Reinforced Thermoplastic Pipes (RTP) Market to Grow over $13 Billion by 2025 at a CAGR of Around 7%

Description :

Global QYResearch, in its latest report on “Global Reinforced Thermoplastic Pipes (RTP) Market (Types: Non-metallic RTP, Metallic RTP; Application: Oil Flow Lines, Gas Distribution Networks, Water Injection Lines, Other)”, estimates that the global market for RTP is expected to grow at a significant rate of around 7% and reach the market value of over $13 billion by 2025. According to the study, the demand for reinforce thermoplastic pipes has grown progressively in the oil & gas industry owing to their anti-corrosive nature, cost effectiveness, and high transportability. Thus, through the extension of oil & gas industry, demand for reinforced thermoplastic pipes is projected to boost in near future. Besides, numerous industries use metal pipes that are prone to corrosion due to fluids and leakages. These pipes can cause financial wounds. Thus, government agencies and governments are imposing severe norms on the industrial segment regarding utilization of metal pipes. This in turn, enhances the reinforced thermoplastic pipes market.
 
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Non-Metallic to Grow Significantly
 
Deploying non-metallic materials in economically and technically feasible applications resists corrosion. The non-metallic road map was recently revised to support with the company's need to guide global acceptance of non-metallic products with objectives such as managing corrosion, encouraging investment, minimizing life cycle cost, and encouraging local nonmetallic product manufacturing.
 
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Regional Outlook
 
North America leads the global market for reinforced thermoplastic pipes (RTP), pursued by Europe and Asia-Pacific. Hi-tech advancement and an ample applications array are impelling factors for reinforced thermoplastic pipes. The supremacy of North America region is attributable to the growing amount of end-user industries such as transportation and oil & gas. Moreover, the RTP market in Latin America is projected to increase at a lethargic speed as it experiences dispersion. The requirement for reinforced thermoplastic pipes in Middle East & Africa is lofty owing to the existence of healthy oil & gas industry. The demand is predictable to mount over the forecast phase.
 
Key Players
 
Some of the key players that fuel the growth of global RTP market and incorporated in this report are GE Oil & Gas, Wienerberger, National Oilwell Varco, Shawcor, Airborne Oil & Gas, and more.
 
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