and partnerships for business expansion. For instance,
Some of the leading market players operating in the reinforced thermoplastic pipes market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global reinforced thermoplastic pipes market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in reinforced thermoplastic pipes market with detailed segmentation:
The need for ductile iron pipe is increasing as the number of smart city and infrastructure development projects grows. Furthermore, governments are beginning water and wastewater management projects as a result of economic success and mounting demand to improve sanitation in metropolitan areas. In addition, a wide range of industrial application sectors are predicted to provide plenty of market prospects. Some of the trends that present substantial potential opportunities are growing awareness of clean and safe drinking water, increasing technical advancement, and improving wastewater management systems. Furthermore, strict wastewater management rules provide significant market opportunities for producers.
HDPE pipes can also be used to deliver drinking water. Water shortages are affecting local businesses and community living conditions in a number of places throughout the world. The respective governments are undertaking programs to upgrade their wastewater infrastructure and drinking water systems, which will inevitably boost HDPE pipe growth in the next years. The HDPE pipes market is expected to rise due to the ongoing demand for water infrastructure in all emerging regions. As developing countries strive actively to develop their sewage systems, the demand for HDPE pipes has surged as well.
With a competitive value market share over other pipe categories, seamless steel pipes have a lot of promise in the global piping sector. These pipes, particularly carbon steel, alloy steel, and stainless steel seamless pipes, are widely utilized as line pipes for the transport of fluids such as oils and chemicals, as well as structural components in the automobile, construction, and mechanical sectors. Steel pipes made by hot rolling are likewise in high demand throughout the world. Due to their numerous advantages over traditional pipeline systems, demand for seamless steel pipes has gradually increased over the last half-decade.
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